Unchained Explores PaperTrade Leverage and Token Mechanics
Original title: How Does PaperTrade Offer 1,000x Leverage With No Fees?
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Summary
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Key points
- PaperTrade drew $140 million in pre-deposits by offering 1,000x leverage on BTC and ETH with no fees, no slippage, and no funding rate.
- Every trade on PaperTrade is taken against a house pool funded by losers' margin.
- Losses on PaperTrade mint a PAPER token as a rebate.
- Queues slowed closing trades on HyperEVM during launch week.
- A launch-day trader pushed ETH around on Hyperliquid to move PaperTrade's price feed.
Questions
Who is the guest on this episode of Unchained?
How much did PaperTrade draw in pre-deposits?
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