Logo of Papertrade

Papertrade(PAPER)

Total Value Locked$19.89m

TVL by Chain

Hyperliquid L1$19.89m

Protocol Information

Synthetic BTC and ETH perpetuals on HyperEVM, where traders trade against a protocol-owned liquidity pool using Hyperliquid's BBO mid price.

WebsiteX/Twitter
Category:Derivatives

Methodology

TVL: USDC held in the Papertrade Exchange contract's HyperCore spot account: trader trading balances plus the protocol-owned LP that takes the other side of every position.View code on GitHub

Competitors

Hyperliquid HLP ($179.73m)Bounce.Tech ($994,452)Derive V2 ($482,651)SIR ($94,454)Racks ($4,368)Jupiter Perpetual Exchange ($780.48m)GMX V2 Perps ($210.33m)Extended Perps ($119.73m)Lighter Robinhood Perps ($110.64m)dYdX V4 ($70.69m)

Frequently Asked Questions

What is Papertrade's TVL?

Papertrade currently has $19.89m in total value locked.

What chains does Papertrade operate on?

Papertrade operates on 2 chains: Hyperliquid L1 and Off Chain. Hyperliquid L1 holds the largest share at 100%.

How does Papertrade's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Papertrade ranks #16 by TVL. The category holds $2.012b across 420 protocols, and Papertrade accounts for 1% of that total. Other leading protocols include Hyperliquid HLP, Bounce.Tech, Derive V2, SIR, Racks, Jupiter Perpetual Exchange, GMX V2 Perps, Extended Perps, Lighter Robinhood Perps, and dYdX V4.