Cumulative notional trading volume exceeds $1 trillion, Papertrade open interest positions at approximately $664 million

Odaily reports that Papertrade, a synthetic perpetual protocol built on HyperEVM, has surpassed $1 trillion in cumulative notional trading volume, with TVL at $61.8 million, open interest positions at approximately $664 million, and margin corresponding to existing positions at around $13.28 million. Papertrade is a fully onchain synthetic perpetual trading platform deployed on HyperEVM, reading the BBO midpoint price from the Hyperliquid order book. Users trade directly against the protocol's LP as counterparty, without employing traditional order book matching.