Papertrade’s PAPER perpetuals on Hyperliquid HIP-3 topped $12.9 million in volume during their first 11 hours, with $4.58 million in open interest, according to BlockBeats.
Early market snapshot
The contract reached $0.035 and was quoted at $0.025 in the report. Paragon, the HIP-3 deployer, received more than $6,000 in fees, representing over 5% of its total revenue, according to the flash.
Token data
Paperdash data put PAPER supply at about 8.65 billion, with 8.58 billion staked. At $0.025, the report estimated fully diluted value at about $212 million. The token was described as not freely transferable.
Source: BlockBeats flash.