CoinMeta data: The cumulative notional trading volume of the synthetic perpetual protocol papertrade based on Hyperevm has exceeded one trillion US dollars, with TVL reaching 61.8 million US dollars. There are approximately 664 million US dollars in open contract positions, and the current margin for these positions is about 13.28 million US dollars. papertrade is a full-chain synthetic perpetual trading platform deployed on Hyperevm. Prices are derived from the median price in the Hyperliquid order book. Users trade directly with the protocol LP as the counterparty, without using traditional order book matching.