papertrade launch timing and details

papertrade is expected to launch at 14:00 UTC on 10.10.2026, following the scheduled hyperevm network upgrade.

at this time trading through the frontend will be enabled.

deposits will pause for a short period of time at 13:45 UTC, fifteen minutes before, to ensure that trading has the utmost priority during launch. if you wish to participate in the launch you must predeposit.

launch congestion

papertrade will be congested at the start due to launch demand. expect temporarily long confirmation wait times, especially for smaller notional trades.

the frontend relayer plays an important role during launch, controlling how transactions are submitted to the hyperevm. some actions like staking distributions run separately in big blocks. the chain will always look as if only half of all possible gas is being used, this is optimal. using more than this would exponentially raise fees within minutes to unpayable prices.

oi limits

papertrade has individual atomic position limits of 10m. there is no limit on the number of 10m positions a user can have. papertrade also has floating oi headroom per market/side, which determines how much oi can be opened in a very short period. these are not designed to be triggered through normal trading usage and are set at 1bn per market/side for launch.

asym pnl fee parameters

papertrade inherits rollbit’s asymmetric fee pnl curve

the parameters are:
-baseRate: .1
-rateMultiplier: 15000
-rateExponent: 1
-referenceNotional: 100000*k (k=1m)
-positionMultiplier: 814.598 btc / 483.979 eth
-profit deadman: 0.2 basis points

a visualization of the pnl parameter curve is below

admin keys

the papertrade admins (2 of 3 multisigs consisting of izebel_eth blurr UngusTrade ) perform three separate roles:

-guardian: pause opens and freeze individual/global markets. if a market is frozen any existing positions can still be closed against the paused bbo mid.

-owner: set impact curve and fee parameters. change configure relayers/keepers. list new markets and upgrade the contracts. all contract upgrades are gated by a 7 day timelock.

-markets: adjust the oi headroom per market/side. set the minimum margin and minimum position sizes.

read more about these features at: docs.papertrade.xyz

https://x.com/papertrade_xyz