Defi
Papertrade Draws Reported $3 Billion in Positions in First Hour
The Defiant·October 10, 2026·1 min read
Papertrade, a new on-chain perps exchange, drew $3 billion in positions within its first hour. DefiLlama tracked $137.1 million in trader balances and house liquidity combined, but those funds are not all available to pay winning trades, highlighting potential liquidity risks.
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