Paragon has acquired the PAPER ticker and may launch Papertrade perpetual contracts.

BlockBeats news, October 18: HIP-3 market deployer Paragon spent 570.98 HYPE (approximately $45,000) to win the code PAPER at auction, and may soon launch Papertrade (PAPER) perpetual contracts.

Papertrade is an on-chain synthetic perpetual contract trading platform deployed on HyperEVM, offering leverage of up to 1000x. Its token PAPER is minted through users' realized trading losses, with no pre-mining, team, or venture capital allocation.