CoinMeta Data: papertrade, a full-chain perpetual contract exchange built on hyperliquid, announced that in the first 6 hours of its launch, the trading volume exceeded that of the stock market. A day later, the liquidity pool reached 5 million US dollars, and 25 million US dollars were paid to the stakers. The platform stated that small nominal values cannot be given the same priority as large amounts; otherwise, the front-end would experience congestion. Nighttime attempts to manipulate the optimal buy and sell prices of hyperliquid Bitcoin and Ethereum were possible due to the extremely lenient unliquidated position limits during the launch congestion period. After the congestion eased, the platform began to tighten these limits on both the chain and the relay layer. A user who profited during the night donated nearly all of their profits back to the platform through a new account, which has not yet been counted towards the manipulation costs on the hyperliquid side. Some users chose to cancel the manipulated transactions in order to retrieve the paper they had mined.