HyperLeafDocs

Paper Metrics

Mint cost uses the decayed effective mint rate after the cliff: 100 × (decay / (decay + tailProgress))² PAPER per $1 eligible loss. The displayed cost assumes 100% liquidation/loss and does not price expected trader profit.

Est. payback / APR is Research only. Denominator is staked PAPER (history paperStaked). Numerator is staker paperRevenue only (USDC actually distributed to stakers — aligns with the Papertrade staking page; not platform total income):

  • 1h — Last complete hour paperRevenue
  • 1d (default) — Last 24 complete hours sum

Only sealed hours roll at the hour boundary; the in-progress hour is never included. Pace: USDC ÷ staked ÷ hours. Shown as ~Xd (Y% APR). Same window pace; not a HyperLeaf fixed APR or guaranteed return.

Live figures: /app/paper/.

Paper Escrow

Factory 0x4B00e74d8cbbFd2485b7135Ae6912E8676A63DfC (open source).

  • Cash window is live; paperTransfersEnabled=false. After transfers unlock, users deliverPaper → settlePhysical.
  • Exit pays sUSDM shares (not USDM). Protocol income is surplus shares sent to feeRecipient.
  • OTC disclosures (also on /app/paper/):
  • While locked, sUSDM yield accrues to Hyperleaf — not to you. Exit returns sUSDM shares sized to your principal; Hyperleaf does not pay USDM — redeem via Monetrix cooldown.
  • Mutual cash exit returns sUSDM shares covering each side’s principal (no seller penalty; Monetrix cooldown). After transfers unlock, seller must deliver full PAPER within 48h or buyer reclaims payment + seller collateral. If shares cannot cover principal, remaining shares are returned — no principal guarantee.

Cardboard Trade

Research strip on /app/paper/. Third-party Solana perps (not HyperLeaf product; outbound only; not advice).

  • Eligible adverse-price losses on closed positions (including full liquidated margin) mint claimable CARDBOARD. Tokens are not a USDC refund. A close fee that alone turns a flat trade into a small net loss does not qualify.
  • Mint cost (Research): while tracked house result is below $1M, rate is 100 CARDBOARD per $1 eligible loss → effective ~$0.01 loss per CARDBOARD at that flat rate. Above $1M the rate decays (docs: 100 × (120M / (120M + H))²).
  • Break-even: —. No official APR, payback days, or closed-form staking yield. Stake CARDBOARD for a proportional share of USDC when the exchange distributes fee share (and optional LP excess); past distributions do not predict future income.
  • Product: cardboardtrade.xyz · SoT asOf 2026-10-17 Asia/Shanghai.

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