Update
PaperTrade LP Grows from $0 to $5M in First Day
PaperTrade's liquidity pool (LP) grew from $0 to $5 million in its first day of trading. The team confirmed that attempts were made to profit by moving Bitcoin (BTC) and Ether (ETH) quotes on Hyperliquid. At 1000x leverage, a 0.1% movement in a quote is equivalent to a position's entire margin. An analyst reported that one wallet made $1.28 million by manipulating Hyperliquid's ETH price, winning 296 out of 305 trades. The team stated that these attempts were possible due to loose open interest caps at launch, which are now being tightened. The LP level above which extra funds go to stakers was raised from $5 million to $10 million after 18:45 UTC on October 17.