Market integrity
Methodology and quote policy
Paperdesk publishes pre-transfer PAPER price indications. It does not operate a spot market, custody assets, or guarantee settlement.
Canonical assets
Paperdesk recognizes only PAPER on HyperEVM at 0xe40f17915daa230324030003a197cdaef2261c0e and Circle-issued USDC at 0xb88339cb7199b77e23db6e890353e22632ba630f. Similarly named tokens and unofficial DEX pools are excluded.
Maker provenance
Every indication is signed using EIP-712 by the wallet shown in the book. The signed payload commits to side, PAPER amount, USDC price, expiry, and a unique nonce.
Balance verification
Seller PAPER is checked directly against Papertrade's first-party public leaderboard. Buyer funds are checked against Circle USDC on HyperEVM. Open quotes are revalidated at least once every 60 seconds and disappear when the verified balance is insufficient or unavailable.
Ordering and midpoint
Bids are ordered highest first and asks lowest first. The displayed midpoint exists only when both sides contain a verified indication. Farming costs, staking rewards, and unrelated market prices are not incorporated.
Expiry and cancellation
Quotes expire automatically. Makers can remove an open quote by signing a quote-specific cancellation message. Submission and status changes remain visible in the recent-indications tape.
Settlement
Current indications are non-binding. Binding matching will remain disabled until PAPER transfers are unrestricted and collateral, default, and delivery rules have been published.
Known limitations
- A verified balance can change between scheduled checks.
- A signed indication is not an enforceable promise to deliver.
- Papertrade can change token behavior or its transfer timeline.
- Third-party data availability can temporarily remove otherwise valid quotes.