TRADER / HOUSE TENSIONFIXED BLOCK
Volume is not revenue. Liquidated notional is not cash loss. Net trader PnL excludes deposits and withdrawals by definition, but the upstream calculation is not independently verified.
Protocol observatory · evidence before estimates
A ledger of what is known.
And what isn’t.
Synthetic BTC/ETH exposure against a loss-funded pool. Payout claims, paid cash and PAPER rewards stay separate.
LAUNCH LEDGER LIVE
Account PnL is decoded from current-implementation events. Coverage starts at the public launch event schema; pre-launch migrations remain outside the ranking.
01 / SYSTEM PULSE
Capital & activity
Contract accounting uses fixed-block integer reads. Activity values are event-derived for the displayed coverage interval.
SETTLEMENT WATERFALLDEFINED STAGES
- Recognizedclose outcome
- Queuedunpaid FIFO debt
- Claimableif exposed separately
- Paidwithdrawable cash
EVENT ACTIVITYHOURLY / VERIFIED LIFECYCLES
CUMULATIVE REALIZED PNLNOT EQUITY / NOT A WINDOW RETURN
MARKET SUMMARIESMARGIN × LEVERAGE NOTIONAL
LARGEST COMPLETED OUTCOMESABSOLUTE NET REALIZED
02 / RANKING
Net realized leaders
Loading exact event interval…
TIME WINDOWSLifetime launch ledger: available24h / 7d / 30d / custom: unavailable — opening marks and historical cash-flow state are missing
| # | Account | Net realized ↓ | Raw PnL | Trader costs | Opened notional | Completed | Win rate | Liquidations |
|---|
Net realized = impact-adjusted close PnL minus win-side fees, less isolated margin forfeited in liquidations. Deposits and withdrawals are excluded. Open/unrealized PnL and paid-vs-queued attribution are not ranked because verified historical state/field naming is incomplete.
03 / PROVENANCE
Data health
Definitions, source authority, collector status and blockers.
Raw lane
Checking local collector…
Semantic lane
PARTIAL / EVIDENCED
Runtime selectors and dominant open, close and liquidation schemas are bytecode/signature matched. Unnamed secondary events remain raw.
Balance decomposition
EXACT BUCKET READS
Loading state buckets…
Liquidation diagnostic exceptions
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Source registry
- Official identity
- papertrade.xyz · HTTP 200
- Official mechanics
- 23-page docs bundle · preserved locally
- Exchange evidence
- Proxy 0x6cd5…0a2 · DefiLlama attribution + creation/runtime evidence; official registry still TBA
- Leaderboard
- Full wallets decoded from Exchange logs; no PaperDash rows used
Research report & definitions
The live interface includes the operative evidence boundary: official documentation establishes mechanics; raw Exchange logs establish observed lifecycle; reconstructed event names remain unofficial until a verified ABI/source is published. Rolling 24h/7d/30d PnL is intentionally unavailable because a close-time slice cannot correctly mark positions opened before its boundary. See the linked official mechanics, exact API definitions and audit receipt, and source registry above.