Terms
Glossary
Short definitions for the words the site uses. Units on the site are written after the number: 0.2500 UETH, 1,234.56 USDC.
- UETH
- ETH on HyperEVM. An ERC-20 with 18 decimals. PaperJet mint payments are UETH, not native HYPE.
- HYPE
- The gas token on HyperEVM. You need a small balance to send the approve and mint transactions.
- HyperEVM
- Hyperliquid’s EVM chain, id 999. The NFTs, the vault, and the distributor live here.
- HyperCore
- Hyperliquid’s spot layer. The treasury sells UETH for USDC here before depositing to papertrade.
- Deposit weight
- The UETH deposit stored on a jet at mint. Distributions of USDC are split in proportion to the weight of staked jets.
- Capacity
- The maximum deposit for an edition. 0.2500 UETH on the F-35, 0.1000 UETH on the Su-57. The minimum is 10% of that.
- Mint fee
- The price that goes to the dev wallet. 0.0200 UETH on the F-35, 0.0035 UETH on the Su-57. It is not weight.
- PAPER
- The papertrade token minted from realised losses. Non-transferable at launch. The treasury stakes it. Holders do not receive it.
- Approach B
- Stake the NFT to earn. The distributor keeps a USDC-per-weight accumulator. Unstake pays what is pending and stops the jet earning.
- NAV
- A published snapshot of treasury value: vault balances, the trading account, papertrade equity, and queued amounts shown separately. It is a report, not a redemption price.
- Queue
- papertrade’s line of winning closes that are not paid until the liquidity pool can cover them. A queued win is not yet USDC in the PaperJet distributor.
- Trading EOA
- The hardware-wallet account that is the treasury’s papertrade user. It can withdraw. A session key used for trading cannot.
- Safe
- The multisig that administers the contracts. It does not hold the trading key.