Five contract level upgrades have been pushed to the timelock. The non-atomic nature of hyperliquid core and EVM blocks, along with the still broadly un-battletested precompiles necessitates extensive, heavy testing as the design patterns papertrade employs are unusual to see in solidity. Papertrade, by its nature is a risk on protocol. But when it comes to striking a balance between speed and security, security will always remain paramount, particularly when it comes to production contract changes. Core lending: The Exchange will now be able to supply idle USDC to HyperCore's native lending market, with the accruing interest being routed to stakers. Collectibles: A factory plus per-collection ERC-721 contracts for exchange collectibles and themes. Staked PAPER transfer module: PaperStaking gains a whitelist of transfer enabled contracts, along with contract level yield piping. This code is unused for now but will be necessary for future updates. Sweep timing fix: HyperEVM big blocks share a timestamp with a preceding small block. Whilst never triggered in production this could cause an ill-timed deposit sweep to fail and so the contract level timing checks are switching to block numbers rather than timestamps. Direct LP donation: A new admin locked donateToLp call moves USDC from a designated donor account into the LP's cash, providing a clean path for regulating externally held USDC back into the LP. At some point we will likely write up a blog on our retrospective of the first month of papertrade, but we are few and there are only so many hours in a day or hats a man can wear. A final quick thank you to those who helped out with adversarial testing, game theory and the general math that went into last month's upgrade, you know who you are. To those who are still confused -- often boisterously so, we thank you for sticking around for long enough to show you care. good luck to us.