I had the same issue, and the fix was as brent113 describes. Although the v1 doesn’t let us mess with the print head while it’s printing, so I raised every calibration point by 0.05mm before printing. I also changed Initial Layer Line Width to 100%, and Initial Layer Height to match the Layer height.
I took it a step farther though. I’ll use the paper to do a rough calibration. I lower the nozzle until I can pull but not push the paper, then raise it up one 0.05mm step. Then I’ll print a solid 125mm square that’s 0.05mm tall (I made a Ultra High Quality profile, with an Initial Layer height of 0.05mm). Use whatever quality you print at the most, because the calibration for a 0.05mm print doesn’t work that well for a 0.4mm print (it works, just not well).
On the first print, I’ll usually let it do the inner and outer walls, then stop the print. At least one corner will be either too low (filament so thin that it tears when I remove it from the print bed) or too high (filament doesn’t stick). Manually adjust the calibration accordingly, and repeat until I’m happy. Once I’m happy watching the outer walls print, I let the print run to completion. That’s usually enough that I’ll get a good layer without too much buckling or tearing, but I sometimes I have to adjust calibration based on the complete print. If a section has pushed the first layer up off the bed, it’s too low. If the print is so thin it tears, it’s too low. If it doesn’t stick to the bed, it’s too high. It’s usually only one corner that needs adjusting by this point, but based on your print direction, the first corner printed might negatively affect other corners. You should get a nice solid sheet of 0.05mm PLA that might have an occasional rough spot, but no holes.
If I recheck this calibration with the paper, I found that the nozzle is barely putting any pressure on the paper. It easily slides in all directions.
BTW, you’ll have to repeat this process if you upgrade the firmware, or switch between Luban and Cura.
Once I was happy with the print, I started having bed adhesion issues. Any bit or dirt, dust, or oil on the print surface causes the filament to come loose. So I designed and printed a build plate cover for my v1. In the images, you can see that I still hadn’t completely dialed in my over-extrusion on the first layer. It took me a while to figure out everything I mention above. Now, I can usually get a calibration dialed in how I like it in an hour or two, depending on how many times I have to print the solid square.