What’s your price for PAPER?
Start with an FDV. Or build one from staker revenue and a valuation multiple. See the price per PAPER instantly.
Choose your valuation
How much do you think all PAPER should be worth?
Starts at an editable $80M example.
Filled from the live total supply. You can override it.
Build your own FDV
Three assumptions determine the hypothetical price.
Starts at today’s supply. Enter a future estimate or use the estimator below.
Help me estimate future supply
Uses the Papertrade mint schedule: issuance slows as cumulative LP earnings grow. Start from the current supply above.
Enter current supply to estimate issuance.
Loss assumptions affect supply only. Annual staker revenue remains your separate input.
Baseline: the last completed UTC day on Papertrade × 365. Enter a different annual run rate to test a scenario.
Use a peer’s multiple or type your own.
Peer multiple = FDV ÷ (last 30 days of holder revenue × 365 / 30). Buybacks and cash rewards have different economics.
Enter your FDV and the total PAPER supply.
Uses the implied PAPER price at future supply × Paper Strategy’s PAPER holdings.
Assumes today’s PAPER holdings remain constant and PSTR is valued at 1× net asset value. Holdings and net other assets are adjustable below.
The valuation you entered.
Current total supply.
FDV values all tokens at the same hypothetical price. It is not a claim that PAPER can trade at that price.
How this calculation works
Price per PAPER = desired FDV ÷ current total supply.
Annualization is a run rate, not a forecast of guaranteed income. The revenue baseline uses the latest completed 00:00–00:00 UTC day, reconstructed from staking distributions.
Completed-day time window will appear once loaded.
The optional supply estimator integrates 100 PAPER per $1 below $2M tracked LP, then 100 × [120M / (120M + H)]² above it. H is cumulative LP earnings above $2M. The supply-derived starting point assumes this schedule generated today’s supply; it is not a live LP measurement.
What does Paper Strategy imply?
A second way to infer a PAPER valuation from PSTR’s treasury.
Loading Paper Strategy’s published accounting and pool quote.
Adjust non-PAPER assets
Includes remaining treasury cash, trading account equity, and unspent or claimable staking rewards. Subtract liabilities if applicable. Historical capital deployed and spent buybacks are excluded.
Uses current PAPER supply.
(PSTR market cap − net other assets) ÷ PAPER held = implied PAPER price. Assumes PSTR’s remaining value is attributable to PAPER at net asset value; premiums, discounts, future tax income, and other business value are not separated.
Data sources & freshness
Polymarket’s median is estimated from the full set of FDV threshold markets. Its resolution measures FDV at 4 PM ET on the calendar day after a publicly tradable token launch. It is a sentiment reference and may have thin liquidity.
Papertrade staking · Paper Strategy · Polymarket · DeFiLlama