PaperStrategy PSTR

Sell signal activeRank#9▲2Score54

Sell signal held since Nov 6, before tracking started. no variant; REV ratio 1.1×, HR ratio 1.0×. Still open: payout at 13% of its 90-day peak. Also active: Distribution cut. See Signals.

Onchain Capital Allocator, Hyperliquid L1, Off Chain, 33 days of data

Active signals 4

Distribution cutheld since Nov 10
Paid to holders this week $63k, 30% of its usual $209k per week. Revenue this week $111k.
Payout to holders cut: revenue this week $111k, 1.1× the week before, paid to holders 30% of its usual week. Still open: the payout has not recovered.
Sell signalheld since Nov 6
Revenue this week $111k, 1.1× the week before.
Weekly revenue drop: revenue this week $111k, 1.1× the week before, paid to holders 1.0× the week before. Still open: payout at 13% of its 90-day peak.
New in top 20since Nov 8
Ranked #9 on Nov 11, up from #11 the day before.
New protocol with revenuesince Oct 31
New protocol, 21 days of data: $69k to holders this week, $801k in 30 days.

Market cap

$1.9M

price $0.00241 · 7d +15.1% · 30d −19.9%

FDV $1.9M (1.0× market cap)

source coingecko

Buyback revenue / year

$9.5M

holders revenue of the last 30 days, $780k, × 365 ÷ 30

Buyback + burnbuyback share 42%

Buys back 497% of its market cap a year, using 42¢ of every $1 it earns.

Multiple

0.2×

median of all tokens 20.2×, against 0.2× here

Run-rate

0.6×

last 7 days $63k × 52 = $3.3M a year

last week's payout to holders ran at 34% of the 30-day pace: the payout is slowing

What we checked

Valuation
Multiple 0.2×, 101× cheaper than the median of all tokens (20.2×; its category is too small for a peer group). The group's largest earner Hyperliquid trades at 20.2×: 101× cheaper per dollar returned to holders. On total revenue: 0.1×, 304× cheaper than the revenue peer median.
Distribution
Buyback + burn: Revenue buys the token on the market and the bought tokens are burned. Holders got $780k of $1.9M revenue in 30 days → buyback share 42%. DefiLlama: “PSTR Buyback And Burn: WHYPE the buyback contract spends buying PSTR that it burns, net of the tax on those purchases.”
Sustainability
Holders were paid on 22 of 30 days (73%); largest single day 15% of the month's holders revenue; paid to holders this week: 13% of the best week in 90 days (more than half below peak). Revenue +7% over 7 days and +17% over 30 days, price −20% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

Sell signalheld since Nov 6, before tracking started; no variant; REV ratio 1.1×, HR ratio 1.0×. Still open: payout at 13% of its 90-day peak. See Signals
Distribution cutheld since Nov 10, before tracking started; paid to holders $62.7k in the week to 2026-11-11 vs $209k per week from 2026-10-08 to 2026-11-04 (30%) while REV7 is $111k ($103k the week before); last payout 2026-11-11. Still open: the payout has not recovered. See Signals
Payout >50% below peakthis week's holders revenue is 13% of its best week in the last 90 days ($496k)
Insufficient history32 days of data; g30, divergence not computable yet and scored as neutral 50
Small peer group51 peers in universe; median taken from the universe level
Partly off-chain“Off Chain” next to other chains and not verified on-chain (penalty −10)

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $780k / $1.9M; last 30 closed days
To holders: Buys back 497% of its market cap a year
FDV / dilution: $1.9M / 1.0×; FDV ÷ market cap
Price 7d / 30d: +15.1% / −19.9%
Revenue growth 7d / 30d: +7% / +17%; versus the period before
Divergence: —; revenue growth minus price growth, 30d
DEX liquidity: $397k; DexScreener, representative pools
24h volume: $51k; all markets, CoinGecko
Unlocks 30d: —; no unlock schedule for this token
Revenue multiple: 0.1×; market cap ÷ revenue per year
Fee multiple: 0.1×; market cap ÷ fees per year
Distance to peak: 13%; this week ÷ best week of 90 days
Data since: Oct 10; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 0.2× (scored) · peer median 20.2×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
Date	Signal	Price then	After 7d	After 30d	Since	Outcome
November 10, 2026	Distribution cutactive	$0.00262	—	—	−8%	not counted
November 9, 2026	New in top 20active	$0.00207	—	—	+17%	30-day check: day 3
November 6, 2026	Sell signalactive	$0.00207	—	—	+17%	not counted
October 31, 2026	New protocol with revenueactive	$0.00249	−20%	—	−3%	30-day check: day 11

Versus peers

universe (whole universe) · 52 tokens (51 with a multiple) · median multiple 20.2× · Hyperliquid is valued 8878.7× higher. Per dollar that counts for holders, PaperStrategy is 100.6× cheaper.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
PaperStrategythis token	Buyback + burn	0.2×	0.1×	42%	$780k	$1.9M	+17%
Pharaoh Exchange	ve / bribes	0.3×	0.2×	100%	$1.3M	$2.6M	−52%
OTC	Buyback + burn	0.5×	0.2×	43%	$292k	$1.9M	+111%
RamsesX	Mixed	0.7×	0.5×	97%	$368k	$2.2M	+8%
nest	Distribution	0.8×	0.4×	100%	$869k	$4.4M	+32%
Sapling	Buyback + burn	0.9×	0.7×	82%	$100k	$1.1M	−30%
ORE Protocol	Buyback + burn	1.0×	1.0×	99%	$4.3M	$51.7M	+37%
StonkFun	Buyback + burn	1.7×	1.0×	60%	$1.7M	$34.5M	−88%
up	ve / bribes	2.0×	1.0×	100%	$313k	$3.9M	−68%
Fake World Assets	Buyback + burn	2.4×	1.7×	80%	$149k	$3.9M	−70%
THORSwap	Mixed	3.7×	2.1×	75%	$312k	$10.4M	+55%
Marinade	Buyback	5.1×	2.5×	50%	$193k	$11.9M	−13%
Chainflip	Buyback + burn	5.4×	5.4×	100%	$520k	$34.4M	+59%
Pons	Buyback + burn	5.7×	5.7×	118%	$1.7M	$99.8M	−84%
Pump	Buyback	5.8×	2.6×	44%	$21.9M	$1.54B	−24%
Usual	Mixed	6.3×	3.3×	70%	$378k	$21.6M	+80%
Aero	ve / bribes	8.7×	4.0×	96%	$7.4M	$372.0M	−6%
Tornado Cash	Mixed	9.6×	7.2×	100%	$278k	$24.4M	−21%
SSV Network	Mixed	12.4×	9.3×	100%	$275k	$31.1M	−10%
Spark	Buyback	13.0×	3.7×	29%	$340k	$53.8M	+133%
Lighter	Buyback	14.6×	11.8×	81%	$4.4M	$775.1M	+14%
edgeX	Buyback	16.0×	7.0×	44%	$622k	$120.8M	−43%
Lido	Buyback	18.6×	6.2×	34%	$0	$255.2M	+6%
Geodnet	Buyback + burn	18.8×	15.1×	80%	$744k	$170.5M	0%
PancakeSwap	Buyback + burn	19.5×	12.8×	65%	$2.4M	$563.6M	−29%
Hyperliquidleader	Buyback + burn	20.2×	20.2×	100%	$68.8M	$16.94B	−3%
Bankr	Distribution	20.3×	8.8×	86%	$237k	$25.1M	−85%
deBridge	Buyback	20.8×	15.6×	75%	$340k	$86.1M	−13%
ApeX Protocol	Mixed	21.2×	15.9×	100%	$145k	$28.2M	−21%
Yield Basis	ve / bribes	22.1×	7.8×	100%	$148k	$14.0M	41.0×
Sky	Mixed	26.7×	8.4×	42%	$5.5M	$1.34B	−3%
Raydium	Buyback	27.1×	16.8×	62%	$1.3M	$425.4M	−65%
Curve Finance	ve / bribes	29.3×	11.1×	94%	$2.6M	$374.4M	+44%
Collector Crypt	Buyback + burn	35.3×	0.9×	3%	$392k	$168.2M	−5%
GMX	Distribution	37.0×	13.5×	73%	$354k	$79.6M	+15%
Maple Finance	Buyback	37.2×	7.4×	20%	$326k	$147.5M	+14%
Uniswap	Buyback + burn	37.3×	37.3×	100%	$8.2M	$3.71B	−20%
Convex Finance	ve / bribes	47.5×	13.8×	95%	$881k	$155.5M	0%
Orca	Buyback	47.8×	7.9×	16%	$130k	$75.6M	−36%
Aster	Buyback + burn	50.2×	∞	—	$2.8M	$1.69B	—
Jupiter	Buyback	50.2×	15.9×	32%	$1.4M	$856.4M	−32%
dYdX	Distribution	51.6×	25.8×	100%	$240k	$75.2M	−15%
Venice	Buyback + burn	68.7×	68.7×	100%	$1.1M	$941.4M	+22%
Kinetiq	Mixed	84.8×	37.3×	59%	$133k	$103.2M	−37%
Railgun	Distribution	86.5×	28.1×	66%	$202k	$116.7M	−9%
Pendle	ve / bribes	104×	37.2×	72%	$411k	$260.0M	+39%
Render Network BME	Burn	122×	86.6×	95%	$751k	$832.8M	+240%
Chainlink	Buyback	152×	147×	100%	$4.3M	$7.66B	−2%
Meteora	Distribution	180×	5.2×	18%	$458k	$161.9M	−60%
NEAR Protocol	Buyback	206×	194×	94%	$1.8M	$4.51B	−18%
Liquity	Distribution	1.2k×	8.2×	80%	$128k	$15.8M	+409%
BONK.fun	Mixed	∞	11.7×	95%	$1.5M	$233.7M	−67%

Score build-up54 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

54of 100#9▲2top 16% one or more parts are the neutral 50

Valuation 35.0Momentum 12.5Divergence 10.0Quality 11.5penalties −15= 54.0

Valuation35%

100Valuation 100.0: HR half 100.0 (multiple 0.20×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 303.79×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%capped

50Momentum 50.0 (neutral): g7 0.067, g30 unknown; missing history gives the neutral 50.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%capped

50Divergence 50.0 (neutral): d unknown (missing history).d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

57Quality 57.4: mean of days HR>0 73% → 72.2 (0 at ≤30%, 100 at ≥90%), largest day 15% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.13 → 0.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penalty −5 (history_30_60): history 33 days (30-60).
Penalty −10 (off_chain_mixed): "Off Chain" next to other chains, not verified on-chain.

HR7 is below 50% of its 90-day peak: momentum and divergence are capped at 50. This is not a penalty; the distance already counts in quality.

Penalties−15

−5History 30 to 60 dayshistory 33 days (30-60)

−10Off Chain next to other chains, not verified on-chain"Off Chain" next to other chains, not verified on-chain

8 rules not applied, 3 wait for research data.

Where the numbers come from

Revenue source: 2 active children; DefiLlama adapter per child
Price and market cap: defillama / coingecko; latest fetch
Scored on: November 11, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token2 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

PaperStrategy PSTR
Onchain Capital Allocator · Hyperliquid L1
type buyback-burn · source label
“PSTR Buyback And Burn: WHYPE the buyback contract spends buying PSTR that it burns, net of the tax on those purchases.”
The staking yield the buyback contract spends buying PSTR and burning it, net of the 10% tax it pays on those purchases.
PSTR Buyback And Burn
WHYPE the buyback contract spends buying PSTR that it burns, net of the tax on those purchases.
adapter on GitHub ↗
PaperStrategy Papertrade
Interface · Off Chain
type unclear · source none
No methodology text at DefiLlama.
adapter on GitHub ↗