Papermill

MILL

Papermill is a two-layer protocol on HyperEVM built around Papertrade's PAPER token. PULP is a vault the vault holds USDC and is designed to farm and stake PAPER on Papertrade, with shares redeemable at net asset value through a keeper-settled weekly queue. MILL is the token: it holds the vault shares that back it, is not redeemable, and trades freely on HyperSwap. A 1% buy and 2–5% sell tax goes to the protocol controller. The design calls for a weekly epoch that sells MILL into the vault when MILL trades well above its backing and buys back and burns MILL when it trades below.