Extra, extra: answers.
Straight answers about how StonkPress works.
Is PAPER a stablecoin?
No. PAPER targets 1/10,000 of one SPY token. It is a ratio asset, not a dollar claim.
What backs PAPER?
PAPER is not a claim on SPY, on dollars, or on the Ink Reserve. The press works toward the target with its runs, the Ink Reserve, the redemption reserve, the Shredder, and market liquidity. None of these guarantees a price or a redemption. Read how the press works.
What is PLATE?
PLATE is the press's separate share token. It is not staked PAPER. Clamped PLATE can receive printed PAPER during qualifying expansion runs. Read PLATE.
What happens below target?
During the first 12 bootstrap runs, each run prints a fixed share of circulating PAPER regardless of target. After bootstrap, printing stops below target. The Shredder lets PAPER become RECEIPT, which may redeem for PAPER at a premium above the 1.01× threshold if the redemption reserve can cover it. Buybacks are separate: standing buy orders at 0.95–1.0× target, plus discretionary purchases from the Ink Reserve by the reserve multisig. Read The Shredder & RECEIPT.
When is genesis?
Genesis opens on Thursday 1 October 2026 at 16:00 UTC and runs for seven days, once, to 8 October 2026 at 16:00 UTC. Read the genesis overview.
How much PAPER is in genesis?
300,000 PAPER over seven days.
What are the rewards from?
Protocol emissions and swap fees. Read Rewards & Clamping.
Can PAPER trade away from its target?
Yes. It can trade below or above target. A target is not a promise.
What is the Ink Reserve?
The Ink Reserve is StonkPress's reserve of SPY and protocol-owned liquidity, used for below-target buybacks. It does not fund RECEIPT redemption, which draws on a separate PAPER reserve the Treasury builds from prints. Its sources include a reserve segregated before launch, bond LP, oPLATE exercises, a share of pool swap fees and the genesis deposit fees. A reserve, not a guarantee. Read The Ink Reserve.
Why would a run stop?
A stale or missing price read halts a run until the price is fed again. The 20% circuit breaker is off at launch; the governance multisig can switch it on once there is price history, and it then skips a run after a larger move, except during the 12 bootstrap runs and two more. Read Oracle & Circuit Breakers.