> For the complete documentation index, see [llms.txt](https://docs.paperstrategy.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.paperstrategy.xyz/the-token/tax.md).

# The trade tax

10% on every buy and sell, converted to HYPE at once.

Every buy and every sell of PSTR pays **10%**. The tax is taken in PSTR and sold for HYPE right away.

| Share of the tax | Goes to         |
| ---------------- | --------------- |
| One tenth        | The team wallet |
| Nine tenths      | The treasury    |

## What is taxed

* Any transfer that involves a contract that is not exempt: the HyperSwap pool, any other pool, a bridge, a vault.
* Not taxed: transfers between two ordinary wallets.
* Taxed once per transaction: a trade routed through an aggregator pays the tax once, not once per hop.

## How the tax is converted

The contract keeps the collected PSTR and sells it to the pool for HYPE: at the start of every sale, and whenever anyone calls its public conversion function. A keeper calls it every second, so there is never a stock of tax tokens waiting to be dumped. Each conversion sells at most 10% of the pool's PSTR reserve.


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