Goal: to understand how to manually calculate the value of 1 LP token (of any liquidity pool).
Note: there are websites out there which can automatically tell you the value of your LP tokens, such as zapper.fi, this is just a manual calculation for those curious.
LP Token Formula:
We need the total value of the pool and the circulating supply of LP tokens. To find these values we need the contract address of the liquidity pool.
In Uniswap, this is provided at the very bottom when looking at the analytics for a pair. For instance,
this is LINK-ETH pair on Uniswap, where we can see that the contract address of the pair is 0xa2107fa5b38d9bbd2c461d6edf11b11a50f6b974.
Next we can search the address on etherscan (or any relevant blockchain explorer), this will lead us to this page which has the total value of this contract as shown below. In the LINK-ETH pool on Uniswap, the total value is currently $79 million.
We can get the circulating supply of LP tokens by going to the token page for the contract address. On etherscan, there is a link next to "Tracker" in the main dashboard, and it redirects to https://etherscan.io/token/<contract_address>. This is the LINK-ETH token tracker. At the time of writing this post, there is a circulating supply of 137,163.57 tokens.
And from all of this info we can calculate that 1 LP token in the LINK-ETH pool on Uniswap is valued at $577.69.