The paper I am using is "air mail" paper from a local school. It is 25% cotton, and you can get some that has higher % of cotton up to 100 %.
I do two wraps, in the picture you can see the spot where the two ends meet. The paper is used the same as a patch on a ball. The riflings grab the paper and some of the bullet as the bullet and paper go down the barrel. When the bullet leaves the barrel the paper flys off like a Sabot would. They are just a paper sabot in all honesty.
In the case of this bullet. It is .501 and I wrap the bullet with tthe paper. After wrapping it is .509 so I run it through a .501 sizer. If a guys rifle likes .503, .504, or .5025 it dosent matter. The paper patched bullet goes down snug but not tough enough to strip the paper. If the paper strips it is because the lube has penetrated the paper and it casues it to fail. What i do is keep them lube free until I go to shoot. ThenI lube as I load. If I am hunting I lube a half dozen for the day or what ever I think I will need. The paper patch has been used since the middle 1800's for long range target shooting up to 1000 yards. Ron