What is PAXG?

What is PAX Gold (PAXG)?

PAX Gold (PAXG) is a 1:1 value pegged digital token to real gold issued by the company. Paxos Trust CompanyRegulated by the New York State Financial Regulatory Authority (NYDFS), each PAXG token is certified in real gold standard London Good Delivery weight. 1 troy ounceAnd it's stored in a global gold repository, giving token holders access to their gold investments in a convenient, secure, and verifiable digital format. Getting gold tied to the blockchain through PAXG makes it easier to hold gold, don't worry about storage, transportation, or ancillary costs, and it can also be transferred or traded quickly. On the Ethereum network

‍

Blockchain nativo

PAX Gold (PAXG) runs on blockchain EthereumIn standard token format ERC-20This makes it possible to transfer, move, and store through an Ethereum wallet.

‍

Protokola Konsensus

PAXG does not have its own acceptance protocol, as it is an ERC-20 token located on the Ethereum network.
The Ethereum network uses a transaction confirmation mechanism. Proof of Stake (PoS)After upgrading The Merge

‍

Founder/Date founded

PAX Gold (PAXG) was created by Paxos Trust CompanyUS fintech firm focused on issuing regulated digital assets

• Paxos is founded by:Year 2012

• Launch of PAXG:September 2019

The company is also the issuer of other stablecoins such as USDP and is one of the most tightly regulated providers of digital assets in the US.

‍

Objective/Use case

The purpose of PAX Gold (PAXG) is to make it easier and more accessible to hold real gold through the token format on the blockchain. Its main feature is to allow users to hold the right to 1 ounce of real gold through digital tokens, to transfer or trade gold quickly within seconds without transporting real gold, to verify on the blockchain that the gold is Each ounce has its real identity in a certified repository, to be used as a collateral asset or used in DeFi systems, and to make it easier for individuals and institutions to access gold without incurring storage or collateral charges.

‍

Total supply/Limit or Unlimited

PAX Gold (PAXG) does not have a fixed or limited aggregate supply. The supply of PAXG increases when real gold is deposited with Paxos (mint) and decreases when the gold is burned, so the amount of PAXG in circulation depends on the actual amount of gold held in the system at that time.

‍

Supply Deflation

PAX Gold (PAXG) is not a token with a coin-burning system to create a shortage of other tokens. However, supply can decrease when a token holder does. redeemingTo withdraw real gold, the token is burned directly from the system.

‍

Referenzen

https://www.paxos.com/pax-gold

https://coinmarketcap.com/cmc-ai/pax-gold/what-is/

https://www.osl.com/hk-en/academy/article/what-is-paxg-everything-you-need-to-know

‍