Paxos Standard (PAX) is a stablecoin released as an ERC20 token, issued by Paxos.
PAX is a digital USD. It’s entirely supplied by USD, is constantly secured, checked and regulated.
Paxos Trust Company attracted Withim, a leading national audition company, for independent checkups at any given moment to make sure the entire supply of Paxos Standard is supplied by USD on the reserve accounts in US banks under management of Paxos. Withum completes all the accounting by the end of the month, using AICPA standards. Every checkup report published since the launch of PAX can be viewed here.
Where and how you can get PAX
- The popular exchanges Huobi and Binance
- On the decentralized exchange Uniswap
- On the website of the Paxos issuer (KYC required)
PAX to Minter
PAX on Minter is a wrapped PAX of the ERC20 format that has more advantages thanks to the nature of Minter.
On the Minter blockchain the PAX stablecoin has the ticker PAXE and is fully supplied by ERC20 PAX.
PAXE tokens on Minter
PAXE hot wallet —
PAXE cold wallet —
PAX tokens on Ethereum (supplying PAXE on Minter)
PAX hot wallet —
PAX cold wallet —
To minimize fee expenses, on Minter wrapped tokens are released in packets (they won’t exactly be 1:1 accurate with the supplying coins on Ethereum). But only the 100% supplied amount will be allowed to roam on Minter, the rest will be on the hot wallet and the cold wallet, which are controlled with multisigs.
It doesn’t affect security and reliability, since minting and burning wrapped tokens on Ethereum is also managed by multisigs and they can be minted or burned at any moment upon reaching a required amount of votes. In this case Minter has an advantage over Ethereum as it doesn’t spend any money at all on fees.
The first packet of PAXE on Minter consists of 10 000 000 000 PAXE.
At the moment of writing the cold wallet has 9 999 000 000 PAXE.
Meanwhile the hot wallet has 1 000 000 PAXE.
When users are performing PAX transfers from Ethereum to Minter, these tokens will be roaming and their amount will be calculated like so:
10 000 000 000 - *hot wallet total* - *cold wallet total* = *amount of roaming PAXE*
Liquidity pools with PAXE
By clicking on a pair you can see all the basic liquidity information, token price correlation, daily trade volume, daily fee amount received by liquidity providers and the current APY — yearly profitability.
And on the page of the pair at Chainik you can also track the price change graph.
PAX cross-chain transfer
You can learn about transferring PAX and other tokens from Ethereum to Minter and back at our page about cross-chain transfers.
Advantages of PAX on Minter
The advantages of having a wrapped PAX, like other tokens on Minter, lie in the blockchain’s possibilities — first off, the transaction speed (less than 5 seconds) and the low fees ($0.01 for a transfer and $0.03 + 0.2% for a conversion). You can learn about other advantages Minter has at a corresponding page on our database.
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