Pax Dollar (USDP) is a fixed-collateral stablecoin.
Contents:
- Information about Pax Dollar (USDP)
- Goals and features
- Security of Pax Dollar (USDP)
- Where can I buy it?
Information about Pax Dollar (USDP)
Stablecoins - cryptocurrencies, designed to minimize the price volatility of a stablecoin relative to a particular stable asset or basket of assets. A stablecoin can be pegged to a cryptocurrency or fixed money. Sometimes it can even be exchanged for goods.
Pax Dollar offers the advantage of blockchain asset transactions by minimizing price risk. Charles Cascarilla and Rich Theo are the creators of the Pax Dollar. Charles Cascarilla - the CEO and co-founder of Paxos. Rich Theo is the second co-founder of Paxos.
Goals and features
The developers emphasize that the main goal - to stabilize the dollar, using blockchain technology. The blockchain project has appeared to improve the larger financial ecosystem by creating a frictionless global network.
Project features:
| Risks | OpenZeppelin contracts help to mitigate risk by using proven smart contract libraries for Ethereum and other blockchains. |
| Assets | Mobilize all digital assets quickly with a high level of flexibility and accessibility. |
Paxos adheres to a charter from the New York State Department of Financial Services that allows them to offer regulated services in the world of crypto assets. The token is also backed by US dollars on the company's accounts with US depository institutions.
Security of Pax Dollar (USDP)
In the event of a security risk, Paxos may suspend the transfer and approval of the USDP token. This suspension capability is controlled by a single owner role, such as OpenZeppelin's own role. Because the project has a regulated trust, Paxos can legally transfer assets and money. By combining this permission with blockchain technology, transactions can be completed quickly, securely and without risk.
Where can I buy it?
The platform token (USDP) can be bought, sold and exchanged on several exchanges, namely:
- Bithumb Global;
- VCC Exchange;
- 1inch Exchange;
- Digifinex;
- Binance;
USDP is reviewed monthly by a top-notch accounting firm to ensure that its offer is in line with a reserve account, composed of US dollars and debt instruments, that are expressly guaranteed by the full trust and trust of the United States government, including through buyback agreements and/or money market funds, consisting of such debt instruments.