Pax Gold


Pax Gold

The gold stablecoin PAX Gold (PAXG) is backed by commodities and is offered by Paxos. Each token is backed by a troy ounce of pure gold stored in Brink's vaults under Paxos' management. Without using an ETF, futures contract, or other derivative product, PAXG enables exposure to the Gold markets. One feature that sets PAXG apart from other gold trading products is the ability to be redeemed for physical, allocated gold, f ractional ownership, t There are no holding fees (fees assessed upon creation, redemption, or transfer), and instant settlement. On the public blockchain of Ethereum, PAXG is an ERC20 token. As a result, PAXG may work with programs and platforms that accept ERC20 tokens. Each token can be exchanged for one troy ounce of actual gold at any time as long as it matches the requirements (1 PAXG plus redemption costs). Paxos centrally mints and burns the PAXG token on Ethereum. The token can be broken down into pieces that go out to 18 decimal places. Sending and receiving PAXG tokens and engaging with their smart contract are both possible with any Ethereum wallet. The Ethereum blockchain contains a complete history of token transfers, creations, and redemptions.

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