PAXOS is the first fintech company to be directly regulated and operate under the supervision of the New York State Department of FINANCIAL Services. On September 10, 2018, the New York Department of Financial Services (NYDFS) simultaneously approved two staboins issued based on Ethereum, the GEMINI Dollar and Paxos Standard. PAX is a stable currency backed by 1:1 US dollars. 1PAX is equal to 1 US dollar. All PAX reserves will be 100% collateralized by the full amount of US dollars held. PAX is built on Ethereum's ERC-20 standard, can be sent between any two wallets on the Ethereum network, and verified Paxos customers can purchase or exchange PAX on their company website. The USDP is an Ethereum-based ERC-20 token, so PAX is automatically listed on most cryptocurrency exchanges that support Ethereum. As erC-20 tokens, PAX is neither mineable nor mortgaged and can only be purchased or exchanged. The entire physical structure of PAX services is based on smart contracts that control one-to-one transactions between PAX and dollars. As mentioned earlier, the total supply of Paxos standard tokens is supported by fiat money in the reserve. To mint and destroy tokens, there is a Supply Controller address. The USDP token is open source and the code can be found on the GitHub page.

Paxos launched PAX (PAX) -- the world's first regulated cryptocurrency, issued based on erC-20 standard, with government endorsement, and USD 1: 1 provide alternative mortgages, anchored and improved transparency and relatively larger USDT Yu Chengdui crisis has a strong advantage, currency Ann Zhao Changpeng publicly recommended, even a release soon many head affirmation and support trading buy trading platform, stable currency must be regulated markets can be more mature, the emergence of PAX compared to other stable currency, more suitable for industry development.

The monopoly of stablecoin USDT, with no public audit and additional issuance at will, has laid hidden dangers for the coin circle. PAX is a stablecoin project focusing on compliance. It has a photo of Financial services in New York. The direct competitor is USDT, of course. There was a rumor in the coin circle that the New York prosecutor's all kinds of difficulties for USDT was to create a chance for USDP to get the upper hand. The market for the launch of the USDP is waiting for a long time, strong demand

The USDP is an ERC-20 token issued based on ETH and the smart contract has been thoroughly vetted by Nomic Lab. PAX anchors us dollars at 1:1 and provides collateral of equivalent US dollars. PAX will only circulate when the corresponding US dollars are pledged and will be destroyed immediately after being exchanged for US dollars.

USDP coins have several uses, including cross-border transactions, storing currency values when converting physical assets into digital assets, and blockchain-based payments for digital assets and cryptocurrencies.

Since it is fully convertible in U.S. dollars, the USDP can be viewed directly as a digital alternative that provides cash flow, can be traded immediately, around the clock, and is fully convertible. The Ethereum-based issue, backed by us dollars, is overseen by the New York Department of Financial Services, has higher endorsements than the USDT, which currently dominates 90% of the market, and thus provides greater protection for client assets than any other existing staboins. In addition to being reliable and stable, the lack of fees is a big advantage of the USDP. There are no USDP transaction fees and no exchange fees. Use the USDP solve the etheric fang block chain any number of transactions, even in the traditional banking business hours, can also be converted back into dollars assets, industry is dedicated to provide you with safe, reliable and flexible service, make customer even in the absence of dollar bank account, can be seven days a week, 24 hours a day free transfers. In terms of user experience, all Ethereum wallets can be used to send and receive USDP. There is no need for banks and third-party payment companies. All you need is an Ethereum wallet. On USDT's audit front, Paxos keeps all of its customers' money in separate accounts with banks insured by the FEDERAL Insurance Corporation (FDIC), and at the end of the month conducts an authentication process for these accounts and PAX (set up by AICPA), further enhancing PAX's transparency.

Axos Standard follows the Standard ERC-20 protocol on Ethereum. Seamless wallet support and exchange integration. Any merchant that has applied the ERC-20 code can provide support for the token on its platform.

USDP is a stable currency backed by 1:1 USD. 1PAX is equal to 1 USD, and all PAX reserves will be 100% collateralized in usd held in full.

As the world's top stablecoin, PAX has a "pretty shiny" background. PAX is issued by Paxos Inc., a blockchain trust company based in New York, THE United States. Founded in 2012, the company can be regarded as a pioneer in the blockchain field. Itbit, an exchange for institutions and high net worth investors, received New York's first bit-trading license in 2012 and has worked with Euroclear, Europe's largest clearing service, to develop blockchain-related services for the London Gold Market. The board is also distinguished, with members who have served as THE CEO of the New York Stock Exchange (NYSE), a U.S. senator, and senior partners at Goldman Sachs and Pricewaterhousecoopers. In June, Paxos raised a $65 million Series B round, bringing its total funding to more than $93 million. PAX is an ERC-20 Token issued based on ETH. The smart contract has been thoroughly reviewed by Nomic LABS. PAX anchors us dollars at 1:1 and provides collateral of equivalent US dollars. PAX will only circulate when the corresponding US dollars are pledged and will be destroyed immediately after being exchanged for US dollars. 3. Purchase channels: paxos website and global more than 30 exchange The user can log on to paxos official website (https://www.paxos.com/standard/), direct purchase registration is complete, without any fees. In addition, users can also purchase PAX through binance, Huobi, OK and more than 30 other exchanges around the world. 4. Us Dollar custody: Bank of America has kept these US dollar deposits in separate accounts with several FDIC-insured US registered banks, and these collateral funds are quite safe. 5. Financial audit: Withum Withum, a top 25 audit company in the United States, audits the account funds of Paxos every month and issues reports to ensure that Paxos has credible financial strength. Even if PAX will issue additional shares in the future, it will be based on reasonable expansion phenomenon supported by compliant financial support. For every additional PAX in the market,Paxos's dollar account reserves increase by one dollar. Unlike USDT, it will not cause panic in the market every time it issues additional shares. If there is any problem with the account, the US government can freeze the account by law enforcement means to fundamentally protect the rights and interests of PAX holders.

The most direct competitor is USDT, as well as other stablecoin competitors USDC, BUSD, PAI, etc

USDP Pax Dollar is a stable currency issued on the Ethereum network. It is approved by the New York Department of Financial Services (NYDFS) and is subject to US government regulation and dollar-for-dollar anchor. Security compliance has always been the development direction of stable coins in the coin circle. In this respect, PAX has done a good job. It is supervised by the New York State Department of Financial Services, and professional audit companies audit corporate finance every month. Before U Thunderbolt was seized by the Federal prosecutors in New York state, it is said that PAX was also involved, of course, it is only a legend, there is no real evidence. Because of the uncertainties of USDT, if you have a large amount of USDT, it is also a good choice to switch to a more stable PAX when not in use. For stable currency in the future will certainly be more and more heavily regulated, pax, as a kind of compliance, stable currency application scenario for the future will certainly more and more, although it is not a stable currency speculative property, but not fluctuations in a currency will have certain premium can obtain certain five risk and return, also don't have to worry about like USDT BaoLei safe hidden trouble, In my opinion, it is a relatively reliable stablecoin project. However, there are also some disadvantages, that is, the short time to come out, the lack of market recognition, the PAX trading depth of the exchange is almost bad. Take Binance EOS for example, the trading volume of USDT in 24 hours is 50 million usDT, while the PAX area only has more than 600,000 PAX, the gap is too big. Poor depth makes PAX even less attractive to users.

Pax Dollar (USDP) is the third generation of stable currency. USDP(Paxos Standard) is the world's first compliant staboin, issued by Paxos, a blockchain startup. The USDP is a stable currency backed by us $1:1, and all RESERVES of the USDP will be 100% collateralized in us dollars held in full. The USDP is built on ethereum's ERC-20 standard. In my opinion, USDP is the most secure stablecoin, and he has obtained the approval of the New York Department of Financial Services (NYDFS), directly backed by the NATIONAL credit of the United States. 1, both compliance and safety. On September 10, 2018, the New York Department of Financial Services (NYDFS) simultaneously approved two stablecoins issued based on Ethereum, namely GeminiDollar and PAX. These two stable coins are 1:1 anchored with the US dollar, and will be supervised by the US Regular payment, which will audit the account funds every month. If the account has problems, the US Regular Payment can freeze the operation through law enforcement means. 2. Decentralized distribution cannot be tampered with. The USDP is based on Ethereum's ERC20, which means that financial data is completely transparent, untamable, and completely decentralized. In theory, then, there would be money for each PAX issue. Compared with fully centralized stablecoins USDT and TUSD, it is undoubtedly more reliable. In short, USDP is the most secure staboin, both compliant and secure, decentralized Ethereum-based ERC20 issuance that cannot be tampered with. Investors who prefer security and are concerned about USDT's current litigation can switch to USDP trading pairs. Pax Dollar (USDP) is a stable currency issued on Ethereum by Paxos, a blockchain company. Unlike USDT, Pax is approved by the New York Department of Financial Services, regulated, and audited monthly by an independent third-party accounting firm. Completely 1:1 dollar mortgages, certainly better than USDT on sex, the presence of PAX has a very big meaning, basically equal to the American official financial institution legal chain on the dollar, and for a lot of special countries, such as (Zimbabwe, Iran, venezuela, Argentina rilla, etc.) of the people, there is a big stable investment significance of wealth, It also has great significance for the popularity and stability of the blockchain industry, and can give 8 points for comprehensive evaluation

The Pax Dollar (USDP) still has several disadvantages: 1) The Pax Dollar (USDP) has a short time to come out, lacks market recognition and supports few exchanges. 2) Perhaps because of the small number of users, the PAX trading pairs of the exchange are almost too deep. Take Binance EOS for example, the trading volume of USDT in the USDT trading area in 24 hours is 50 million USDT, while the PAX trading area only has more than 600,000 PAX Dollar (USDP), which is a big gap. Poor depth makes PAX even less attractive to users. 3) In addition to the poor trading depth, there is another reason why users do not want to use it, that is, it is not easy to cash out. Almost all otc exchanges support usDT liquidation, but few support Pax Dollar (USDP). Okex did list the USDP, but no one traded, no buying and selling list. These are not fatal problems, mainly the cultivation of user habits and marketing, if the project can be seriously operated, there are still good development opportunities.

Stablesoin will serve as the foundation of the blockchain industry, gradually supporting huge funds and blockchain services from global investors. In this situation, Pax Dollar (USDP) will also usher in a rare opportunity for development. The future development of cryptocurrencies needs to build strong consensus. In stabocoin markets, these consensus needs to be endorsed by trusted third parties to reduce the cost of trust, and strict regulation can play a more positive role. After all, there are too many variables in unregulated stablesoins like USDT, which are more likely to become another capital game tool. Therefore, in order to stabilize stablecoin, endorsement by a third party seems to be a necessary condition, even if they come from supervision and centralization. The Pax Dollar (USDP) is a good example that is highly praised by many people.