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ToggleIn the Web3 era, where digital assets and ownership are redefined on the blockchain, Pax Gold (PAXG) emerges as a bridge connecting the traditional financial world with the digital economy. What are Paxos and Pax GOLD? What is their relationship? Let's explore with Allinstation through the article below!
[The rest of the translation continues in the same manner, maintaining the structure and translating all text while preserving the <> tags]- Each PAXG is backed by physical gold, not a synthetic or derivative asset.
- Paxos publishes monthly audit reports verifying the amount of reserved gold.
Transparency and Safety
- Paxos is under strict supervision by NYDFS.
- Customer assets are separated from company assets, avoiding risks when the company becomes insolvent.
High Liquidity and Accessibility
- PAXG can be traded 24/7 on major exchanges like Binance, Kraken, Crypto.com,…
- Can own a fractional ownership of gold with a small amount of money, which is difficult with physical gold.
Low Transaction and Storage Costs
- No need to store gold in a vault or bank.
- No storage and gold transportation fees.
Ability to Convert to Physical Gold
Paxos supports users in some regions to exchange PAXG for physical gold.
Is PAXG a "Gold ETF on Web3"?
Answer: Almost exactly.
PAXG offers a new generation of gold investment, combining the reliability of physical gold and the convenience of digital assets. While traditional gold ETFs are limited by banking systems and stock exchanges, PAXG opens doors to gold access for millions of Web3 and DeFi users globally.
Practical Applications and Impact of PAX Gold
PAXG is not just a personal investment option. Organizations, DeFi platforms, and exchanges can also use PAXG to:
- Preserve value during volatile periods.
- Integrate gold assets into DeFi applications like lending and staking.
- Use as collateral in decentralized financial protocols.
Technical Information about PAXG
- Token Name: Pax Gold
- Ticker: PAXG
- Blockchain: Ethereum
- Standard: ERC-20
- Token Type: Asset-backed stablecoin
- Contract: 0x45804880de22913dafe09f4980848ece6ecbaf78
- Circulating Supply: ~185,000 tokens (corresponding to the amount of physical gold being stored)
- Total Supply: Unlimited (mint/burn based on user demand)
Guide to Owning and Storing PAXG
Where to Buy: Binance, KuCoin, Kraken, Crypto.com, BitGlobal, Tokocrypto…
Storage Wallets: Metamask Trust Wallet Coinbase Wallet Hardware wallets like Ledger, Trezor
Project Team, Partners & Investors of Pax Gold
Project Team
Paxos has a leadership team with extensive experience in traditional finance and blockchain technology, such as:
- Sheila Bair: Former FDIC Chair (2006-2011), among TIME's 100 most influential people, recipient of Consumer Federation of America's Public Service Award.
- Bill Bradley: Managing Director of Allen & Company, former US Senator for New Jersey (1979-1997), former Senate Finance Committee Chair.
- Patricia Kemp: Co-founder and Managing Partner of Oak HC/FT, former joint venture partner at Oak Investment Partners, top 40 Fintech Finance investor.
- Jim Manzi: Former Thermo Electron Chair (2005-2020), former Chair and CEO of Lotus Development Corporation (1984-1995).
- Scott Malpass: Former Investment Director of Notre Dame University, Board Member, TIFF Investment Management, Board Member of The Vanguard Group, Inc.
- Brian Stern: Former Strategic Investment Director at Stone Ridge, former Private Markets Director at BlackRock.
Partners & Investors
Strategic partners and investors: Galaxy Digital, Kraken, Nexo, Bithumb, imToken,…
Summary
PAX Gold is one of the most innovative blockchain applications in tokenizing traditional assets. With physical gold backing, transparency, security, and accessibility, PAXG is becoming an attractive alternative to gold ETFs in the Web3 era.
If you are looking for a stable asset with real value that can be traded across borders, PAX Gold is a name worth considering in your investment portfolio.
