Cryptocurrency Q&A
What is Paxos standard?
What is Paxos standard?
ThunderBreezeHarmony
Tue Oct 22 2024
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6 answers
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Paxos Standard, now known as Pax Dollar (USDP), is a stablecoin based on blockchain technology. It maintains a 1:1 value ratio with the US dollar, runs on Ethereum and BNB smart chains, and is issued and managed by Paxos Trust Company. Each USDP is backed by corresponding USD reserves, ensuring stability and trustworthiness.
6 answers
KpopStarletShineBrightness
Thu Oct 24 2024
Built on the robust Ethereum blockchain, PAX leverages the ERC-20 protocol for seamless integration and interoperability with various decentralized applications and exchanges.
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SamuraiCourageous
Thu Oct 24 2024
Paxos Standard, also known as PAX, represents a unique stablecoin in the cryptocurrency landscape. This digital asset is designed to maintain a stable value, mirroring the US dollar.
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MountFujiView
Thu Oct 24 2024
The PAX token is issued by Paxos Trust Company, a reputable entity in the financial industry, further enhancing its credibility and trustworthiness.
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GeishaWhisper
Thu Oct 24 2024
The stability of PAX's price is meticulously maintained through a 1:1 backing with USD. This mechanism ensures that every PAX token is equivalent to one US dollar, providing investors with a safe haven amidst market volatility.
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Eleonora
Wed Oct 23 2024
As a top cryptocurrency exchange, BTCC offers a comprehensive suite of services tailored to meet the diverse needs of traders and investors. These services include spot trading, futures trading, and a secure digital wallet.
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