Paxos Standard (PAX)

Stablecoin that should stay at the value of 1 USD

#35

Marketcap Ranking

1.002875 (0.16%) arrow_drop_up

Market Price (24h change)

245,656,310

Total Market Cap

2.6

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info_outline What is PAX

3.7

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PAX Short Description

Paxos Standard™ is the world's first regulated crypto asset. The Paxos Standard token is fully collateralized 1:1 by the U.S. dollar, issued by the Paxos Trust Company, and approved and regulated by the New York State Department of Financial Services.

Built on the Ethereum blockchain, it offers the benefits of crypto-assets such as immutability and decentralized accounting. Since it is fully collateralized by dollars, Paxos Standard offers a liquid, digital alternative to cash that is available 24/7 for instantaneous transaction settlement and is fully redeemable. As a Trust company, Paxos is a fiduciary and qualified custodian of customer funds, and can therefore offer greater protections for customer assets than any other existing stablecoin. Dollar deposits used to purchase PAX from Paxos.com are always held in segregated accounts at multiple FDIC-insured U.S.-domiciled banks.

Verified Paxos customers can purchase and redeem tokens directly through Paxos.com on a 1:1 basis with USD. Paxos Standard has been designed as an Ethereum token written according to the ERC-20 protocol, so that anyone with an Ethereum wallet will be able to send and receive Paxos Standard tokens. The smart contract has been audited by smart contract auditors Nomic Labs and ChainSecurity, and nationally top-ranking auditing firm Withum will perform attestation procedures on our token and bank account balances on a month-end basis..

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PAX Explanation Video

Paxos standard explained - what is paxos standard - stablecoins explained | crypto cruising

Paxos standard explained - what is paxos standard - stablecoins explained Paxos Standard is regulated crypto asset. It is fully collateralized 1:1 by the U.S. ...

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Screenshot from Website

paxos.com
PAX Websitemore_vert

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Website Informationclose

Organization: Whois Privacy Service
Name: On behalf of paxos.com owner
Country: US
City: Seattle
Zipcode: 98108-1226
Address: P.O. Box 81226
Mail: registrar-abuse@amazon.com
Creation date: 2002-09-07
Expiration date: 2020-09-07
Nameserver: NS-1193.AWSDNS-21.ORG

build PAX Product Analysis

4.3

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PAX Whitepaper

Paxos Standard is regulated crypto asset. It is fully collateralized 1:1 by the U.S. dollar, approved and regulated by the NYDFS, and enables instantaneous transactions. Paxos Standard (PAX) was created by Paxos, a financial technology company on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos was the first virtual currency company to receive a charter from the New York State Department of Financial Services. As a chartered limited purpose trust company with fiduciary powers under the Banking Law, Paxos is able to offer regulated services in the crypto-asset and virtual commodities space. The Paxos team comes from a wide variety of backgrounds with a diverse array of experiences ranging from Wall Street to Silicon Valley. It’s led by CEO and co-founder Charles Cascarilla, who has spent his career as a customer, analyst, investor and now creator of financial technology.


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PAX Competitors

  • 1.) Tether

    Tether (USDT) is a cryptocurrency with reference to fiat currencies that is issued by Tether Limited Company. Using the technology of Blockchain, Tether allows the users to keep, send and receive digital tokens pegged to dollars, euros and yens*. *1USDT =/= 1USD - according to ToS (Terms-of-service) of Tether Limited Company - Tether tokens are not money, although they are backed by the currency used to purchase them at issuance.

  • 2.) Dai

    Dai is a cryptocurrency that is price stabilized against the value of the U.S. Dollar. Dai is created by the Dai Stablecoin System, a decentralized platform that runs on the Ethereum blockchain.

  • 3.) TrueUSD

    TrueUSD claim to be a stablecoin that you can redeem 1-for-1 for US dollars.

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PAX Product Analysis

The exact founding date of Paxos Standard is unfortunately not that clear. Its source code was released publicly on github on September 2018 under the MIT License license.
Organization wise, Paxos Standards Development is Centralized and is being developed under the lead of Sheila Bair.

The consensus on which the Paxos Standard network is run is called Not mineable, while the underlying algorithm is called None.
In the current state of Paxos Standard currently is On-going development

group PAX Community Analysis

1.7

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PAX Communities & Events

There is no official PAX-subreddit yet

view_list Subreddit
person Subscribers
directions_run Active Users
create Daily Posts
speaker_notes Daily Comments
linkOpen Subreddit

There is no official Telegram Channel for PAX yet

view_list Channel
person Members
directions_run Online
linkOpen in Telegram

There is NO official Twitter account for Paxos Standard yet

view_list Channel
person 3,028 Followers
Name Date Description
Bitstamp Listing 06.10.2020
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PAX Google Trends


The Google Trends chart displays the search interest on google in Paxos Standard relative to its peak over the last year. A rising chart shows growing interest int he project.

code PAX Development Analysis

1.7

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PAX Github Analysis

Code Updates (Commits)


Every change to the codebase of Paxos Standard is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 54 Stars
remove_red_eye 23 Watchers
usb 44 Forks
sync_problem 4 Open Issues
border_color 0.06 % Comment Coverage
lock_open MIT License License

attach_money PAX Price Analysis

3.6

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PAX Price Prediction

$ 1.002397 (-0.06%) arrow_drop_down

Predicted USD Market Price in 24h by Coinpaper

$ 0.999942 (-0.3%) arrow_drop_down

Predicted USD Market Price in 14d by Coinpaper

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Converter PAX - USD

Convert between PAX and USD with the live Paxos Standard prices, aggregated from all big exchanges that trade Paxos Standard.


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Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle PAX Team Analysis

4.8

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PAX Team

PAX Team Leader

Charles Cascarilla - Ceo and co-founder
With over 15 years of experience in financial services, Charles has a unique perspective on integrating blockchain technology with traditional systems. He co-founded institutional asset management complex Cedar Hill Capital Partners in 2005 and its venture capital subsidiary, Liberty City Ventures, in 2012. Earlier in his career, Charles was a portfolio manager at Claiborne Capital and worked at both Bank of America Securities and Goldman Sachs.


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PAX Team Members (11)

Sheila Bair

Board director

Bill Bradley

Board director

Robert Herz

Board director

Jim Manzi

Board director

Andrew Chang

Coo

Duncan Niederauer

Board director

Rachel Nelson

General counsel and chief compliance officer

Rajesh Nair

Vp of engineering

Bharath Jayaraman

Vp of people

Marisa Goldberg

Head of talent

Jake Skinner

Strategic initiatives

compare_arrows PAX Exchanges

PAX Markets

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# Exchange Pair Price 24h Volume Trusted
# 1 Binance PAX/USDT $ 1.003304 $ 2,897,202 check
# 2 Binance PAX/BTC $ 1.002356 $ 2,655,478 check
# 3 Binance PAX/ETH $ 1.005899 $ 714,381 check
# 4 Binance PAX/BCH $ 1.003529 $ 490,770 check
# 5 Binance PAX/XRP $ 1.000645 $ 77,078 check
# 6 Binance PAX/LTC $ 1.003802 $ 59,627 check
# 7 Binance PAX/TRX $ 1.000571 $ 48,289 check
# 8 Binance PAX/BNB $ 1.003258 $ 43,634 check
# 9 Binance PAX/EOS $ 1.004196 $ 19,143 check
# 10 Binance PAX/USDC $ 1.001232 $ 14,239 check

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