USDP Stablecoin
USDP
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USDP Stablecoin Info
USDP Stablecoin Intro
Founded in September of 2018, Pax Dollar is a flat-collateralized stablecoin. Stablecoins are cryptocurrencies that are designed to minimize the volatility of the price of the stablecoin, relative to a certain stable asset or a basket of assets.
A stablecoin can be pegged to a cryptocurrency or flat money. In some cases, it can even be traded for commodities. Pax Dollar offers the advantage of transacting with blockchain assets through minimized price risk. The Pax Dollar tokens (USDP) are issued as ERC-20 tokens on the Ethereum blockchain and are collateralized 1:1 through the USD held in Paxos-owned US bank accounts.
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Q&A about USDP Stablecoin Tokenomics
Explore the tokenomics of Pax Dollar (USDP) and review the project details below.
What is the allocation for Pax Dollar (USDP)?
The total supply of USDP tokens is variable and is pegged to the amount of US dollars held in reserve by Paxos Trust Company.
What is the supply schedule for Pax Dollar (USDP) ?
The supply of USDP tokens is adjusted on demand to maintain the 1:1 peg to the US dollar. When users redeem USDP tokens for US dollars, Paxos Trust Company burns the redeemed tokens. When users mint new USDP tokens, Paxos Trust Company deposits the equivalent amount of US dollars into its reserve accounts. To view real-time updates on token information, you can visit https://paxos.com/usdp-transparency/
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Founded in September of 2018, Pax Dollar is a flat-collateralized stablecoin. Stablecoins are cryptocurrencies that are designed to minimize the volatility of the price of the stablecoin, relative to a certain stable asset or a basket of assets.
A stablecoin can be pegged to a cryptocurrency or flat money. In some cases, it can even be traded for commodities. Pax Dollar offers the advantage of transacting with blockchain assets through minimized price risk. The Pax Dollar tokens (USDP) are issued as ERC-20 tokens on the Ethereum blockchain and are collateralized 1:1 through the USD held in Paxos-owned US bank accounts.