The Steemit Crypto Academy Week 7: Introduction to Defi and Yield for @eulalia1202
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Basically decentralized finance is an open source network with blockchain smart contract applications to provide you with a completely attractive service for investors without relying on any entity to retain their assets, many people nowadays depend on defi because It provides a wide variety of positive benefits for those who know how to take advantage of them and know the subject.
What is Paxos Standar (PAX).
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It is a platform created in 2018 by Paxos Trust Company for decentralized finance, Paxos is an ERC-20 token based on ethereum blockchain, Paxos is a stable currency that is anchored to the US dollar 1 PAX - 1 USD. The good thing about this currency is that it is under the financial rules of the United States since in that country is where the banks have the full support of the stable currency, this currency is preferred by investors for its great ease of purchase, to avoid the volatility of the market, the speed of its operations and the transparency that the platform emits in its operations.
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Advantages and disadvantages of Paxos Standar (PAX).
Advantage
- Serves as the sender and receiver of your ERC-20 tokens from any exchange platform that accepts ethereum.
- Transparency in its operations, since it makes them visible to the public.
- All its tokens are backed with real USD in national banks.
- There is no limit on the issuance of Paxos tokens.
Disadvantages
- All stablecoins seek to dominate the world with a single function, to be the best currency that can be used to pay for everything.
How to acquire Paxos Standar (PAX).
Through its official website, the investor creates his user and can buy tokens by debit card in the internal market of the platform, or can be exchanged for ERC-20 tokens from any exchange platform that accepts ethereum such as:
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Conclusión
Currently, a large number of stablecoins are coming to the market, most with the same objective and that is to be the one chosen by investors from all over the world, but before reaching this objective, they have to battle with the large number of stablecoins that They exist, and Paxos is no exception as investors continue to choose it for its great qualities in the market and one of them is its transparency and its great positive track record in the financial market.
thanks.
@gbenga
@steemcurator01
@steemcurator02
@steemitblog
Thanks for being a part of my class and for participating in this week's assignment. I hope you learned from the class as the aim of the school is to teach and allow people to learn alongside.
Review
You didn't write about the circulating supply of PAX as well as you didn't put in several pieces of information in it. Please endeavor to make your content more detailed in the future.
Rating 5