About stable coin paxos standard (PAX) explained by @azeemtariq

azeemtariq (62)SP Level 1in Steem Infinity Zone • 2 years ago

I will talk about a stable coin called Paxos Standard (PAX).
So let's get started.

Paxos Standard (PAX)

The Paxos Standard is a full feedback on the authorized stable coin of the US dollar issued by Paxos Trust in September 2018. This is one of the companies and projects that are trying to offer an alternative to Tether Estates QUO.

These include Gemini Dollar Coin Base USD, True USD etc. , meaning it could be. Ideal coin to handle your corrupt gains without converting to Fiat. We all know the questions that are circulating around Tether so this could be a more attractive option.

The tax company itself was originally founded in 2012 as the Paxos Trust Company, which operated an 8-bit crypto currency exchange prior to the launch of the new Paxos Standard offering. Something that adds some credentials to pack our standards is regulatory status. They are formally registered as a New York Trust Company and are therefore regulated by the New York State Department of Financial Services.

The team behind the Paxil standard is open and transparent. His background is diverse in firms including Goldman Sachs, Google and Liberty City Ventures. All of the directors who have served on the FDIC have served on the Senate Finance Committee to further enhance the credibility of the offer.

PACs

PACs are smart contracts that have been audited by so-called labs and the audit of bank accounts will be done by the auditing firm. Now technically the amount of PACs is exactly equal to the amount of USD in reserve for circulation. Each time they release a PACs in USD, the relevant token is destroyed.

These coins can be secured in a trust company in which the fiat funds have run out in US dollars. Apply It is still up to them whether they decide to redeem them or not. This is not isolated from our standard PAcs although you face the same risk with USDC and Gemini Dollar and a side note here decentralized alternative. There are alternatives like make a douse dai.

In terms of trading, Paxos has so far become the most widely used cryptocurrency in the fastest time frame with the cooperation of more than 24 exchanges and 12 OTC desks as the pack quickly settles and verifies deposits. Offer and it has become a reliable stable coin among traders. Numerous exchanges have a healthy volume and therefore the token liquidity is quite strong. You can also trade other cryptocurrencies for pack on these companies which allows you to exchange coins free of charge but they have diminished due to the ease of transfer of assets and trade.

It's all about the PAX stable coin. I hope you all like this post of mine.