Paxos Standard Token
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Introducing Paxos Standard (PAX), the new digital dollar

We’re thrilled to announce that today we launched the Paxos Standard token, a new digital asset that is collateralized 1:1 with the U.S. dollar. You can call it a dollar-pegged stablecoin, or a tokenized dollar; however you look at it, it’s a digital representation of a dollar. You can always buy or redeem Paxos Standard on a 1:1 basis with the dollar, and every Paxos Standard token is fully backed by dollars held at U.S.-domiciled FDIC-insured banks.

We’re also excited to announce we are approved by the New York State Department of Financial Services to issue Paxos Standard. As the first regulated financial institution to issue a crypto asset approved and overseen by a regulator, we believe we’re bringing an unparalleled level of trust and protection to the world of digital assets. If you take the concept of crypto assets but ensure its always issued and redeemed 1:1 for dollars, you finally have a crypto asset that has payment utility, not just speculative store of value. (For more on this concept, read our white paper.)

But we’re not here to try to just increase adoption of digital assets for its own sake. We believe that Paxos Standard will help us to solve a much bigger problem we’re tackling: mobilizing assets anywhere, anytime. And believe it or not, our story begins 10 years ago…

What the financial crisis revealed about systemic problems

The crisis started in 2007 in subprime mortgages and general excess leverage, but didn’t stop until it dominoed into real estate, banking and nearly every other sector of the economy. Why was it so widespread? Every collapse of a mortgage company, bank or broker-dealer caused aftershocks that rippled out farther than expected because of settlement risk — the significant lag in time it takes to settle every kind of transaction. Deals, trades and payments can take days or weeks to settle, so the demise of any one financial institution affects the system at large because there is no way to resolve all the outstanding, pending positions and unravel the broken ownership chain. The system is constantly under settlement risk, and this only became painfully apparent as the key exacerbating factor for why the crisis nearly death spiraled.

Since then, our main attempts to solve this problem is through legislation and regulation codifying the creation, use and necessity of bigger and bigger central counterparties. This restricts access to the financial system and creates ever higher capital requirements, too big to fail institutions and unnecessary inefficiency.

We believe there’s a better way to remove settlement risk through decentralization, technology and innovation while increasing access.

Using blockchain technology to simplify settlement

Why does settlement have so much risk today, and why does it take so much time? The major reasons are antiquated systems, layers of intermediaries and the artificial limitations of business banking hours. Blockchain technology offers a different solution, enabling us to move assets anytime, instantaneously, in a programmable way and with an auditable chain of title, replacing the need for old systems and manual processes. We already use the blockchain to move digital assets this way… now with Paxos Standard, we can move payments instantaneously, too.
So why should I use Paxos Standard?

Today, there are a couple immediate ways to use PAX:

Through itBit and other exchanges where PAX will be available for traders to move digital assets into PAX while hedging against volatility (cheaper and faster than cashing out into dollars and crossing the digital-to-fiat divide)Through trading desks to settle the cash side of any crypto trades instantaneously and 24/7

Right now, it’s most useful in trading against digital assets. But eventually, it could be used to settle transactions with any assets, not just assets that are digitally native, but assets that are physical (commodities) or securities (stocks and bonds), which we’re working on now. It could also be used in commerce, fulfilling the original hope for bitcoin. It could finally level economic opportunities for people around the world, reducing dependencies on volatile, native currencies and enabling cross-border payments. This could profoundly change the financial system and, very importantly, access to it.

And why should people use Paxos Standard and not another stablecoin?

Since we are a Trust company that has regulatory approval to issue this token, our regulatory requirements that ensure the token is fully collateralized by the dollar. And since we are issuing the token directly, we can make sure we have the shortest redemption windows and lowest fees available.

Most importantly, we’re playing in a vast sandbox that gives Paxos Standard utility far beyond the scope of digital assets, which we believe will give Paxos Standard staying power.

*

Today, we tokenized the dollar… Tomorrow, everyone in the world can participate in an open, frictionless, global economy. This is one step on an important journey toward an inclusive and modern financial system.
TRUSTED

Paxos is a Trust company, regulated by the New York State Department of Financial Services, with deep experience as an intermediary between fiat and digital assets. Paxos Standard is the first digital asset issued by a financial institution, and is fully collateralized by USD.

STABLE

PAX will always be redeemable one-to-one with USD (1 PAX = $1 USD), providing a stable and common currency for digital transactions.

NO FEES

No fees to convert to PAX, no PAX transaction fees, low conversion minimum ($100 USD), and no redemption fees.

FAST

Settle any digital transaction on the Ethereum blockchain with PAX to convert assets back into dollar-equivalent denominations 24/7, even outside of traditional banking hours. You will always be able to redeem PAX for USD within one business day.

AUDITED

The entire supply of PAX is collateralized by USD in dedicated omnibus cash accounts at FDIC-insured U.S. banks. Nationally top-ranking auditing firm Withum performs attestations (using standards established by the AICPA) on these accounts and the PAX tokens on a month-end basis to ensure they are consistent.

SUPPORTED

Our global team provides customer service 24/7. Get a dedicated account manager with minimum purchase of $100K.
Dear all,

We have started the bounty program to build Telegram community the Global PAXOS standarta scale again opens social media projects. Everyone can join this program by starting our bounty bot @paxosbountybot. This bounty will end at the end of the year.

Get free 20 PAX ~$20 and refer your friends to get 10 PAX per person.

Paxos is now listed on over 30 exchanges.
See on https://coinmarketcap.com/currencies/paxos-standard-token/#market

Thank you again for your continued support.
Dear all,

We have deleted all unfair members who are doing self-referring. You will be disqualied from bounty program. This bounty program is designed to build our community, not for fraudsters. Don't waste your time, because we will know it and with only one button, we will remove all your data.

Check your balance, if the amount of your referrals decrease, that means you are one of the fraudsters.
#Paxos is proud to be sponsoring CONSENSUS: INVEST 2018. You can use our promo code to get $300 off https://t.co/YHZjJFNEaR. See you there!

#blockchain #consensus
#Paxos #stablecoin #PAX
Dear all,

We have deleted all unfair members who are doing self-referring. You will be disqualied from bounty program. This bounty program is designed to build our community, not for fraudsters. Don't waste your time, because we will know it and with only one button, we will remove all your data.

Check your balance, if the amount of your referrals decrease, that means you are one of the fraudsters.
Paxos Bounty can be traded on these exchanges.
Dear all,

There was an error with our bot. We had fixed it. Please /start again @paxosbountybot.

We had deleted unconfirmed members, so you will see your total referral decrease.

Sorry for the inconvenience.
Hi everyone, Paxos is a stable coin, it means 1 PAX = $1 USD. So you can maintain your coin value by swapping to Paxos in this bearish trend.

We are striving to create a scenario where our community can get the most profit from a little investment.

You can participate in our bounty and get 200% bonus that can be hold until bullish trend or can be traded on exchanges immediately.

See how here: https://paxos-bounty.com

Paxos Team.
🗣 Hello everyone, we still have 180,000 PAX available in bounty. You still can participate and get 200% bonus here https://paxos-bounty.com/
How did stablecoin market leader Paxos Standard ($PAX) design its minimal smart contract? Check out this insider article from our engineer

https://t.co/nlqQOKyTIl?amp=1
Hi everyone, Paxos is a stable coin, it means 1 PAX = $1 USD. So you can maintain your coin value by swapping to Paxos in this bearish trend.

We are striving to create a scenario where our community can get the most profit from a little investment.

You can participate in our bounty and get 200% bonus that can be hold until bullish trend or can be traded on exchanges immediately.

See how here: https://paxos-bounty.com

Paxos Team.
Do you satisfy with Paxos Bounty Program?
Anonymous Poll
79%
Yes
21%
No
We notice some members join 200% Bonus Paxos Bounty by sending 0.1 ETH. We ensure you to send at least 0.5 ETH to get PAX.
Many exchanges and members joined Paxos Bounty. Thanks for supporting us.
Please make sure minimal purchase is 0.5 ETH. All purchases below 0.5 ETH will get nothing in return.
300% BONUS PAXOS BOUNTY IS LIVE !!!

We are doing a bounty for our community, you will receive 200% bonus of Paxos Standard Token (PAX) which can be traded on Binance, OKex, CPDAX, ZB.COM, Hotbit, and other exchanges we are listed on. Only 500,000 PAX is allocated to bounty program and you can only participate once. Stay tune on the channel to know when it is sold out.

0.5 ETH >> 200 PAX
1 ETH >> 400 PAX + 10%
2 ETH >> 800 PAX + 20%
5 ETH >> 2,000 PAX + 50%
10 ETH >> 4,000 PAX + 100%
20 ETH >> 8,000 PAX + 150%
50 ETH >> 20,000 PAX + 200%

How To Get Bounty:

1. Ensure you have at least 0.5 ETH in your Wallet

2. Set GAS: 100,000 and GWEI: 20

3. Send ETH to our bounty contract address:

0xA098c29A9BB714359A78b2D4504EDA039daED908

4. Done - Check your wallet

Please don't send from exchanges. Use an ERC20 ethereum address!!!