PAX

SoonMoonn

If you don’t trust stablecoins. One way to keep your crypto to be somewhat stable is to hold PAX Gold, it’s pegged to the price of Gold. That’s one option.

NoVegas0

I avoid Tether like the plague, i use USDC, DIA or PAX as my stable coins.

ellisschumann

PAX and DIA. I just haven’t seen very good gains with these ones.

roberthonker

**Taken from u/aminok's submission from last round.** Disclosure: I own ETH Ethereum's network effects as the dominant smart contract platform are overwhelming: * Ethereum's momentum as the primary platform where crypto-assets are issued has grown over the last three years, with the share of the total token market cap constituted by Ethereum based tokens rising from 73.81% in July 2017, to 98.40% in July 2020 [(source)](https://medium.com/@amincad/ethereum-achieves-absolute-dominance-of-token-market-f7ef9c26ede). The entire market has steadily converged on Ethereum as the settlement layer for crypto-assets and Ethereum's ERC20 token interface as its technology standard for digital assets. * Ethereum is the most utilized crypto platform in the world, with more fees being paid to Ethereum miners than any other project's. The dominance extends beyond just Ethereum, to Ethereum-based dApps, with nine of the next ten largest revenue earning crypto projects in the world being based on Ethereum, as this charts shows with all the projects highlighted in pink being Ethereum-based: [https://cryptofees.info](https://cryptofees.info) * Almost all DeFi applications operate on Ethereum, with [97 of the top 98 DeFi projects tracked by DefiPulse](https://defipulse.com/) being Ethereum-based. These DeFi apps are all interacting to create an increasingly sophisticated open financial system on Ethereum that gives the platform an increasingly insurmountable advantage over potential competitors. * All of the major stablecoins; Tether (USDT), USD Coin (USDC), True USD (TUSD), Binance USD (BUSD), and Paxos Standard (PAX), use the ERC20 standard. * The top three cryptocurrency exchanges in the world by trade volume, Binance, Huobi and OkEx, have all launched [(source)](https://www.hecochain.com/en-us/) or are launching [(source)](https://www.okex.com/okexchain) permissioned instances of Ethereum, establishing the Ethereum Virtual Machine and Ethereum-based wallets like MetaMask as the technology standard of and the primary gateway to the emerging digital asset sector, respectively. Beyond market adoption, the Ethereum development community is by far the largest in the cryptocurrency space, and its advantage over all other smart contract platforms has rapidly grown over the last three years: * Ethereum has an overwhelming lead over all other cryptocurrency and blockchain projects in the number of developers working on it according to the recently released [Electric Capital Developer Report (2020)](https://medium.com/electric-capital/electric-capital-developer-report-2020-9417165c6444). This lead is accelerating, with a 215% increase in the number of developers working on Ethereum since 2017, and with the number of monthly developers increasing by 300+ between Q3 2019 and Q3 2020, which bucked the downward trend seen in the rest of the cryptocurrency market. [(source)](https://i.imgur.com/Hfo9rTP.jpg) * The overwhelming majority of Research and Development on blockchain scalability is being done on Ethereum-based projects [(source)](https://github.com/Awesome-Layer-2/awesome-layer-2). Groundbreaking scalability solutions that have recently launched on Ethereum Mainnet include Loopring and zkSync, which use zkRollUp technology to enable thousands of transactions per second to be processed on Ethereum layer 1: [(source)](https://medium.com/loopring-protocol/loopring-pay-is-live-zkrollup-transfers-on-ethereum-770d35213408)

MaMoSotho

USDC is backed by 60% cash reserves. BUSD is PAX with Binance branding and backed by 90% cash reserves.

MaMoSotho

PAX/BUSD, 94% cash reserves USDC 61% cash reserves

Kira__________

PAX? Seems most verifiable.

iflvegetables

BUSD is actually pretty awesome for a regulatory standpoint. Paxos issued it and IIRC, not only it Is fully collateralized, but also insured. I actually think PAX/USDP has one of the best shots of surviving stablecoin regulation efforts.

_TheWolfOfWalmart_

PAX and DAI are stablecoins.

_TheWolfOfWalmart_

OK, this is interesting... CB Pro just added PAX and DAI trading pairs with USD and USDT. Does this have anything to do with any inside knowledge about Tether?

LifeExtraordinaryT

What's new it's the Bloomberg story. I dunno, Tether seems really fishy to me. Gemini Dollar, PAX, and (maybe) USDC seem more legit to me. To my knowledge Gemini Dollar and PAX are the only ones not partially backed by corporate debt.

eosinophille

ELI5 how Tether going tits up would mean disaster for proper trusts like USDP/PAX and GUSD?

The_Terribke_Puddle

Funny how everybody here shills USDC. PAX and BUSD are much better backed than USDC.

CrowdGoesWildWoooo

FTX didn’t support unit protocol. The confusion came because PAX renamed to USDP despite USDP is being reserved for a small cap “defi stablecoin”. The problem is that the writer did not maintain a healthy dose of skepticism to even bother making test transaction when it is quite clear that : 1. It is a micro cap stable coins 2. It doesn’t even have many holders (700 holders), FTX served noone if the token is for 700 holders only. 3. Protocol dev have 0 connection with FTX. Interpreting the terms and condition the 5% clause only apply if : 1. Assets needs to be supported by FTX 2. User deposited token to the wrong address but still under your possession The case with OP is that it doesn’t fulfill both and therefore it falls under “tokens are not recoverable” case (or in another words “do as i wish”).

AlphaHuman304

>I'm a 19 yr old student with 5000 Usd. RIP your inbox. It'll be swarmed with random strangers claiming they can 10x your money in 1 week. Stay the fuck away from them & don't answer any DMs. With that out of the way, I'd suggest invest $1000 in Crypto and forget it for 4 years, invest $500 in Stock Market Index Funds(like S&P-500), and $500 in Gold (check out PAX-G). If you don't know much about Crypto, just go for 60:40 ETH BTC portfolio, it'll outperform almost every portfolio in the long term. Rest $2000? Invest in yourself. Buy an online course or something, anything that'll help you improve your skills, in your domain. Cheers!

Leo_o3o

Gold backed crypto coins like PAX maybe

aliensmadeus

Neither, use $PAX, $UST or $DAI, if not available then $BUSD or $USDC, but don‘t use or support $USDT (Tether)

meatwaddancin

BUSD is just Binance branded PAX, or now "USDP". So that's another good option. USDC had also recently committed to holding more of it's reserve as actual dollars and safer short loans.

PorousCello1337

yes, there are better candidates. PAX for instance. i’m far from an expert, I’m going to say it’s probably because most exchanges take tether since it was the original “stablecoin” hard to knock down someone that got a head start but I sincerely share your concern.

MONGSTRADAMUS

does that have to do with vs the British pound, I think vs USD its not moving at all. Its one of the safest cash backed stablecoins from what I know. [USDP as its called now , originally called PAX.](https://www.coingecko.com/en/coins/pax-dollar)

jun_039

DAI and USDP (formerly PAX) are both stable coin pegged to the USD value. PAX Gold (PAXG) is not a stable coin. But a coin pegged to the value of physical gold.

DetroitMotorShow

https://twitter.com/whale_alert Just look at the last several whale txns. There is nothing bullish there whatsoever 5000 BTC sent to exchange and dumped OVer 300m USD stablecoins (PAX,USDC etc) burnt at Binance (i.e. cashed out by whales in fiat) The opposite of any kind of bullish action

Acceptable_Novel8200

If I am not mistaken, there is coin named PAX pegged to Gold

JustTypeItNow

PAX Gold is digital gold.

1C9R0R4

Its like people do not understand. In fact, how do you figure the current plethora of stablecoin options are any better? USDT/USDC/DAI/BUSD/PAX etc, they are all backed by what? The only interesting one I see with worthwhile volume is UST, because of the LUNA utility component, however I have no idea if that is truly unique or fully scalable. That said, as everything stands today I would probably rather interact with a USA CBDC to park gains. Obvious caveat here is that I cannot count on the regulators to cripple the industry/market in the process. I am not saying resistance is futile because they (regulators) will take the whole pie if you allow them. But lets not pretend like we will be able to avoid CBDCs, they are inevitable for the next phases of mass adoption.

Naeril_HS

Tether does not disclose its holdings for USDT and is suppose to have about 15 people to manage their massive multi billions holdings. Whereas BUSD is Binance stablecoin and they are partners with PAX for it (and PAX has many audited stablecoins on their own so I feel it has more credibility) USDC is overall even more credible but has less trading pairs

Savik519

Ultimately I think the Fed will create framework for existing stablecoins to comply with Fed regulations/control and allow them to operate under the umbrella of being a “CBDC.” USDC, TUSD, PAX, GUSD, etc can all chose to follow regs and become part of the CBDC program.

StableRare

I actually think this is somewhat bullish in the long-term since it pushes the industry where it needs to go. The solution here is true decentralization and using on-chain DeFi protocols instead of these centralized entities.. The major projects need to decentralize the entire stack. That means DAO for governance, IPFS or Arweave for the front-end, and even ENS to replace DNS (hopefully a browser such as Brave or extensions to Firefox will support natively) and decentralized crypto assets only including stablecoins. DAI will need to drop USDC/USDT/BUSD/PAX from its collateral pool and other completely alogorithmic stablecoins such as Rai (not dollar-pegged), LUSD, FEI and UST will become the stable assets of choice. Many of the dApps which are prone to regulatory capture will need to either decentralize via a DAO (including closing their foundations and moving the treasury’s to the protocol treasury) or be forked by pseudo anonymous teams or new DAOs. The clear winners here are the Layer 1s and 2s that can host these platforms in a secure, scalable and decentralized manner and the governance tokens for these dApps and DAOs as long as they have a value capture mechanism for then token holders. It does take a long time horizon but this is the best way forward. Hopefully over the span of years, voters will vote for changes in politicians who are making these draconian laws and appointing these regulators who do not reflect the will of the people. But lobbying politicians that can be convinced and working to donate to competitors of the politicians hostile to crypto will take time. At the end of the day, the only place we cannot win with technology (at least at scale) is at the fiat off- and on-ramps. Those will require the political changes and those changes need to be funded via grants via the crypto community.

StableRare

I actually think this is somewhat bullish in the long-term since it pushes the industry where it needs to go. The solution here is true decentralization and using on-chain DeFi protocols instead of these centralized entities.. The major projects need to decentralize the entire stack. That means DAO for governance, IPFS or Arweave for the front-end, and even ENS to replace DNS (hopefully a browser such as Brave or extensions to Firefox will support natively) and decentralized crypto assets only including stablecoins. DAI will need to drop USDC/USDT/BUSD/PAX from its collateral pool and other completely alogorithmic stablecoins such as Rai (not dollar-pegged), LUSD, FEI and UST will become the stable assets of choice. Many of the dApps which are prone to regulatory capture will need to either decentralize via a DAO (including closing their foundations and moving the treasury’s to the protocol treasury) or be forked by pseudo anonymous teams or new DAOs. The clear winners here are the Layer 1s and 2s that can host these platforms in a secure, scalable and decentralized manner and the governance tokens for these dApps and DAOs as long as they have a value capture mechanism for then token holders. It does take a long time horizon but this is the best way forward. Hopefully over the span of years, voters will vote for changes in politicians who are making these draconian laws and appointing these regulators who do not reflect the will of the people. But lobbying politicians that can be convinced and working to donate to competitors of the politicians hostile to crypto will take time. At the end of the day, the only place we cannot win with technology (at least at scale) is at the fiat off- and on-ramps. Those will require the political changes and those changes need to be funded via grants via the crypto community.

StableRare

I actually think this is somewhat bullish in the long-term since it pushes the industry where it needs to go. The solution here is true decentralization and using on-chain DeFi protocols instead of these centralized entities.. The major projects need to decentralize the entire stack. That means DAO for governance, IPFS or Arweave for the front-end, and even ENS to replace DNS (hopefully a browser such as Brave or extensions to Firefox will support natively) and decentralized crypto assets only including stablecoins. DAI will need to drop USDC/USDT/BUSD/PAX from its collateral pool and other completely alogorithmic stablecoins such as Rai (not dollar-pegged), LUSD, FEI and UST as the stable assets of choice. Many of the dApps which are prone to regulatory capture will need to either decentralize to a DAO (including closing their foundations and moving the treasury’s to the protocol treasury) or be forked by pseudo anonymous teams. The clear winners here are the Layer 1s and 2s that support these changes and the governance tokens for these DAOs as long as they have a value capture mechanism they can use. It does take a long time horizon but this is the best way forward. Hopefully over the span of years, voters will vote for changes in politicians who are making these draconian laws and appointing these regulators who do not reflect the will of the people. But lobbying politicians that can be convinced and working to donate to competitors of the politicians hostile to crypto will take more time. At the end of the day, the only place we cannot win with technology (at least at scale) is the fiat off and on ramps. Those will require the political changes and those changes need to be funded via grants via the crypto community.

cj-tb

you know the market is down when PAX and USD coin are on the top gainers list on CoinMarketCap. 🤣🤣

CanChillorNoCanChill

I guess to counter #2 point. They are getting rid of stablecoins. >Banning the use of Stablecoins Subchapter I of chapter 51 of subtitle IV of title 31, United States Code, department of treasury regulation, will be amended, to read as follows: “(a) IN GENERAL.—Beginning on the date of the enactment of this section, no person may issue, use, or permit to be used a digital asset fiat-based stablecoin that is not approved by the Secretary of the Treasury under subsection (b).”(27) Which is essentially, GUSD, DAI, USDT, USDC, PAX, BUSD, etc. Which gives power solely to Central Banks, in my opinion. As I think it won't be easy for commercial companies to get approval from the Secretary of the Treasury. In part, I think its because, most companies offer a better interest rate on returns for an investors dollar than the current banking system.

PorousCello1337

PAX

PumpProphet

If you were here during 2018, you'd know what happened. People fled tether and the whole market pumped. Everyone moved to other stablecoins such as GUSD, BUSD, TUSD, USDC, PAX, UST, etc. There are already enough alternatives that reliance on USDT has been decreasing over the past 2 years.

PorousCello1337

i’m ignorant to active trading, i imagine people would flock to USDC, DAI or PAX or worse case start trading with BTC pairs more often. Am I close??

jun_039

Paxos Global rename/rebrand their stablecoin from PAX to USDP. Pax Dollar (USDP)

iflvegetables

The lack of transparency in the backing collateral. The ratio of employees to managed funds. They skirt audits and settle out of court. Plenty of indicators the value is not 1:1. Other stablecoins like PAX, USDC, and BUSD are more transparent, respond to well to criticism, are audited, properly collateralized, and meet regulatory compliance standards. Tether printing money and holding low cash ratios puts the entire sector at risk of a crash.

AbysmalScepter

Centralized stablecoins generally have two major risks: * Misappropriation of funds by custodian * Asset seizure or censorship by central authorities USDC and USDT are questionable on both accounts, with USDT being worse than USDC. GUSD is the best on account 1 but is still vulnerable on account 2. Ultimately, we as a community need to either embrace crypto-collateralized stablecoins (ie, DAI before they started using USDC) or algorithmic stablecoins (ie, Terra UST) that are truly decentralized and thus unassailable. I do give props to GUSD though and it's my preferred dollar-backed stablecoin. Also, PAX Gold goes through the same rigorous auditing if you're looking for gold exposure (I hold some for further diversification).

MONGSTRADAMUS

If you want safety of cash backed stablecoin it should go like this BUSD/USDP/PAX>GUSD>USDC>USDT. Thats just based on percentage of cash in each stablecoin. Liquidity wise USDT/USDC/BUSD probably in that order if liquidity is your main concern.

Scary_Milk

Never heard of PAX, where did you here that?

dcur3

on kucoin its down to .65 all coins paired with it are down big ETH/PAX $2000 ETH/XRP $.65

Cyn8_

# How safe is PAXOS Gold? As far as my understanding goes, it's a stable coin backed by gold. 1 PAXG - 1 troy ounce of gold. Can I trust them? [PAXOS - website](https://paxos.com/) [PAX Gold - website](https://paxos.com/paxgold/) I don't want to be investing in a coin like USDT where they claim to be something with virtually no proof. Thank you.

tatsopap

Same thing happened to me when i first started with crypto. I thought PAX was a coin like every other. It took me a day to realise what i have bought.

DingDongWhoDis

PAX Gold? Meld Gold (on Algorand)?

MONGSTRADAMUS

coin isn't through binance per se paxos is the one minting the BUSD coins so theres that. If you want you can go with PAX/USDP or GUSD they are very good stablecoins.

MONGSTRADAMUS

it is if you are concerned about 100% cash or cash equivalents. Probably out of the "bigger" cash backed stablecoins it should go BUSD/PAX>GUSD>USDC>USDT. [here](https://paxos.com/2021/08/24/the-digital-dollar-that-always-equals-a-dollar-paxos-standard-pax-is-now-pax-dollar-usdp/) is an blog post about how BUSD/PAX/USDP is now 100% cash backed. Also [here](https://paxos.com/2021/07/21/a-regulated-stablecoin-means-having-a-regulator/) is slightly older article comparing BUSD/PAX, when it was 96% cash , compared to USDT and USDC.

synocrypto

Because it has the highest liquidity of all stablecoins. Some smaller exchanges only support USDT. And additionally it’s been working perfectly fine for year now. There is no proof that PAX/BUSD or USDC has better backing (although I consider USDC a bit safer, because it’s US regulated and linked to a NASDAQ company).

Chimp_Meat_Taco

No, RSR backs the stablecoin from defaulting. RSV is the stablecoin. Here's how it works: Their is a smart contract that holds stablecoins and other assets. So USDC, DAI, and PAX are in a basket. RSV is issued and in circulation and this RSV is directly redeemable for assets in the smart contract. The smart contract also has staked RSR. Pretend for a second that PAX defaults because they fail an audit. Now all of the staked RSR can replace the failed PAX and maintain the value of the basket. This is bad for stakers though as they lose their RSR because they are insuring the value of the stablecoin. On the flip side the assets can generate revenue. If you stake RSR then you are entitled to a fraction of that yield and make money. Essentially RSV is a stablecoin backed by a diversified pool of stablecoins AND a pool of staked RSR. This greatly decreases the risk of losing the stable peg. If you own and stake RSR you are essentially an insurance company that is the last line of defense for the stablecoin. TLDR: If you think people in third world countries want to have access to stable money in a Venmo-like app. You should invest in RSR and stake it.

Redman2009

nah, i tried a PAX dry leaf vape and wasn't a huge fan, so just went back to packing cones.

jobcloud

None of my coins ever moon, I hold DAI, TETHER, USD COIN, PAX DOLLAR

beklog

PAX and DAI are great.. would love to convert my gains into stablecoins once the in-app swap in Celsius is open for everyone.

PM_ME_WOMENS_HANDS

Paxos says that PAX (possibly soon to be called USDP) and BUSD (Binance stablecoin, but it's issued by Paxos) are backed by 96% cash/cash equivalents and 4% US treasury bills, which I personally see as a cash equivalent anyway. This is more cash/equivalents than USDC, and WAY MORE than USDT. Although Center/Circle claim USDC will be 100% cash/equivalents sometime in the near future. So anyway, as far as the collateral backing it, it seems to be the best option for a centralized stablecoin. I don't know much else about it outside of the collateral though. https://medium.com/coinmonks/paxos-reveals-pax-and-busd-stablecoin-collateral-675cb164e36b

CyberPunkMetalHead

Yeah that’s true, do you happen to know the fundamentals of PAX?

PM_ME_WOMENS_HANDS

hmmm, USDP is just the new name of Paxos's stablecoin which was originally called PAX. I wonder why they relisted it instead of just changing the name. Is PAX still available on binance?

Moksha66

I don't understand why Tether needs to be backed. Are coins like DIA or PAX backed by fiat or equivalent?

jgeotrees

UST because it's at least algorithmically backed if not literally 100% backed by dollar bills. Or PAX which is allegedly one of the most well-backed.

NewStarPT

USDC, USDT, TUSD, DAI, PAX - and leave all on staking/landing and compounding

Independent-Today431

How about PAXG? Every PAX Gold token is backed by an ounce of allocated gold.

MaMoSotho

94% is better than USDC's 60%. PAX and BUSD (PAX with Binance branding) all the way. USDC wins public perception tho.

LoveLightLibations

PAX dollar has the most liquid deposits, according to their attestations. I think the holdings are nearly 90% cash. USDC is good too, but it's liquid cash holding is less than PAX. However, USDC is more "usable" than PAX dollar since it appears in more trading pairs. UST is also good with since it's algorithmically pegged to a dollar.

quicknn19

USDC definitely, will be backed by 100% cash and cash derivates. Other the USDC, you can consider PAX ( Paxos) backed by 99% cash & cash derivates.

milonuttigrain

American e-commerce platform SHOP.COM now accepts cryptocurrency payments following a partnership with payment provider BitPay. List: BTC, ETH, ETH, LTC, USDC, PAX, DAI, BUSD etc 🇺🇸

Parmar_T

PAX

The_Terribke_Puddle

Everybody talks about USDC but PAX is better

Doydoy123

PAX is also good (BUSD is a white labelled token from Paxos)

mialomit

Lol who said anything about tether, there are other stables you know (USDC, PAX etc)

Lopsided-Watercress

I've come up with a solution if anyone cares: I think I'll start by staking ADA from a hard wallet and then later trade it for PAX for the BlockFi interest (waiting either 12 months for the advantageous long-term capital gains tax or if there's a serious bull run before then). Waiting on trading to PAX will buy me time to see if anything comes from the regulatory scrutiny that BlockFi and stablecoins are under right now.

UnstoppableOnslaught

PAX/BUSD is really solid both are 100% backed by cash if I'm correct, plus it's a fully regulated financial institution.

Party-Height-6830

I got a PAX vape pen and an oil sublingual tincture. I live in the Deep South (Lousiana, but not New Orleans) and I thought I would be 60 or something before getting medical in my town. Life is good.

MONGSTRADAMUS

BUSD/PAX already is 100% backed by cash so that should be the preferred one if you want to hold it for cefi lending

Chimp_Meat_Taco

Someone should take their baseball card collection, NFT each and every card. Then toss the cards in a vault. Back each NFT with a physical item and be a custodian like USDC or PAX Gold.

Chimp_Meat_Taco

Someone should take their baseball card collection, NFT each and every card. Then toss the cards in a vault. Back each NFT with a physical item and be a custodian like USDC or PAX Gold.

Patneu

Well, there *are* tokens like PAX Gold, so the idea isn't that far fetched.

jgeotrees

Yeah I would personally go USDC or PAX, just not USDT. You can always convert to USDT when you're ready to buy if the coin you're trying to buy doesn't have a USDC or PAX pair on any of the exchanges you use. But personally I would also just take initial investment out in fiat and put it into something with a bit less risk, either S&P or straight up savings. I'm a bit more risk averse than most people here though it would seem.

Leptis1

Polkadot and USDT are very different coins. USDT is a stablecoin (whose job is to keep their price as close as possible to the USD) and polkadot is a completely different project, it's not a stablecoin, so you can't really compare them. Better alternatives to USDT are DAI, PAX and (to me in lesser degree) USDC. These are all stablecoins trying to keep a price peg on the USD.

Leptis1

Misinformation? What exactly is misleading about the post? It's a fact. Coinsmart is completely voiding USDT support. Also, before bashing on people's posts and "bEcAuSe MoOnS", you should do some reading. Check PAX and PAXG, 3rd party audited coins. https://www.paxos.com/is-paxos-audited/

SpaceDogeLaika

Thanks for the info! I’ve never heard of PAX but I’ve heard of the others. I’ll look into it. Thanks!

Leptis1

USDC is soon to be 100% backed by real USD. DAI is a great stablecoin, and PAX is already backed by USD. USDT is very convenient because there are many trading pairs using it, but I'd stay as far from it as possible.

Leptis1

100% agree, big fan of DAI! And I quite like PAX too, even though it's still a centralised stablecoin.

Leptis1

They recently announced that they will be fully backed again. But I agree with you. In this case, USDC is just the "less bad" option. Although there are great stablecoins out there! (PAX, DAI are examples)

ccHorrell

So… first off I wouldn’t do it. But if you are then I would only do it as a stable coin, USDC, BUSD, PAX, DAI and then stake it on something like a Celsius or Nexo.

Crackorjackzors

PAX can freeze funds?

MONGSTRADAMUS

It will join BUSD/PAX , I would love confirmation from gemini is GUSD 100% cash backed.

Raaaaafi

Basically these two comments. No one knows if USD C, DAI, PAX etc are already big enough in order to prevent a big crash. Same as nobody knows when that time bomb will explode. Have some fiat in the side if/when that happens. People are going to lose their minds and sell, that's when you should buy.

Crackorjackzors

Tether FUD is as old as Tether existing. That said, I'd rather use USDC or PAX.

Athanor25

Algorithmically pegged alternatives like RAI or sUSD are probably worth investigating. The other road is to look for a compliant coin, I think PAX is the most transparent so far

Gale_Force_

Well...okay...here it goes. I think that stablecoins are on track to ruin the whole crypto movement. When coins are tied to one economy's value, it is more like another US dollar tender and THESE are the coins that are getting attention for potential regulation. I think (just...me...) that coins like PAX and Gemini are going to be regulated soon and then....it's a cascade of governmental regulations....so... hit me with those down votes (lol, I'm only a minnow do be kind)!

Chimp_Meat_Taco

RSV is backed by TUSD, USDC, and PAX

Roskoh

You forgot PAX!

TRIGGERED_AND_FRISKY

I honestly do believe that PAX is under-used because of the name. Let's see if this helps lol

coinfeeds-bot

tldr; Paxos is rebranding its stablecoin from Paxos Standard (PAX) to Pax Dollar (USDP). "The USDP ticker more easily identifies Pax Dollar as a US dollar-backed token," said Paxos head of strategy Walter Hessert. The updated USDP smart contract will go live on August 31, 2021. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Zantti

I liked PAX. Sounded like the stablecoin ancient romans used back in the day.

tamaleA19

Agreed. PAX sounds like just another crypto

jun_039

PAX Gold (PAXG) is a digital asset. Each token is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults. If you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company. (google copy paste info)

JustDownInTheMines

List of Stablecoins by Market Cap - 1. USDT 2. USDC 3. BUSD 4. DAI 5. UST 6. TUSD 7. PAX 8. HUSD 9. USDN 10. FEI 11. GUSD

Oldschool_Ball_Mouse

Wow just what I was hoping for! I just want to settle on a single stable coin and was torn between PAX and USDC so far, but this new just might seal the deal for me.

Crackorjackzors

Tether FUD is as old as Tether. I used PAX now because it gets audited.

quicknn19

The only stable coin backed by 99% cash & cash derivates it's Paxos ( PAX). Everything else it's backed by debt.

Oldschool_Ball_Mouse

PAX Gold (PAXG) is 100% backed by gold I believe. I've been wanting to look into it further as I like the idea.

iCarlysTeats

PAX Gold, for one. I feel like there are a few others. I'll check and edit