What is PAX Gold?
PAX Gold (PAXG) is an ERC-20 token that represents physical gold. Each token is backed by one fine troy ounce of gold stored in secured, accredited vaults. Its value is directly tied to the market price of gold and offers investors a digital way to access traditional gold ownership without the need for physical storage.
PAX Gold goals
The purpose of PAX Gold is to lower the barrier to gold investment by transforming physical gold into a liquid, tradeable asset on the blockchain. It solves common issues associated with traditional gold ownership such as high storage costs and difficulties in fractional investing. This technology enables investors to trade, redeem, or use gold in decentralized finance applications, merging the advantages of both digital and physical assets.
PAX Gold fondamentals
PAX Gold is designed so that each token corresponds to one troy ounce of allocated, investment-grade gold. The backing of these tokens is reflected in the token’s market cap of $786809379, and the total supply of tokens is 236917 PAXG. The token distribution plan ensures that the number of tokens always matches the quantity of physical gold held.
Marketcap
$0.78680938B
Total number of PAX Gold
236917 PAXG
PAX Gold technology
PAX Gold operates on the Ethereum blockchain as an ERC-20 token, leveraging the security and programmability of smart contracts. The technology enables transparent, verifiable ownership of physical gold through blockchain record keeping, ensuring that every token is backed by an actual gold bar stored in accredited vaults. This infrastructure supports seamless transactions and interoperability within the broader DeFi ecosystem.
PAX Gold competitors
PAX Gold differentiates itself from competitors by offering a direct link to physical gold, along with regulatory oversight and monthly audits, which add a layer of transparency and trust. Its competitive advantages include near-instant settlement on the Ethereum blockchain and the ability to convert tokens into physical gold, which is not typically available with traditional gold ETFs or other gold-backed tokens. The combination of digital liquidity and physical asset backing enables it to serve both modern cryptocurrency users and conventional gold investors.
PAX Gold price history
Frequently asked questions
Each PAXG token represents one fine troy ounce of physical gold held in secure, accredited vaults.
The gold backing is verified through monthly audits conducted by a third-party auditor and attested by Paxos Trust Company.
Yes, holders can redeem their PAXG tokens for either physical gold or fiat currency, providing flexibility in how they access the underlying asset.
PAX Gold is built on the Ethereum blockchain as an ERC-20 token.
PAX Gold offers advantages such as lower transaction fees, instantaneous settlement, and fractional ownership, which reduce the challenges of physical gold storage and high cost barriers commonly associated with traditional gold investments.
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