COTI (COTI) is a token that powers COTI, a project that describes itself as a “DAG (directed acyclic graph) protocol optimized for creating decentralized payment networks and stable coins.” Coti uses Trustchain, a decentralized ledger that can process over 100,000 transactions per second, to power online and offline payments, loyalty payments, stablecoins, and more. Note: Coinbase currently only supports COTI running on the Ethereum blockchain (ERC-20).
COTI is a fintech platform that uses blockchain to run a range of products, including payment processing, financing, white label payment systems, loyalty programmes and cross-border remittance technology. Organisations can build their own payment solutions and digitise any currency to create so-called “stablecoins”, which are pegged to physical currency.
The COTI network is based on seven key elements of operating an effective payment infrastructure:
COTI was co-founded by Samuel Falkon, vice president of business development at COTI Group and chief revenue officer at online payment service provider Paywize, a COTI subsidiary that offers merchant credit card processing. Falkon is also the founder of Israel-based management consulting firm Gil Scott. COTI co-founder David Assaraf also co-founded Israel-based fintech start-up Frequants.
Developers at COTI are working in partnership with their peers at the Cardano blockchain and ADA cryptocurrency. Over the past few weeks it has announced several new partnerships and new merchants for the ADA Pay digital payment platform.
In December 2021, it announced a partnership with ADA Handle, an NFT-powered naming solution for the Cardano wallet address, in which the pair will “explore the possibility of allowing support for Handle address resolution directly within their ADA Pay platform”.
Later in December 2021, it was partnering with AdaSwap, an ecosystem aiming to establish the first decentralised exchange on the Cardano network.
Harvest Finance is a yield aggregator on Ethereum, Binance Smart Chain, and Polygon. The platform helps users to maximize the returns on their assets by depositing in various projects across the DeFi ecosystem.
The platform allows users to stake their assets in the Harvest Finance vaults, while the protocol executes various yield farming strategies on their behalf, and receives staking rewards in return.
FARM is Harvest Finance’s native utility token and is used in the following functions:
Staking: Users can earn FARM tokens as performance fee rewards when they stake their FARM tokens in the profit sharing pools.
Liquidity mining: Users can provide liquidity to LPs on other DEXs to earn liquidity mining rewards (i.e. SushiSwap) and a share of the DEX transaction fees. Users can further stake LP tokens in the Harvest Finance vaults to earn liquidity incentives paid in FARM.
Harvest Finance consists of the following major components working in conjunction:
Performance fee sharing: Users that stake FARM in the profit sharing pools are entitled to a performance fee taken from the yield farming strategies. The fees are used to buy back FARM tokens from the open market and rewarded to users that are staking FARM.
Auto-compounding: FARM tokens distributed to users are automatically collected and re-staked in the profit sharing pool to improve their returns. iFARM is issued as deposit receipt for auto-compounding, and it is an interest bearing FARM token.
fCASH: Enables users to take a loan without needing to sell iFARM. Users provide iFARM as collateral in return for fCASH, which can be swapped to stablecoins (i.e.USDC).
AmpliFARM: It is a token that is only rewarded in BSC pools, and it can be claimed immediately at 1:1 bFARM ratio or up to 4.18x depending on the staking period.
The project took a fair launch approach, there were no pre-mine or investors. Instead, newly minted tokens are released and distributed weekly.
As at August 11th 2021, the total supply of FARM is 639,925 and the current circulating supply is 606,355 (~94.75% of the total token supply).
Learn more about the token distribution of FARM here.
What products support FARM? Send/Receive Trading Coinbase ✔ ✔ Pro ✔ ✔ Wallet ✔ ✖️
What regions support FARM?
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Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.
Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.
Rarible is a software allowing digital artists and creators to issue and sell custom crypto assets that represent ownership in their digital work.
Of note, Rarible is both a marketplace for those assets, as well as a distributed network built on Ethereum that enables their trade without a middleman.
The tokens that creators generate on Rarible are known as non-fungible tokens (NFTs). Each NFT is unique, and unlike bitcoins (or other units of money), they are not interchangeable. This property is known as fungibility, which is why tokens on Rarible are called non-fungible.
The first and best known example of NFTs is CryptoKitties, a game where virtual cats could be bought and sold. These NFTs could even “breed” with one another to create new cats with different attributes represented in their NFTs.
However, Rarible is proof NFTs have since grown beyond virtual cats. Examples of NFTs found on Rarible’s marketplace include digital artworks, memes and even parcels of virtual land.
Central to the platform is RARI, Rarible’s cryptocurrency. By owning RARI tokens, users can vote on proposals that affect the platform, moderate creators and curate featured artwork.
Who Created Rarible?
Rarible is a company founded by Alex Salnikov and Alexei Falin and based in Moscow. Salnikov has worked in cryptocurrency since 2013, while Falin previously co-founded a marketplace for digital stickers that can be used on chat platforms, according to his LinkedIn profile.
In 2020, Rarible raised its first round of funding from the New York-based venture capital firm CoinFund, which has been one of the firms that is most confident about the growth of NFTs.
It argues that NFTs represent a new way to own digital content, and that digital content will be a massive market in the years to come.
How does Rarible Work?
Rarible is a marketplace aiming to link sellers (typically content creators such as digital artists, model creators or meme makers) with buyers who can select pieces they wish to purchase.
To turn their work into an NFT, creators must first “mint” a token using Rarible’s software. To do so, they fill out a form on the website and attach their image and other data, such as a listing price, that represents their work.
The Rarible platform then creates a new token on the Ethereum blockchain. Similar to other tokens on Ethereum, the NFT can be transferred between wallets using Rarible’s software.
Rarible leverages the Ethereum blockchain to embed within an NFT’s code the full history of its owners and transactions. Of note, when a transaction goes through, both the buyer and the seller have to pay transaction fees that go to the Rarible network.
Royalty payments
One interesting feature of NFTs is the ability to program royalties, or the rights to future cash flows, within these assets. This means that creators on Rarible can set a percentage of future sales and collect them automatically by issuing a token.
This is a major feature drawing creators to this technology, because unlike with traditional content platforms, NFTs can be designed to pay out royalties immediately.
For instance, if a piece of digital art listed a 10% royalty, the creator would receive 10% of any consequent sale of that art.
Which products support RARI?
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What regions support RARI?
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Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.
Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.
Ribbon Finance (RBN) is an Ethereum token that governs Ribbon Finance, a decentralized finance protocol designed to generate yield by combining options, futures, and fixed income to improve a portfolio’s risk-return profile. RBN is the protocol’s governance token and can be used to propose and vote on the future of the platform.
What is Ribbon Finance?Ribbon Finance is a new protocol that creates crypto structured products for DeFi.Does Ribbon have a token?
Yes, we have a token. You can find more information about the $RBN Airdrop in the blog post. Be aware that there are scammers that have created fake Ribbon tokens and are actively distributing them on DEXes. Do not buy them. Official RBN address: 0x6123B0049F904d730dB3C36a31167D9d4121fA6B.What are structured products?Structured products are packaged financial instruments that use a combination of derivatives to achieve some specific risk-return objective, such as betting on volatility, enhancing yields or principal protection.What kinds of structured products does Ribbon have?Ribbon currently offers a high yield product on ETH which generates yield through an automated option strategy. Ribbon will continue to expand the product offerings over time, including community-generated structured products.What is the Theta Vault?
Theta Vault is a new product that automates a covered call strategy to earn high yield on ETH. The vault runs a covered call strategy and sells out of the money call options on a weekly basis for yield. You can read more about the strategy here.What Options Protocol does the Theta Vault use?Theta Vault currently uses Opyn’s infrastructure to mint and trade the options tokens on-chain. We chose Opyn because the protocol lets us create tokenized ETH options with custom parameters out of the box. This allows us to be flexible on the choice of strikes, expiries, and exchange method. What is the expected yield for the Theta Vault?
The yield is variable, but we expect it to be in the 20-30% range. We performed a backtest on the strategy throughout 2020 and 2021, and you can see the results here.
The yield in production will likely be lower due to transaction costs and so on, but we can expect something in the double-digit APY range.What are the risks of the Theta Vault?
The primary risk for running this strategy is that depositors could potentially give up upside in exchange for guaranteed yield. By selling a call option, users are basically promising to sell the asset at the strike price, even if it goes above it (a.k.a selling early). Because of this, if the price of the asset moves up significantly in a short period of time, it is possible for depositors to have “negative yield” on their ETH.
However, this only happens if ETH/USD appreciates significantly, so depositors will still be up in USD terms. The vault also sells call options that are very out of the money, which means there is a relatively low chance of the options getting exercised.
The smart contracts are audited by Peckshield, ChainSafe and Quantstamp. Despite that, users are advised to exercise caution and only risk funds they can afford to lose. Why do I need to give Theta Vaults approval to spend my assets?
On the Ethereum blockchain, wallets have full control over their ERC20 tokens. In order to let an application spend a wallet’s tokens, the user has to explicitly give permission to the application to spend them. This is what’s called an ERC20 allowance. Theta Vaults prompt users to approve an unlimited amount so that users do not have to re-approve the application on a subsequent deposit.
Which products support RBN?
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What regions support RBN?
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Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.
Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.
What are the minimum and maximum withdrawal amounts?
Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through our platform.
These safeguards include both minimum and maximum amounts for each cryptocurrency we allow customers to send through the blockchain. These amounts vary by asset and are subject to change.
Spell Token (SPELL) is a token that governs Abracadabra.money, a platform that lets users deposit collateral in the form of interest-bearing crypto assets (such as yvYFI, yvUSDT, yvUSDC, xSUSHI) in order to mint MIM, a stablecoin that attempts to maintain a value of US$1.00. SPELL can be staked to earn sSPELL, which grants governance rights and other rewards.
What Is Abracadabra?
The launch of DeFi 2.0 has unfortunately seen a repeat of the inefficiencies that existed in its predecessor, with capital inefficiency key among them. Abracadabra Money is a lending protocol that aims to solve this problem by using interest-bearing tokens like yvWETH, yvUSDC and xSUSHI to serve as collateral to borrow Magic Internet Money, otherwise known as MIM.
MIM is a stablecoin that mirrors the stability of the U.S. dollar and does what virtually every other stable coin (e.g., DAI and Tether) does. With Abracadabra Money, cash doesn’t need to sit idly in the bank. There’s a new way to passively earn, using leverage, with close-to-zero risk involved.
What Is the Spell Token (SPELL)?
The Abracadabra protocol has two major tokens working in its ecosystem. The first is SPELL, the governance token of the platform, and the other is MIM (Magic Internet Money). Among other benefits, the primary function of the Spell Token is staking. Like most other tokens using the Ethereum platform, SPELL can be staked to gain various benefits. Two of them are:
Governance: Since the Abracadabra protocol is truly decentralized, the number of Spell Tokens you have will determine how much weight your opinion has in changing features such as liquidation fees, collateral and total value locked (TVL).
Passive Income: When Spell Tokens are staked, users earn a percentage of trading fees from the platform. These fees are interest that’s earned primarily from users borrowing MIM. 75% of the fee goes to token holders; 20% is allocated to the governance treasury, which aids liquidity pools; and the last 5% is kept in a multisig treasury that helps mitigate risks when market conditions worsen.
How Does Abracadabra Work?
Abracadabra Money uses a technique which is different from that of most protocols to provide lending services to traders. Called “isolated lending market,” the technique was first used with Kashi, a SushiSwap-owned lending platform. By using isolated lending, Abracadabra can successfully leverage the use of interest-bearing tokens and eventually allow users to produce Magic Internet Money. There are a few steps involved in this process:
Step 1 — Users need to deposit collateral (first USDT into yEarn, then collateralization of yvUSDT) on Abracadabra.
Step 2 — Abracadabra allocates a debt allocation, with interest, to the borrower.
Step 3 — After that, MIM tokens are deposited into the borrower’s wallet at the borrower’s chosen level of leverage.
Step 4 — Users take their MIM wherever they like. They can swap it to USDT, withdraw it or repeat the process of depositing in yEarn to get yvUSDT and more MIM.
The question now is, how can you get your collateral back? The answer is that after you repay your debt with the accrued interest, you’ll be able to withdraw your collateral.
The Magic Internet Money Token (MIM)
An integral part of the protocol, the MIM token is a dollar-pegged stablecoin that’s supported by ibTKNs. MIM tokens are Ethereum-based and minted by Ethereum multisig holders.
The good thing about stablecoins is that they’re not injected into circulation until they’ve been collateralized. There are persuasive (though unverified) claims that future improvements will include a bridge to other blockchains.
The amount of MIM you get as a loan depends primarily on two factors:
1. The collateral you’ve put down in USDT.
2. The loan-to-value ratio.
To help you understand how Abracadabra Money works, let’s run through a hypothetical scenario.
Lukas is an average crypto trader who got lucky with an ETH airdropAn airdrop is a marketing stunt, in which tokens or coins are sent out to blockchain wallets. Most commonly, it is done …, and now has $100,000 USDT to his name. Since he has some knowledge of yEarn, he decides to stake his newly found wealth to earn returns, and uses the USDT V2 yVault for this.
Now, Lukas has approximately $100,000 worth of yvUSDT, an amount that will grow, thanks to loan fees. Lukas then decides to start a business and wants to adopt a low- or no-risk approach with his money. How can he do this? Well, if you suggest that he convert yvUSDT to USDT, then USDT to cash to fund the business … you’re on the right track.
However, he can also choose to deposit his yvUSDT into Abracadabra. Let’s assume he mints 60% of his tokens: then, he’ll be given 60,000 MIM. He’ll pay interest of 0.8% on the loan, but his initial capital is still on yEarn, yielding returns.
SPELL Tokenomics
The figures below are accurate as of this writing.
SPELL Token
Name & Ticker: Spell Token (SPELL)
Token Standard: ERC20
Token Type: Governance
Maximum Supply: 420 billion SPELL
Circulating SupplyCirculating supply is the number of cryptocurrencies or tokens that are publicly available and circulating in the crypto…: 70 billion SPELL
Let’s take a look at some strengths and demerits of Abracadabra.
Pros
Few protocols allow you to borrow tokens and still earn interest on your collateral, and Abracadabra is one of them.
With isolated risk markets, you can calculate the risks you want to undertake in order to maximize returns.
Cons
The risk of liquidation is high because the collateral value can drop below the point where your loans are covered.
The Abracadabra protocol is decentralized; hence, it uses smart contracts, which can be vulnerable to bugs and data leaks.
Is Abracadabra (SPELL) a Good Investment?
We’ve yet to fully grasp the complexities of DeFi 1.0, but improvements being made to it give us a great preview of DeFi 2.0. One noteworthy feature DeFi 2.0 brings to the table is capital efficiency, and Abracadabra Money has been amazing in this regard.
What the market is saying about Abracadabra Money will help us gauge its relevance. In just two months, the TVL of Abracadabra Money has increased by 354%, from $1.07 billion to $4.86 billion. This stems from the effective work model of the platform and from investors’ generally warm reception to it. We strongly believe the real bull run has not yet begun for this crypto. As the project migrates into multichain, more room for growth will be created.
To dive deeper, MIM is actually a decentralized stable coin. So far, we’ve not seen many truly decentralized stablecoins — only names such as DAI (MakerDAO) and UST (Terra) are well-known in the market. With the recent collaboration between MIM and UST, however, decentralized stablecoins could well be the catalyst for the next trend.
Over time, centralized stablecoins (full-reserve stablecoins) such as USDT and USDC have revealed their legal shortcomings, paving the way for decentralized stablecoins such as MIM to grow and possibly outperform them eventually. MIM is one of the stablecoins that could help achieve this vision.
Which products support SPELL?
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Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.
Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.
What are the minimum and maximum withdrawal amounts?
Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through our platform.
These safeguards include both minimum and maximum amounts for each cryptocurrency we allow customers to send through the blockchain. These amounts vary by asset and are subject to change.
eCash is a digital currency that was developed after a hard fork of the Bitcoin Cash blockchain. At the time of the hard fork to the Bitcoin Cash blockchain. eCash was initially referred to as Bitcoin Cash ABC with the ticker symbol BCHA.Since Bitcoin Cash is a hard fork of Bitcoin, the Bitcoin Cash ABC token shares several similarities with the top digital asset Bitcoin; For example, the Bitcoin Cash ABC token had a total supply of 21 million tokens. Additionally, both digital assets have adopted the same consensus model for their operations.A dispute between members of the Bitcoin Cash ABC developers led to the creation of the eCash token.
Disagreement arose over the 1 MB token’s block size and payment method, with each side advocating different approaches. The split became official after both teams disagreed on the Bitcoin Cash ABC token’s payment method.An additional part of the problem that led to the split was the 8% miner’s tax dev team wanted to impose on every purchase that involved Bitcoin Cash ABC tokens. As a reward, a newly mined cryptocurrency coin is given to miners on the Bitcoin Cash ABC blockchain, however, because both teams disagreed with regards to the method of payment. A split in the network became inevitable.
E-Cash’s token was redenominated to 1:100000 before its launch and was officially launched in July 2021. The redenomination of the token will see the decimal places of the eCash coin reduce from eight to two. The ticker symbol for this new token is XEC, and it currently has a market cap worth over $3 billion.The tokens market cap and acceptance places it among the top 50 digital currencies in the world. The token’s total supply is capped at 21 trillion coins, while its current circulating supply is over $18.7 trillion.Despite being a hard fork of the Bitcoin Cash ABC token, the eCash has implemented several upgrades to improve the overall quality of the network. For example, this digital asset uses a 1 TB block size for transactions on its network. Additionally, the network plans to move to a Proof-of-Stake consensus layer called “Avalanche,” allowing holders of XEC coins to stake their tokens to earn rewards.
Furthermore, this upgrade will increase the speed with which transactions are linked to the network. Finally, the move to a Proof of Stake consensus will allow the eCash project to access the DeFi ecosystem and the Ethereum Virtual Machine (EVM). Compatibility with the EVM indicates the team at the project is working toward interoperability with Ethereum-based projects.
eCash Coin Price
When the eCash token was launched in July 2020, its opening price was set at $0.00002. Towards the end of August, the coin price hit $0.00008, marking some token value growth. By September 4, the coin’s price had reached an all-time high of $0.0004 per token. The coin is currently priced between $0.0002 and $0.0003, which is an excellent potential price for a young coin. As of Dec 14, 2021, the price is $0.000104.
Endorsements and Partnerships
Although relatively new to the digital space, the eCash project is available on many top crypto exchanges. These include popular crypto exchanges like Binance, Huobi Global, Mandala, Upbit, and Okex.The eCash token has been adopted as a payment option by Weownomy, a new social network company located in Delaware, USA. Weownomy aims to provide a social media platform that is built to reward users for joining the platform. Weownomy says the eCash token will be used to pay their users and creators of content on their platform. This move further exemplifies the primary use case of eCash, i.e., a fast and inexpensive payment option.
Comparison Of eCash With Other Tokens
Compared with other digital currencies, the eCash token holds its own and offers several excellent features that holders will enjoy. A comparison of eCash with Bitcoin Cash helps to highlight this point well.Following the hard fork of the Bitcoin blockchain in 2017, Bitcoin Cash was born. The Bitcoin Cash operates on a proof-of-work consensus just like Bitcoin. As a result, this digital currency does not support many decentralized features like the staking of tokens for rewards. Similarly, the Bitcoin Cash token is not yet integrated with the Ethereum Virtual Machine (EVM), meaning that the token is not compatible with Ethereum-based projects.Even though the eCash token still uses the proof of work consensus, the devs team is currently working to shift to a proof of stake consensus while also integrating with the Ethereum Virtual Machine. These upgrades will significantly upscale the transaction speed of the token and allow the eCash to merge with several Ethereum-based projects and can be used as a payment option for these projects.
DFI.Money (YFII) is a Decentralized Finance (DeFi) platform which aims to build products on aggregated liquidity provision, leveraged trading, automated marketing making, and more.
DFI.Money (YFII) is a fork of yearn.finance (YFI), after yEarn Improvement Proposal #8 (YIP-8) which proposed to prolong the minting of the platform utility token YFI by another 2 months and with a weekly-halving emission curve was rejected.
The YFII token is the native utility token of the DFI.Money platform. Users can earn it by contributing liquidity to DFI.Money’s aggregated liquidity pool, and use the token for platform governance.
DFI.Money currently provides a profit optimizing service for lending providers, moving providers’ funds between lending protocols such as Aave, and Compound autonomously for highest return. Future strategies are being developed in its vaults section.
What products support YFII?
Send/Receive
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Coinbase
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What regions support YFII?
US
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Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.
Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.
Paxos Standard Token (PAX) is an ERC-20 token issued on Ethereum blockchain. As a regulated stablecoin collateralized by the U.S. dollar, it brings benefits of the blockchain technology and stability of fiat currencies together.
It results in a steady cryptocurrency which offers:
Instant worldwide transactions
Immutability
Decentralized accounting
24/7 transactions
On top of that, every PAX token is fully backed by the equivalent amount of U.S. dollars, meaning it can also be redeemed for USD at any time. However, according to U.S. Law, Paxos Standard isn’t a security.
PAX Standard was established in the light of the infamous Tether controversy, where the leading market stablecoin has come under scrutiny for printing Tethers out of thin air during the early 2018 crypto market bull run. Paxos team has noticed the opportunity and made an extra effort to be as transparent as possible. Paxos issues and burns its tokens using an audited smart contract, inspected by smart contract auditor Nomic Labs. Withum, one of the top U.S. auditing companies, regularly verifies the reserves.
Who Is The Team Behind Paxos? Paxos team consists of seasoned professionals from diverse backgrounds, including former Wall Street and Silicon Valley employees. The company is led by its co-founder and CEO Charles Cascarilla.
Paxos Vision Paxos team sees a future in which blockchain isn’t a part of a major financial revolution, but an essential element of its evolution. In the big picture, the company wants to improve the economic ecosystem by developing a global frictionless network for simple, mobile and instant exchange of assets.
How Does Paxos Standard Token Work?
Paxos Standard is designed to have growing use cases. Today, it’s primary use case is to limit crypto asset volatility, remove friction from cross-border transactions, and become a reliable payment vehicle for crypto assets and other blockchain assets.
In the future, Paxos expects to be used for consumer payments and the stable store of value for people outside the U.S., especially in countries with unstable national currencies.
Here’s how tokenizing USD to PAX works:
1). A user sends USD to the token issuer’s bank account. 2). The issuer creates the equivalent amount of PAX using PAX smart contract. 3). The freshly minted PAX are delivered to the user while the USD is held in the bank account.
The same but reversed process is used to redeem PAX for USD. Every Paxos Standard token can be purchased and redeemed using Paxos.com. Upon PAX token redemption, the tokens are immediately burned and taken out of the circulation.
It’s worthy to note the company doesn’t charge any fees for both converting and redeeming PAX tokens. The minimal conversion amount starts at $100.
Paxos uses third-party auditors for proving they hold the corresponding amount of dollars. The monthly attestation reports can be found here.
Is Paxos Standard Token Different From Other Stablecoins?
The Paxos website emphasizes the following features of PAX:
Regulation. Paxos is regulated by the New York State Department of Financial Services.
Guaranteed cash deposits. Every collateralizing deposit is held at FDIC-insured U.S. banks.
Audited. Every Paxos Standard bank account is overseen by U.S. auditing firm Withum.
Security. Paxos employs additional transaction monitoring and surveillance partners for an extra layer of compliance.
Daily purchase and redemption windows. PAX tokenization and redemption requests are processed in regular windows that facilitate free and frequent fund movement. Every operation is usually done within one business day
No fees. Paxos Standard tokens are issued and redeemed without any extra charges.
These features make PAX like the other recently emerged stablecoins – USD Coin (USDC), TrueUSD (TUSD) and Gemini Dollar (GUSD). All of them are fully redeemable regulated ERC-20 tokens backed 1:1 which are backed by U.S. Dollars, uses Ethereum smart contracts to issue and burn tokens, and are overseen by the U.S. auditors and regulators. Besides, none of these platforms charge transaction/conversion fees (despite few exceptions).
The most significant difference between PAX and its rivals are different partner organizations and more efficient operations due to its “processing windows.”
All the fresh stablecoin projects are designed to decrown the longstanding market leader Tether (USDT). It employs a similar model but has refused to conduct regular audits and provide credible attestations. Yet, most USDT coins are issued on Omni protocol.
The only fundamentally different stablecoin within top 100 coins is DAI. This Maker’s project isn’t fiat-collateralized but still strives to retain value relative to USD.
Here’s a brief overview of four different types of stablecoin projects:
Fiat-collateralized. These include all stablecoins pegged to reserved fiat value. All fiat-collateralized coins are centralized by design. Examples: Tether (USDT); TrueUSD (TUSD); Gemini Dollar (GUSD); Paxos Standard Token (PAX); Digix Gold (DGX); USD Coin (USDC).
Crypto-collateralized. These are the stablecoins whose value is pegged to reserved crypto assets. Examples: Makercoin (MKR & DAI); Havven (nUSD & HAV).
Algorithmic non-collateralized. Software-based economic models that seek to provide price stability without any collateralized assets. Example projects: Basis; Kowala; Fragments.
Hybrid. The stablecoins which rely on a blend of the approaches listed above. Example projects: Carbon.
BitBay, another crypto stablecoin project, recently has shared an interesting crypto comparison matrix, which sheds some light on how the most popular stablecoin projects stack up. Although, the axes of “enforceability” and “decentralization” are vague.
Where to Get Paxos Standard Token?
Paxos keeps on landing new partnerships with popular exchanges. Some of them are:
Binance (paired with BTC, USDT, ETH, XRP, EOS, XLM, BNB). Bittrex (paired with BTC, USDT). DigiFinex (paired with USDT). OKEx (paired with BTC, USDT). ZB.COM (paired with BTC, USDT, ETH, ETC, LTC). CoinBene (paired with USDT). CPDAX (paired with BTC). Hotbit (paired with BTC, USDT, ETH). BCEX (paired with USDT). Coinsuper (paired with USD, BTC). Gate.io (paired with USDT). UEX (paired with BTC, USDT). Bitrue (paired with BTC, ETH, USDT, XRP). Kucoin (paired with BTC, ETH). Bit-Z (paired with BTC, ETH, USDT). Upbit (paired with BTC). ABCC (paired with BTC, USDT). OKCoin International (paired with USD). FCoin (paired with USDT).
Paxos Standard Tokens can also be exchanged using Paxos.com website.
Where to Store Paxos Standard Token?
PAX is an ERC-20 token issued on the Ethereum blockchain. Therefore, it can be stored in any Ethereum wallet. The most common ETH wallet options include MyEtherWallet, MetaMask, Mint or Jaxx. If this is your first time getting involved with Ethereum, you can find guidance in one of our quick Ethereum guides.
