PAXG Project Analysis | PAXG Listing on WazirX + Grand PAXG Giveaway | PAXG/INR Pair

What is PAXG?

Paxos Gold (PAXG) is a crypto asset backed by real gold reserves held by Paxos, a for-profit company based in New York.

Each PAXG token is redeemable for 1 troy fine ounce of gold custodied in vaults by Paxos and its partners, and its market value is meant to mirror the physical gold it represents.

Paxos developed PAXG as a token on the Ethereum blockchain, meaning it can be exchanged for other crypto assets and secured by owners using cryptographic keys.

To ensure it continually maintains its reserves, Paxos undergoes monthly audits to attest that its supply of PAXG tokens matches the amount of gold it holds. Users can also redeem PAXG for gold bullion bars at any point in time, should they choose too.

Of note, PAXG tokens are divisible up to 18 decimal points, and smaller amounts of gold can be redeemed through a network of physical gold retailers worldwide.

Interview with Carl Vogel, Prouct Lead at PAX Gold: https://www.youtube.com/watch?v=pOwsbsoN2Fs

Key Benefits of PAXG:

● Allocated — PAX Gold is backed by physical gold and is allocated down to the serial number of each individual bar. Because PAX Gold operates on the Ethereum blockchain, it is also instantly transferable globally. The allocated ownership moves with the token transfer, which makes trading of allocated gold easier and faster than ever.

● Redeemable — PAX Gold is redeemable in several forms, unlike any gold products available today. Customers can convert their PAX Gold into physical allocated gold, unallocated gold entitlements or fiat. Through Paxos.com, customers can redeem full-sized London Good Delivery gold bars. Through a network of gold retailers, they can convert smaller amounts to physical gold all over the world.

● Programmable — Due to the digital and programmable nature of the smart contract, PAX Gold is easy to convert, trade or use in many other ways. Programmable gold creates significant new functionality in the trading world.

● Regulated — PAX Gold is issued by Paxos Trust Company, a financial institution regulated by the NYDFS. The NYDFS also regulates Paxos’ individual products, ensuring greater customer protections and higher standards of operation. The NYDFS has specifically approved PAX Gold as an authorized and regulated Paxos product.

● Available to Anyone — Given that PAX Gold has a very low investment minimum (0.01 PAXG or ~$15), fractional bar ownership is now possible for retail customers unlike ever before. Any individual or institution can buy PAX Gold.

● Low Fees — PAX Gold has low fees and is a significantly more attractive vehicle for investment as compared to other gold products. There are no storage fees and low creation/destruction fees that are tiered based on volume. For transactions that occur on-chain (transferred via Ethereum), there is a low Paxos transaction fee (0.02%) as well as the usual Ethereum gas fees (typically a few cents).

● Bankruptcy Remote — Since PAX Gold is issued by a state-chartered trust company, customer assets are kept separately from the company’s assets. All gold bars represented by PAX Gold tokens are custodied by Paxos for PAX Gold holders and do not become a part of the company’s estate in the event of the company’s insolvency.

● Decentralized — By operating on an open blockchain, PAX Gold maintains the inherent nature of gold. No single entity or group controls access to the asset or has the ability to control the entire market.

● Easy to Trade — On Paxos’ itBit and other exchanges, PAXG will trade against fiat and digital assets.

Token Stats

Trading Price (past 24 hr): $1909.30 (INR 138,245)

Global Market Cap (past 24 hr): $114,916,905

Global Trading Volume (past 24 hr): $35,541,393

Circulating Supply: 60,161.00 PAXG

Total Supply: 84,150

Giveaway Schedule on WazirX

· Monday, 17th May: AMA with Carl Vogel, Paxos Global. Learn everything about PAXG and win total prizes of $150.

· Tuesday, 18th May: YouTube Live between Pareen Lathia, WazirX, and Carl Vogel, Paxos Global.

· Wednesday, 19th May: Quiz in our Telegram group with prizes of $300. Show off your PAXG knowledge in a fun quiz session and win.

· Thursday, 20th May: Trivia contest on WazirX Instagram page with prizes of $50. Learn interesting trivia about PAXG and win.

· Monday, 24th May — Wednesday, 26th May: 48-hour long Highest Trader Kaun Marathon with prizes of ₹7,20,000 ($9,000) worth PAXG for top 150 traders.

· Monday, 31st May — Wednesday, 2nd June: 48-hour long Highest Trader Kaun Marathon with prizes of ₹7,20,000 ($9,000) worth PAXG for top 150 traders.

AMA

Participate in a live AMA with Carl Vogel, Paxos Global, to learn everything about PAXG.

When: Monday, 17th May, 5 PM IST
Where: http://t.me/wazirx_discuss

How to participate:

Part 1: We will ask 10 questions (crowdsourced from our Twitter followers) about PAXG to Carl
Part 2: At the end, we will unmute the group for 10 minutes where you can ask your questions live to Carl. They’ll try to answer as many questions as they can.

Giveaway:

$100 for top 10 questions selected from Twitter
$50 for top 5 live questions from Telegram group

Quiz

We are hosting a fun quiz session about PAXG. Show off your PAXG knowledge and win prizes.

When: Wednesday, 19th May, 6 PM IST
Where: http://t.me/wazirx_discuss

Reading resources:

· https://research.binance.cc/en/projects/pax-gold

· https://www.paxos.com/paxgold/

How to participate?

· Join WazirX Telegram group: t.me/wazirx_discuss

· There will be a total of 10 questions

· Choose the correct answer

Giveaway:

1st prize: $50
2nd — 5th prize: $25 each
6th — 20th prize: $10 each

Trivia Contest

You think you know enough about PAXG? Find out in our PAXG trivia contest!

When: Thursday, 20th May, 12 PM IST
Where: instagram.com/wazirx

How to participate:

· Follow us on Instagram: instagram.com/wazirx

· We’ll share 5 questions on Instagram Story

· Choose the correct answer

Giveaway:

For every question, one lucky winner from all the correct answers will win 0.0054 PAXG.

Highest Trader Kaun Marathon: PAXG/INR

Get ready for Highest Trader Kaun Marathon with double the fun & double the prizes!

What’s new in the contest?

· We are running two Highest Trader Kaun Marathon contests.

· Each contest will be non-stop for 48 hours.

· Yes, you can participate in any or both contests any time between the contest duration.

· For each contest, total prize is of ₹7,20,000 (~ $9,000 USD) worth PAXG. You can win prizes based on your trading performance for the entire 48-hour long trading contest marathons!

Contest 1 timing: Monday, 24th May, 9 AM — Wednesday, 26th May, 9 AM IST
Contest 2 timing: Monday, 31st May, 9 AM — Wednesday, 2nd June, 9 AM IST