Pax Dollar
Stablecoin-Profil
Pax Dollar (USDP) ist ein fiat-gedeckter Stablecoin, gebunden an USD, mit 40,6 Mio. $ im zirkulierenden Angebot über 4 Blockchain-Netzwerke. Jeder USDP ist durch Reserven des Emittenten gedeckt, mit Parität attestiert über defillama. Die Bindung wurde in den meisten Handelsphasen innerhalb von ±1% gehalten, wobei Reservezusammensetzung und Attestierungsfrequenz die wesentlichen Inputs für sein Kreditrisikoprofil sind.
Über Pax Dollar (USDP)
USDP is a regulated stablecoin by Paxos that is redeemable one-to-one for US Dollars.
Paxos customers who have undergone a verification process can exchange USD for USDP and redeem USDP for USD.
Emittent & Attestierung
Pax Dollar (USDP) is issued by Paxos Trust Company, operating under New York State (NYDFS-regulated). Originally launched in 2018.
Reserve-Zusammensetzung
Backed 1:1 by cash and cash equivalents (primarily short-dated US Treasuries) held in segregated accounts.
Reserve-Attestierungsberichte
Informationen zum Emittenten stammen aus öffentlichen Offenlegungen, regulatorischen NYDFS- / BMA-Einreichungen und primären Attestierungsberichten. Vor Entscheidungen stets direkt beim Emittenten verifizieren.
Jüngste Angebotsaktivität
Pax Dollar (USDP) supply was unchanged in the last 24 hours, was unchanged over the past week, and contracted by 7 Mio. $ (-14.72%) over the past 30 days.
Supply contraction: net redemptions have driven circulating supply down 14.72% in the past month, signaling capital rotation or deleveraging.
Supply-Verlauf
Network distribution
Pax Dollar circulates across 4 blockchain networks. Ethereum hosts the largest share at 89.43%, followed by Solana at 7.05%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Kette | Angebot | Anteil | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | 36,3 Mio. $ | 89.43% | 0.00% | -15.77% |
| Solana | 2,9 Mio. $ | 7.05% | 0.00% | -6.82% |
| BSC | 1,4 Mio. $ | 3.52% | 0.00% | 0.00% |
| Linea | 2 $ | 0.00% | 0.00% | 0.00% |
Verlauf der Peg-Stabilität
Pax Dollar (USDP) is designed to trade at exactly 1.00 USD, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $0.9997, a -0.031% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
Wie reserve-backed-Stablecoins ihren Peg verteidigen
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Praktische Auswirkungen für Inhaber
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Vertragsadressen
Pax Dollar (USDP) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Kette | Vertragsadresse | Verifizieren |
|---|---|---|
| Ethereum | 0x8e870d67f660d95d5be530380d0ec0bd388289e1 | Explorer |
Vertragsadressen stammen aus dem Stablecoin-Profil von DeFiLlama. Einige Ketten (Tron, Solana, Aptos, Sui) verwenden Nicht-EVM-Adressformate. Der „Explorer"-Link öffnet den offiziellen Blockexplorer für die jeweilige Kette; wir verlinken nicht auf Drittanbieter-Explorer, die geänderte Daten anzeigen könnten.
Pax Dollar mit anderen fiat-backed-Stablecoins vergleichen
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside Pax Dollar (USDP). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Angebot | Mechanismus | Ketten |
|---|---|---|---|
| Tether (USDT) | 184,1 Mrd. $ | fiat-backed | 107 |
| USD Coin (USDC) | 79,6 Mrd. $ | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | 4,5 Mrd. $ | fiat-backed | 8 |
| PayPal USD (PYUSD) | 4,1 Mrd. $ | fiat-backed | 7 |
| BlackRock USD (BUIDL) | 2,5 Mrd. $ | fiat-backed | 8 |
Über Mechanismusklassen hinweg
If you're researching USDP as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Peg-Stabilität
Chain-Verteilung
Ressourcen & Datenquellen
Pax Dollar (USDP) is tracked across major crypto data providers. The links below open Pax Dollar (USDP)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Aktuelle Pax Dollar-Nachrichten
Latest reporting from major crypto news outlets covering Pax Dollar.
- Cryptopolitan
Stripe unveils a new stablecoin subscriptions feature that allows merchants to set up recurrent billing to customer wallets
Payment platform Stripe has unveiled a new stablecoin subscriptions feature that allows merchants to set up recurrent billing to customer wallets.
- CryptoSlate
Binance to delist 9 stablecoins including USDT for Europe in MiCA win for Circle's USDC
Binance will delist trading pairs for nine stablecoins in the European Economic Area (EEA) by March 31, according to a March 3 statement. According to the exchange, this decision…
- Cointelegraph
Pricing aggregators caused Pax Dollar to depeg
Despite potential price fluctuations on different trading venues, USDP will always remain redeemable for $1 on Paxos, a spokesperson told Cointelegraph.
- Crypto news
USDP briefly spikes to $1.28, costing an Aave trader $529k
The value of the stablecoin Pax Dollar (USDP), issued by the Paxos Trust Company, experienced a surge to a high of $1.28, triggering the liquidation of $529,000 in USDC for a…
- The Currency Analytics
Binance Futures Revolutionizes Margin Trading: Introducing FDUSD, Bid Farewell to USDPBinance Futures Revolutionizes Margin Trading: Introducing FDUSD, Bid Farewell to USDP
In a groundbreaking move, Binance, the world's premier cryptocurrency exchange, is set to redefine its futures trading platform by introducing FDUSD as a margin asset and bidding…
- Coingape
Binance Drops Pax Dollar (USDP) Support, But There's A Catch
Binance, one of the foremost cryptocurrency exchanges globally, has officially announced a significant transition in its margin assets on the Binance Futures platform. In a move…
- Blockchain News
Binance Futures to Introduce FDUSD Margin, Phase Out USDP
Binance Futures is set to support FDUSD as a margin asset, replacing USDP in Multi-Assets Mode, enhancing the platform's flexibility for users.
- Coincu
Paxos USDP Stablecoin Is Now Supported On Solana
The company aims to compete with major stablecoin issuers, utilizing Solana's efficiency for lower fees with Paxos USDP stablecoin.
Verwandte Stablecoins
Stablecoins comparable to Pax Dollar by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Andere fiat-backed Stablecoins
An USD gebundene Stablecoins
Größte Stablecoins nach Angebot
Risikohinweis
Stablecoins tragen Risiken, einschließlich De-Pegging, regulatorischer Änderungen und Gegenparteirisiken. Diversifiziere immer und führe eigene Recherchen durch.