Pax Dollar
Profil du Stablecoin
Pax Dollar (USDP) est un stablecoin adossé au fiat ancré à USD, avec 40,6 M $US en offre en circulation sur 4 réseaux blockchain. Chaque USDP est adossé aux réserves détenues par l'émetteur, avec parité attestée via defillama. L'ancrage s'est maintenu dans une fourchette de ±1% sur la plupart des sessions de négociation, la composition des réserves et la cadence d'attestation étant les principaux facteurs de son profil de risque de crédit.
À propos de 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.
Émetteur et attestation
Pax Dollar (USDP) is issued by Paxos Trust Company, operating under New York State (NYDFS-regulated). Originally launched in 2018.
Composition des réserves
Backed 1:1 by cash and cash equivalents (primarily short-dated US Treasuries) held in segregated accounts.
Rapports d'attestation des réserves
Les informations sur l'émetteur sont compilées à partir de divulgations publiques, de dépôts réglementaires NYDFS / BMA et de rapports d'attestation de source primaire. Vérifiez toujours directement auprès de l'émetteur avant toute décision.
Activité récente de l'offre
Pax Dollar (USDP) supply was unchanged in the last 24 hours, was unchanged over the past week, and contracted by 7 M $US (-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.
Historique de l'Offre
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.
| Chaîne | Offre | Part | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | 36,3 M $US | 89.43% | 0.00% | -15.77% |
| Solana | 2,9 M $US | 7.05% | 0.00% | -6.82% |
| BSC | 1,4 M $US | 3.52% | 0.00% | 0.00% |
| Linea | 2 $US | 0.00% | 0.00% | 0.00% |
Historique de stabilité de l'ancrage
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.
Comment les stablecoins reserve-backed défendent leur ancrage
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.
Implications pratiques pour les détenteurs
- 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.
Adresses de contrat
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.
| Chaîne | Adresse du contrat | Vérifier |
|---|---|---|
| Ethereum | 0x8e870d67f660d95d5be530380d0ec0bd388289e1 | Explorateur |
Les adresses de contrat proviennent du profil stablecoin de DeFiLlama. Certaines chaînes (Tron, Solana, Aptos, Sui) utilisent des formats d'adresse non EVM. Le lien « Explorateur » ouvre l'explorateur de blocs officiel de la chaîne concernée ; nous ne renvoyons pas vers des explorateurs tiers susceptibles d'afficher des données modifiées.
Comparer Pax Dollar à d'autres stablecoins fiat-backed
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 | Offre | Mécanisme | Chaînes |
|---|---|---|---|
| Tether (USDT) | 184,1 Md $US | fiat-backed | 107 |
| USD Coin (USDC) | 79,6 Md $US | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | 4,5 Md $US | fiat-backed | 8 |
| PayPal USD (PYUSD) | 4,1 Md $US | fiat-backed | 7 |
| BlackRock USD (BUIDL) | 2,5 Md $US | fiat-backed | 8 |
Entre les classes de mécanismes
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.
Stabilité du Peg
Distribution par Chaîne
Ressources et sources de données
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.
Actualités récentes sur Pax Dollar
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.
Stablecoins associées
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.
Autres stablecoins fiat-backed
Stablecoins indexés sur USD
Plus grands stablecoins par offre
Avertissement de Risque
Les stablecoins comportent des risques, notamment la dé-peggisation, les changements réglementaires et le risque de contrepartie. Diversifiez toujours et faites vos propres recherches.