Hello Stemians!!
In this article, I'll answer the homework for this week made by professor @yohan2on, as for the questions from the homework given is still explaining one of the stablecoins called Paxos Standard (PAX)

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PAXOS STANDARD (PAX)

Paxos Standard, or PAX, is a stable coin that has been certified in US dollars, and this token was launched by the Paxos Trust Company in 2018. PAX is a token that is incorporated into the ERC20 token which is created on the Ethereum blockchain. Since PAX is a stable coin, one PAX token will always equal one US dollar. This means that PAX can be the perfect coin to store the profits of your crypto without having to convert it to fiat first.

As we know that Cryptocurrency is still very difficult to accept by the general public, this makes Paxos designed to deal with this problem while bridging gaps and basic principles that characterize digital money that is able to build trust with the wider community about Cryptocurrency. This has never been handled by any other cryptocurrency. Paxos Standard aims to improve the function of money in blockchain technology by building an infrastructure that guarantees confidence in investing in cryptocurrency.

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The Paxos Trust Company is a trusted financial institution that is regulated by the New York State Department of Financial Services. Paxos issues tokens backed by US dollar deposits that trust and stabilize digital assets.

These tokens can be traded on any exchange that lists them on their market and PAX can be transferred between users easily. We all know that the value of volatility and fluidity in cryptocurrencies is very high, so Paxos Standard is here to protect its users from losing their funds for nothing just because of the high volatility of digital assets.

HOW IS PAX NOW?

Currently, PAX Token is ranked 98 out of thousands of coins in the Cryptocurrency world, this makes it one of the coins that are included in the Top 100 best coins.

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Even though PAX is a StableCoin, it does not mean that it is always right at the $1 price, it could be an increase in price or a decrease in price. As at the time this article was written, the price of the PAX token is experiencing a decline of -0.4% which stands at $0.999199.

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But this is not something to be afraid of, if we look at the full PAX chart, we can indeed see changes in the value of the PAX token. However, this is only temporary, the rest of the PAX is always consistent at the price of $1.

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The highest price the PAX token has ever reached was $1.13 which occurred about 2 years ago. While the lowest price was $0.908175 which occurred 8 months ago.

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If we look at the overall value of the PAX Token, then we can see that the value of these tokens tends to be stable even though it has experienced instability for some time.

BENEFITS OF HAVING PAXOS STANDARD (PAX)

PAX is one of the tokens incorporated in the ERC-20 which is built on the Ethereum blockchain, this makes PAX possible to carry out transactions on all Ethereum platforms. As we know, all transactions recorded on the Ethereum Blockchain are always transparent, so that users can see them directly without anything to hide.

PAX tokens are backed by fiat US dollars, which are already held in major banks regulated by the New York Department of Financial Services. And also Paxos Standard's regulatory status is legally registered as a New York Trust Company and therefore directly controlled by the New York State Department of Financial Services.

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PAX is already available on various digital asset exchanges so that this token can be traded freely by its users at any time. PAX is very easy and efficient in facilitating fiat payments and other digital currencies, and the time it takes to make all transactions on PAX is very fast and operates around the clock.

CONCLUSION

After seeing all the things about Paxos Standard Token, I can conclude that this token is a good token to use as StableCoin. But it's good before we buy these tokens we must understand the risks we have and we must be prepared for these risks.

Thanks for coming to my blog.
See you in the next post!

CC: @yohan2on
CC: @steemcurator01
CC: @steemcurator02