What is Pax Dollars (USDP)

Pax Dollars (USDP/USDT – Trade it Here) are issued as ERC-20 token on the Ethereum blockchain and are collateralized 1:1 through the USD held in Paxos-owned US bank accounts. Pax Dollars are managed and issued by Paxos, a trust company organized under New York State banking law and regulated by the New York State Department of Financial Services. This article explores the core features and overall tokenomics of USDP (plus ways of how to buy and earn USDP on MEXC).

What is Pax Dollars (USDP) and how to buy it on MEXC
What is Pax Dollars (USDP)

Core Features of USDP

Pax Dollar is designed to leverage the new innovations of blockchain technology to improve the function of money, while being supported by traditional infrastructure that can ensure it is trustworthy.

  • USDP can be sent to or received by anyone with an Ethereum wallet. All transactions operate according to the rules of a smart contract on the Ethereum platform following the ERC-20 protocol. Because of this smart contract, transactions eliminate human error and the system operates only as programmed.
  • USDP is available to be listed on exchanges around the world. Since it is backed by the dollar, it can be used as a proxy for understanding the value of the dollar as compared to other digital assets.
  • The Paxos exchange, itBit, will allow users to cash out of their holdings directly and instantaneously to USDP rather than cash if they choose. itBit will also trade USDP OTC.
  • USDP is available 24/7 to facilitate settlement against any type of asset including crypto, security and asset tokens or for payments. Unlike fiat, which is only available to settle trades during bank business hours, USDP can move anywhere, anytime.
  • Built on the Ethereum blockchain, USDP is a programmable token that can participate in the larger global community of tokens, helping create a global platform for programmable money with stability

USDP Tokenomics

There is a currently circulating supply of 106,388,841 USDP tokens and a corresponding fully diluted market cap at $108,469,476.

How to buy USDP?

Looking for a way how to buy USDP? You can purchase USDP on MEXC following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “USDP” using the search bar to see the available trading pairs. Take USDP/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of USDP you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy USDP] to confirm your order. You will find the purchased USDP in your Spot Wallet.

Recent USDP Price & Performance

As a stablecoin, USDP has a relatively narrow price range. It reached the highest price (ATH) of 1.1091 USD on April 11th, 2022. The lowest price of USDP since the ATH date was 0.00000079989 USD on June 20th, 2022.

Interested in crypto like USDP?

MEXC lists moonshot and provides access to trading of major crypto coins like USDP, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

Start your crypto trading journey with MEXC Global Exchange


The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

Please note that the information and data above are cited from third-party sources & whitepapers and do not represent MEXC. Please refer to direct sources for more details. This is not financial advice and does not constitute an offer or solicitation to offer or recommend any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

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