Paxos Labs announces the launch of a gold yield token based on PAXG PAXGy
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AT A GLANCE
Paxos Labs Introduces a PAXG token backed by it, with returns measured in gold ounces.PAXGy。
Article
Paxos Labs launches a gold-denominated yield token PAXGy, with holdings continuously increasing as measured in ounces
BlockBeats news,September 24，Paxos Labs announced the launch of PAXGy, a gold-backed token using PAX Gold（PAXG) as the underlying asset, whose value increases as measured in gold ounces.PAXG is fully backed by investment-grade gold in LBMA vaults and independently attested to by KPMG. Holders can deposit PAXG or accepted stablecoins to receive PAXGy, whose value accrues at an exchange rate denominated in gold.Paxos Labs co-founder Bhau Kotecha said: “Gold has been lent for thousands of years, and institutions have earned yield on their gold bar reserves for decades, but this market has never been open to ordinary gold holders.PAXGy brings these economic returns to anyone who can hold the token.”
Original link https://m.theblockbeats.info/flash/368874
Key points
01
Paxos Labs announces the launch of PAXGy。
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PAXGy using gold token PAX Gold（PAXG）as its underlying asset.
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PAXGy It appreciates in value measured in troy ounces of gold, with value accruing at a gold-denominated rate.
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PAXG Backed by LBMA investment-grade gold held in a vault and independently attested by KPMG.
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Holders deposit PAXG or accepted stablecoins to receive PAXGy。
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Paxos Labs Co-founder Bhau Kotecha said,PAXGy aiming to bring the economic benefits of lending gold to token holders.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
PAXGy is a PAXG or designated stablecoin-acquired, gold-backed token, with returns calculated in ounces of gold.
Why it matters to readers
The product seeks to enable ordinary gold token holders to earn returns measured in gold.
You need to distinguish PAXGy from the underlying asset PAXG; the evidence does not indicate actual returns, scale, or redemption arrangements.
Risks and unknowns
The evidence does not provide PAXGy's official contract address, issuance scale, or actual adoption data.
The evidence does not indicate PAXGy returns' specific source, rate, or sustainability.
The evidence does not indicate PAXGy's specific redemption arrangements or related regulatory disclosures.
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PAXGy
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