Market
Problem that it solves
Paxos is an ERC-20 stablecoin pegged to the US dollar that provides price stability for digital currency traders and users.
Customers
Paxos is great for traders and for those who want to quickly convert digital assets into fiat currency without paying exorbitant fees.
Value creation
PAX takes the price volatility out of decentralized digital currencies.
Market structure
The market for primarily composed of digital asset traders but could evolve to include merchants looking for digital payment options.
Market size
The market for a stable dollar-pegged digital currency is substantial.
Regulatory risks
Since PAX is a stablecoin and pegged to the US dollar, it's a low risk for regulation.
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Competitive Advantage
Technology/blockchain platform
Paxos is an ERC-20, which means its developed on the Ethereum blockchain.
Lead time advantage
PAX does not have much of an advantage in its market as it competes with other stablecoins like Tether and USD Coin.
Contacts and networks
While Paxos isn't as well known as some digital coins, it still have the ability to access important players in the digital asset market.
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Management Team
Entrepreneurial Team
Andrew Chang and Charles Cascarilla are part of the Paxos team and have shown a penchant for success in the past.
Industry/technical experience
Paxos CEO Charles Cascarilla has been in Finance for nearly two decades. He alone helps the project team meet the 10,000 hour requirement.
Integrity
Up to this point, Paxos has shown transparency, honesty, and integrity.
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Token Mechanics
Token required
For Paxos to deliver its service as a stablecoin provider, the PAX token is necessary.
Value added
There are several most successful stablecoins in the market, which makes it difficult for Paxos to set itself apart.
Decentralized
Paxos can be frozen, censored, or confiscated by project authorities if they believe illegal activities are occurring.
Token supply
When PAX tokens are redeemed, they are immediately taken out of circulation. PAX only exists when corresponding dollars are available.
Public exchange
PAX is listed on many exchanges, including Binance, OKEx, and CoinEx.
MVP
Users can currently convert US dollars to PAX and PAX to US dollars anytime they want.
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User Adoption
Technical difficulty
PAX is a dollar-pegged stablecoin that runs on Ethereum. Arguably, one of the easiest blockchain ventures to explain.
Halo Effect
Paxos has partnered with Binance and Huobi to bring its token to traders.
Buzz
Paxos only has a few thousand users on social media and are not among the most talked-about stablecoins.
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Overall Score
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