• Paxos Trust Company, LLC (a state-chartered trust company and qualified custodian regulated by the NYDFS).

• PAXG is an ERC-20 token; issuance is driven entirely by user minting (depositing USD/Gold) and redemption demand, with no hard cap.
• PAX Gold (PAXG) is a digitized version of physical gold, aiming to solve traditional gold's pain points regarding divisibility, transport, and trading. Each PAXG token represents ownership of one troy ounce of a London Good Delivery gold bar securely stored in professional London vaults.

• Total Supply: No hard cap, dynamically adjusted. strictly backed 1:1 by physical gold.
• Price: Pegged to the real-time physical gold market price.
• Subscription Conditions: Minimum purchase of 0.01 PAXG on the Paxos platform (plus creation fees).

(Current Status: Retail users can trade freely on major secondary markets; direct primary fiat/PAXG creation and redemption via Paxos requires KYC approval. Source: https://paxos.com/paxgold/)

• No ICO. PAXG is directly issued as an Asset-backed token via custody.(Current Status: Widely listed on global mainstream CEXs and DEXs like Binance, Coinbase, OKX, Bybit. Source: https://coinmarketcap.com/currencies/pax-gold/#Markets)

• The whitepaper mentions integrating PAXG into crypto lending platforms, allowing holders to earn yields on their gold assets.(Current Status: Paxos is a core infrastructure provider for stablecoins, also issuing PayPal USD (PYUSD) and Pax Dollar (USDP), making it a leading institution in real-world asset (RWA) tokenization. Source: https://paxos.com/)

• PAXG holders have legal ownership of the corresponding physical gold. Holders can redeem PAXG for unallocated gold or fiat (USD). Holders of 430 oz (a standard bar) can redeem physical gold bars directly from Paxos; smaller holders can redeem physical gold via retail partners.

• PAXG is a standard ERC-20 token based on the Ethereum blockchain. Its smart contract has been audited and formally verified by top blockchain security firms like ChainSecurity and CertiK. The contract includes a BetaDelegatedTransfer feature allowing third parties to pay Gas fees on behalf of users.

• Regulatory & Centralized Freezing Risks: To comply with regulations, the smart contract includes an AssetProtectionRole. Paxos has the technical authority to freeze or even seize PAXG assets at specific addresses upon lawful requests from authorities.
• Physical Custody Risks: Although stored in world-class, insured vaults, physical assets objectively carry extremely low-probability risks of loss or theft.
• Price Volatility Risk: PAXG's value is fully pegged to international gold prices, fluctuating with market supply and demand. It does not provide capital protection or fixed yields.

• Relies entirely on Ethereum's underlying consensus mechanism.(Current Status: Ethereum has transitioned to a Proof-of-Stake (PoS) consensus mechanism. Source: https://ethereum.org/en/roadmap/merge/)