PAXGy sounds like another gold token at first. It isn’t quite that simple.
Paxos Labs has launched PAXGy, a receipt token backed by PAX Gold (PAXG). The interesting part is what happens underneath: instead of your token balance increasing, each PAXGy is designed to represent an increasing amount of PAXG over time.
That means the return is measured in gold ounces, not dollars.
Honestly, I think that distinction matters more than the “gold-backed token” headline.
PAXG gives you a fixed amount ...