What backs on-chain gold tokens with physical gold?
PAXG holders can redeem their tokens for physical gold bars or US dollars according to the issuer’s rules. Redemption minimums and fees are subject to the issuer’s announcements. One troy ounce is approximately 31.1 grams, and international gold prices are generally quoted per troy ounce.
Gold token prices track the price of gold because they can be redeemed according to the rules: when the price deviates too far from the gold price, arbitrageurs bring it back in line.
$PAXG represents one troy ounce of physical gold stored in a London vault. Current price: 3890.64.
PAXG holders can redeem their tokens for physical gold bars or US dollars according to the issuer’s rules. Redemption minimums and fees are subject to the issuer’s announcements. One troy ounce is approximately 31.1 grams, and international gold prices are generally quoted per troy ounce.
Gold token prices track the price of gold because they can be redeemed according to the rules: when the price deviates too far from the gold price, arbitrageurs bring it back in line.
$PAXG represents one troy ounce of physical gold stored in a London vault. Current price: 3890.64.