What is Staked Gold?
Staked Gold allows you to hold PAXGy, a yield-bearing token backed by Paxos Gold (PAXG), while earning yield on your gold exposure.
PAXGy tracks the price of gold while its value accrues yield over time.
Unlike a token that increases your token balance as rewards accrue, PAXGy is designed so that your token balance remains constant while each PAXGy represents more PAXG over time.
How does PAXGy earn yield?
The reserves underlying PAXGy are deployed to vetted institutional borrowers through the gold lending market.
The yield generated through this activity accrues to the PAXGy/PAXG exchange rate.
This means that over time, each PAXGy can represent a greater amount of PAXG rather than your number of PAXGy tokens increasing.
What is the Staked Gold APY?
The Staked Gold page displays the current APY for PAXGy.
The APY can change over time and should be checked directly in the app for the latest rate.
Can I use Staked Gold as collateral?
Yes. PAXGy can be used as collateral with Cash.
Your Staked Gold page will show your PAXGy balance and its current value.
Frequently asked questions
Does my PAXGy balance increase as I earn yield?
No. PAXGy does not rebase.
Your number of PAXGy tokens remains the same. Instead, the amount of PAXG represented by each PAXGy is designed to increase as yield accrues.
Does PAXGy track the price of gold?
Yes. PAXGy is backed by PAXG and provides exposure to the price of gold while adding gold-denominated yield through its underlying strategy.
Is the PAXGy yield guaranteed?
No. Yield is not guaranteed.
PAXGy's reserves are deployed into external gold lending strategies, which involve risks including credit, counterparty, liquidity, and market risk. Losses or borrower defaults can affect the value of the asset.
Where can I learn more about PAXGy?
You can learn more about PAXGy and how it works at the official PAXGy website:
Still have questions?
If you have questions about your Staked Gold or PAXGy, reach out to Support by clicking the chat icon in the bottom-right corner.