Paxos releases USDP November transparency report: total outstanding tokens rise to approximately $446 million

According to a report released by Paxos in November, the Pax Dollar (USDP) transparency report revealed unaudited financial data as of 06:00 on November 1st Beijing time, including:

1. The total outstanding amount of unpaid tokens is approximately $446,640,157, an increase of nearly $8 million from October;

2. The current market value of US Treasury bonds held is approximately $148 million;

3. The total current market value of US Treasury bond repurchase agreements (overnight maturity and excess collateral) is approximately $112 million, with a nominal collateral position value of approximately $110 million;

4. Cash deposits exceeding $185 million are made through the FDIC deposit network, with other cash deposits held by preservation institutions totaling approximately $4.25 million.

Paxos states that the US Treasury bond repurchase agreement is a contractual arrangement between two parties, in which one party agrees to sell securities to the other party at a specified price and promises to buy back the securities at another (usually higher) specified price later. If the counterparty defaults, Paxos can liquidate the US Treasury bond collateral to make up for the losses. Since all transactions are over-collateralized, the risk of loss is not considered significant.