WuShuo has learned that Paxos Labs has launched PAXGy, a yield-generating gold token based on PAX Gold (PAXG). The goal is to allow holders to gain value in gold terms rather than earning returns in USD. Users can deposit PAXG or exchange supported stablecoins for PAXGy. The underlying reserves are lent out to vetted institutional borrowers through the traditional gold leasing market, and the generated yield is reflected in the exchange rate between PAXGy and PAXG. This means the number of tokens remains unchanged, but each PAXGy can be exchanged for more PAXG over time. PAXGy is built on ERC-20 and can be accessed and used via OKX, X Layer, Uniswap, 0x, and EtherFi. Its underlying PAXG is issued by Paxos and backed 1:1 by physical gold. https://(wublock123.com)/news/paxos-labs-launches-revenue-generating-gold-token-paxgy-with-underlying-paxg-generating-revenue-through-gold-leasing-68976