OCB — Quality Rating
USDP Quality Rating
Paxos · NYDFS-regulated dollar stablecoin issued by Paxos, backed by cash and short-duration U.S. Treasuries.
USDP (Paxos) scores 85/100 on OnChain Benchmark's Stablecoin Quality Rating — Verified band — across four dimensions: reserve quality 23/25, redemption depth 19/25, transparency 21/25, and holder concentration withheld (not measurable to ground truth) (methodology v1.4-stablecoin, as of Sep 8, 2026).
Stablecoin Quality Rating
OCB — 01
USDP across four dimensions
Each dimension is scored out of 25, and the four add directly to the /100 composite — an equal-weight, plain sum. Last scored Sep 8, 2026 on methodology v1.4-stablecoin.
| Dimension | Score |
|---|---|
| Reserve Quality | 23 / 25 |
| Redemption Depth | 19 / 25 |
| Transparency | 21 / 25 |
| Holder Concentration | Not measured |
| CompositeΣ (score) | 85 / 100 |
Holder Concentration is withheld for this instrument. Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published. The composite reflects the three measured dimensions, renormalized.
OCB — 02
OCB Instrument
Outstanding supply
OCB — 03
OCB Instrument
Rating history
OCB — 04
Evidence behind the rating
A sample of the verified facts behind USDP's score. The full diligence trail is in the terminal.
- Disclosure Qualitycontract address
Contract address verified on Ethereum: 0x8e870d67f660d95d5be530380d0ec0bd388289e1 (primary deployment)
Confirmed active onchain.
Verified Jul 25, 2026· instrument_deployments registry — chain_id 1 - Holder Concentrationdata gap
No holder concentration data available at time of scoring run.
This gap is re-checked on every scoring run and will close once verifiable data is available.
Verified Jul 25, 2026 - Redemption Liquiditydata gap
No redemption liquidity data available at time of scoring run.
This gap is re-checked on every scoring run and will close once verifiable data is available.
Verified Jul 25, 2026
OCB — 05
Key facts
- Issuer
- Paxos
- Asset class
- Stablecoin
- Chain
- ETHEthereum0x8E870D…8289E1Explorer ↗
- Methodology
- v1.4-stablecoin
- Last scored
- Sep 8, 2026
- Rubric
- Stablecoin Quality Rating
Cite this rating
Reference USDP's rating
Copy a ready-made citation. Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.
OnChain Benchmark (2026). USDP Quality Rating: 85/100 (Verified band), as of Sep 8, 2026. Methodology v1.4-stablecoin. https://onchainbenchmark.com/instruments/usdp
OnChain Benchmark (2026) 'USDP Quality Rating', OnChain Benchmark, Verified band, 85/100, methodology v1.4-stablecoin. Available at: https://onchainbenchmark.com/instruments/usdp (Accessed: Sep 8, 2026).
@misc{ocb_usdp_2026,
author = {{OnChain Benchmark}},
title = {{USDP Quality Rating}},
year = {2026},
note = {85/100, Verified band, methodology v1.4-stablecoin},
url = {https://onchainbenchmark.com/instruments/usdp}
}Or pull the data: USDP rating (CSV)
The interactive terminal shows every verified fact behind USDP's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.