PAX Gold
Token backed 1:1 by allocated physical gold held in audited vaults.
Deployment
0x45804880de22913dafe09f4980848ece6ecbaf78
PAXG across four dimensions
Signal readings
- Disclosure tier
- voluntary monthly
- Attestation age
- 30 d
- Attestations / 180d
- 6
- Outstanding supply
- $2.00B
- Liquidity / supply
- 0.000%
- Top-10 holder pct
- 28.9%
- Custody verification
- full independent surface
Custody & backing fields are descriptive — published, not scored
PAXG supply over time
PAXG · Paxos
Outstanding supply (USD)
PAXG outstanding supply is $2.00B as of Aug 25, 2026. +4.8% over the prior 30 days.
PAXG trust rating since coverage began
Score history not yet available.
The chart will appear once 3 more daily readings have been collected (11 of 14 so far).
What closes the gap — and who closes it
PAXG has no yield by design — each token represents 1 troy oz of physical gold. The Yield Accuracy dimension scores against the LBMA gold spot price, which is not yet part of the daily measurement set.
What would close it
Daily gold spot price reference becomes part of our measurement set — already collected, integration shipping next.
- ·No getPrice() or equivalent found on Read as Proxy tab (2026-06-01).
- ·Each PAXG = 1 troy oz physical gold.
- ·Valuation = totalSupply() * offchain gold spot price (LBMA).
- ·The yield dimension uses the pegWithoutRate fallback until the LBMA reference price is part of the daily measurement set.
The commodity_gold methodology uses the Treasury Yield rubric as a placeholder — expected, not a gap.
Score impact: yield score: pegWithoutRate = 5/25 until LBMA benchmark collector is wired. Same as XAUT.
Paxos publishes monthly attestation reports for PAXG reserves at paxos.com/paxgold. This report is not yet part of the daily measurement set.
What would close it
Paxos's existing monthly attestation reports become part of our daily measurement set.
paxos.com/paxgold
- ·Paxos publishes monthly attestation reports for PAXG gold reserves via paxos.com/paxgold.
- ·Etherscan token page links to paxos.com/paxgold.
- ·This is one of the better-documented reserve attestation programs among commodity-backed tokens. attestationFreshness score depends on report cadence (monthly = moderate freshness).
URL not directly verified during session — inferred from Etherscan token page link. Confirm report is current before setting attestationFreshness score.
Score impact: attestationFreshness: monthly cadence — score depends on days since last report. Better than XAUT (no attestation) but lower than daily/weekly instruments.
- ·proxyOwner() = .
- ·Plain EOA — no Contract tab on Etherscan.
- ·Active Paxos operations key: issues Freeze calls on PAXG and BUSD tokens, Schedule Next calls on Global Dollar (USDG).
- ·215 total transactions, funded 1yr 75 days ago.
- ·Single EOA controls AdminUpgradeabilityProxy (transparent proxy) upgrades on ~$2.09B token — no multisig, no timelock.
- ·Same risk profile as BUIDL and BENJI.
Score impact: governance sub-score: single_eoa + transparent_proxy. Same score band as BUIDL/BENJI (~7/25).
- ·Contract tab: AdminUpgradeabilityProxy, same implementation as PAXG token.
- ·Paxos internal proxy.
- ·Excluded.
Score impact: Removed from top-10 concentration calc.
- ·Contract tab: AdminUpgradeabilityProxy, same implementation as PAXG token.
- ·Paxos internal proxy.
- ·Excluded.
Score impact: Removed from top-10 concentration calc.
- ·Contract tab: AdminUpgradeabilityProxy, same implementation as PAXG token.
- ·Paxos internal proxy.
- ·Excluded.
Score impact: Removed from top-10 concentration calc.
Etherscan label "Exchange". Kraken custody account. Excluded.
Score impact: Removed from top-10 calc.
- ·Etherscan label "Exchange".
- ·Paxos exchange custody account.
- ·Excluded.
Score impact: Removed from top-10 calc.
Etherscan label "Exchange". Kraken custody account. Excluded.
Score impact: Removed from top-10 calc.
- ·Etherscan label "Exchange".
- ·Binance custody account.
- ·Excluded.
Score impact: Removed from top-10 calc.
- ·Etherscan label "Exchange".
- ·Paxos exchange custody account.
- ·Excluded.
Score impact: Removed from top-10 calc. All top-10 PAXG holders now excluded (ranks 1-10 all exchange or Paxos proxy). Post-exclusion concentration: 0% from visible top 10. Score: 25/25.
- ·Ranks 2 (Kraken 246, 3.09%), 3 (Paxos 5, 2.41%), 5 (Kraken 245, 1.40%), 7 (Binance 14, 1.21%), 9 (Paxos 4, 1.08%) all carry Etherscan Exchange label — clearly excludable.
- ·Addresses not recorded during 2026-06-01 session.
- ·Binance: Hot Wallet 20 (rank 1, 20.37%) address known from prior XAUT work and excluded in migration 0037.
- ·Add remaining 5 addresses in follow-up migration.
Score impact: These 5 exchange holders total ~9.19% of supply. Once excluded, post-exclusion top-10 will be very low (only the 4 confirmed proxy addresses, now removed, plus whatever unlabeled holders fall in). With 89,556 total holders, concentration score likely 25/25 once all exchanges excluded.
- ·Contract tab: AdminUpgradeabilityProxy (Solidity 0.4.24), same implementation as PAXG token itself (0x74271F22...0354be42a).
- ·Paxos internal proxy contract.
- ·Excluded.
Score impact: Removed from top-10 concentration calc.
PAXG is scored across the same four dimensions as every other rated instrument in its class — Disclosure Quality, Redemption Liquidity, Structural Trust, and Holder Concentration. Each dimension contributes up to 25 points. The dimension breakdown above shows where the score comes from; the diligence trail shows every verified fact behind it.
Read the full methodology →