Pegged to the U.S. Dollar, BUSD was designed to give traders and investors a low-volatility asset that they could hold on the blockchain. Learn more about $BUSD ⤵️
The mechanism for keeping BUSD’s peg is relatively simple compared to other types of stablecoin. Each BUSD is exchangeable for 1 USD from the reserves. By sending your BUSD to Paxos, they will burn your tokens and provide you with the fiat currency. This mechanism keeps the supply and reserves at a constant 1:1 ratio.will purchase BUSD in large quantities. Even a price of $0.98 could provide them an opportunity to make a profit.
Inbuilt within the smart contracts of the token is a new function that reflects the regulation of the stablecoin:. This small piece of code allows Paxos to use the powers mentioned previously in upholding NYDFS regulations.Based on the attributes we talked about earlier, BUSD has multiple use cases for crypto investors and traders.The crypto ecosystem can be very volatile.
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