Pricing aggregators caused Pax Dollar to depeg
Despite potential price fluctuations on different trading venues, USDP will always remain redeemable for $1 on Paxos, a spokesperson told Cointelegraph.
The recent depegging of the Pax Dollar (USDP) stablecoin was caused by issues with pricing aggregators, not the protocol itself, according to a Paxos spokesperson
The Pax Dollar’s price briefly surged to $1.29 on April 16, before returning to $1 within three hours after the de-peg, according to CoinMarketCap data.
A Paxos spokesperson told Cointelegraph:
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