bitCNY vs Paxos vs Maker Token
What problem does this service solve?
bitCNY is intended to serve as financial tool that will help stabilize the price of BTS relative to the Chinese Yuan. | Paxos provides a variety of financial trust and custodial services for clients that want to take advantage of the benefits of blockchain, while remaining compliant with legal and regulatory frameworks. | The Maker token is the native token of the MakerDAO platform. Its purpose is to help govern and stabilize the DAI stablecoin project. |
Token Stats
Company Description
bitCNY is a decentralized stablecoin that is pegged to the Chinese Yuan. It is based on the BitShares blockchain and has a Delegated Proof-of-Stake (dPoS) consensus mechanism. As a market pegged asset, the bitCNY token represents the amount of BitShares (BTS) that are equivalent to one Chinese Yuan. | Paxos is a regulated financial company specializing in providing blockchain trust and custodial services for their clients. Paxos' settlement platform (Bankchain) is designed to be integrated with existing systems and to eliminate settlement risk in the exchange of digital assets. The company created a USD backed stablecoin called PAX, that is built on the Ethereum blockchain, and is meant to assist their clients in converting a variety of assets into digital versions, that can be more easily exchanged on a blockchain. | The Maker token (MKR) is the MakerDAO native token. It acts as a utility token, governance token and a recapitalization tool for the MakerDAO platform, which manages the DAI stablecoin. MKR is used as part of the stabilizing mechanism that is in place to combat the price volatility of the DAI stablecoin. |