Paxos USDP April Transparency Report: Total outstanding tokens around $148 million

Paxos officially released the April Pax Dollar (USDP) Transparency Report, which disclosed the unaudited financial data of USDP as of 05:00 Beijing time on May 1, mainly including:
Total Tokens Outstanding is approximately $148,503,536.
2. The current market value of the collateral provided by the total amount of the US Treasury mortgage reverse repurchase agreement is $34,223,040, and the nominal position value is $33,552,000.
3. Cash deposits of $110,503,693 through the FDIC deposit network and other cash deposits of approximately $5,049,428 from depository institutions.
The current market value of the collateral provided for the total net assets is $149,776,161, and the nominal position value is $149,105,121.
A Treasury reverse repurchase agreement is a contractual arrangement between two parties in which one party agrees to sell a security to the other at a specified price and promises to buy it back later at another (usually higher) specified price, Paxos said. If the counterparty defaults, Paxos is able to liquidate the Treasury collateral to cover losses, and since all transactions are over-collateralized, the risk of loss is not considered significant.