> ## Documentation Index
> Fetch the complete documentation index at: https://developers.paxoslabs.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Overview

> PAXGy is a yield-bearing, gold-backed token. Mint and redeem with PAXG on Ethereum, and hold and transfer across Ethereum and X Layer.

# PAXGy

PAXGy is a **yield-bearing, gold-backed token**. Each PAXGy is a claim on a pool of [PAXG (Pax Gold)](/v1.0.0/intro/products/paxg/overview) that is put to work to generate gold-denominated yield. Your balance does not change. Instead, PAXGy accrues value through a **share rate** that increases over time, so the amount of PAXG each PAXGy is worth grows as yield is earned.

<Info>
  Minting PAXGy is available to **approved users** only. Access is granted per wallet address after onboarding with Paxos Labs. See [Access](#access) below.
</Info>

## How PAXGy works

* **Mint.** Deposit PAXG and receive PAXGy at the current share rate.
* **Earn.** The share rate rises over time as the underlying gold generates yield. Your PAXGy balance stays constant while its value in PAXG increases.
* **Redeem.** Submit a withdrawal request to exchange PAXGy back for PAXG at the current share rate.

## Supported networks

PAXGy is a cross-chain token. **Minting and redeeming happen on Ethereum mainnet**, and PAXGy can be held and transferred on both supported networks.

| Network          | Chain ID | Mint / Redeem | Hold / Transfer |
| ---------------- | -------- | ------------- | --------------- |
| Ethereum mainnet | 1        | ✅             | ✅               |
| X Layer          | 196      | Not available | ✅               |

<Info>
  Cross-chain movement of PAXGy between Ethereum and X Layer is handled by [Chainlink CCIP](https://docs.chain.link/ccip). See [Cross-Chain Transfers](/v1.0.0/intro/products/paxgy/api-calldata/cross-chain) for the API flow, or the [Direct Contract guide](/v1.0.0/intro/products/paxgy/developers) to call the contracts yourself.
</Info>

## Token details

| Property | Value                                    |
| -------- | ---------------------------------------- |
| Name     | PAXGy                                    |
| Backing  | PAXG (Pax Gold)                          |
| Decimals | 18                                       |
| Value    | Floating share rate, denominated in PAXG |

## Access

Minting PAXGy is available to approved users only. Onboarding, including KYB and KYC, is handled directly with Paxos Labs. Once your organization is approved, the specific wallet addresses you provide are enabled for minting and redemption.

A wallet that has not been approved can still connect to the PAXGy portal, but minting and redemption remain disabled until access is granted. No separate login, API key, or account is required, because your connected wallet is your identity.

## What's next

There are two ways to integrate, covering the same flows:

<CardGroup cols={2}>
  <Card title="API Calldata Integration" icon="cloud" href="/v1.0.0/intro/products/paxgy/api-calldata/index">
    Prepare ready-to-sign transactions over REST. No ABIs or addresses to manage locally.
  </Card>

  <Card title="Direct Contract Integration" icon="file-code" href="/v1.0.0/intro/products/paxgy/developers">
    Call the contracts yourself, with full control and no API dependency.
  </Card>

  <Card title="PAXG" icon="coin" href="/v1.0.0/intro/products/paxg/overview">
    The gold-backed asset that underpins PAXGy, and its swap API.
  </Card>

  <Card title="WPAXG" icon="coins" href="/v1.0.0/intro/products/wpaxg/overview">
    Wrapped PAXG on Optimism, and its swap API.
  </Card>
</CardGroup>