> ## 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 receipt token backed by PAXG. Each PAXGy represents an entitlement to a quantity of PAXG that increases over time. Mint and redeem with PAXG on Ethereum, and hold and transfer across Ethereum and X Layer.

PAXGy is a **receipt token backed by PAXG**. Each PAXGy represents an entitlement to a quantity of PAXG that increases over time that is deployed into gold lending facilities. Your balance does not change when you hold PAXGy. Instead, PAXGy accrual occurs through an **exchange rate** that increases over time, so the amount of PAXG each PAXGy is worth grows over time.

<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 exchange rate.
* **Accrue.** The exchange rate rises over time as the underlying PAXG is deployed. Your PAXGy balance remains constant while the PAXG within the reserves increases.
* **Redeem.** Submit a redemption request to exchange PAXGy back for PAXG at the current exchange rate.

## Supported networks

PAXGy is a **natively cross-chain asset**. Today, minting and redemptions occur on Ethereum mainnet, and PAXGy can be held and transferred on all supported networks.

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

<Info>
  Cross-chain movement of PAXGy between blockchain networks 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 |
| Decimals | 18 |
| Value | Exchange rate, denominated in XAU |

## Access

Minting PAXGy is available to approved users only. Once your organization is approved, the specific wallet addresses you provide can be enabled for minting and redemption.

## Integration Support

<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>
</CardGroup>