Paxos has released the transparency report for Pax Dollar (USDP) in April, which discloses unaudited financial data of USDP as of May 1, 05:00 Beijing time, including:1. Total Tokens Outstanding is approximately $148,503,536;2. The total amount of US Treasury repurchase agreements providing collateral with a current market value of $34,223,040 and a nominal position value of $33,552,000;3. Cash deposits of $110,503,693 through the FDIC deposit network and other cash deposits of approximately $5,049,428 held by custodial institutions;4. The current market value of the total net assets providing collateral is $149,776,161, with a nominal position value of $149,105,121. Paxos stated that the US Treasury repurchase agreement is a contractual arrangement between two parties, in which one party agrees to sell securities to the other party at a specified price and promises to buy back the securities at another (usually higher) specified price later. If the counterparty defaults, Paxos can liquidate the US Treasury collateral to make up for the loss. As all transactions are over-collateralized, the risk of loss is not considered significant.