Tokenized commodity (custodial)
Tokenized real gold -- custody required.
PAX Gold (PAXG) is an ERC-20 token where each token represents one fine troy ounce of London Good Delivery gold held in Brink's vaults. It is sometimes positioned as "digital gold on Ethereum," which is precisely the slot EVMORE occupies -- with a fundamentally different trust model.
No custodian
PAXG is a claim on Paxos Trust Company's vault holdings. EVMORE is a bearer asset secured by a smart contract. There is no off-chain party that can freeze, blacklist, or revoke balances.
Mining-issued, not minted-on-demand
every EVMORE was produced by computational work submitted to a public contract. PAXG is issued when fiat is paid to Paxos and gold is allocated.
No storage or custody fees
PAXG charges an onchain fee schedule for transfers above thresholds and an annual storage cost. EVMORE is free to hold and free to transfer (gas only).
Self-custody from genesis
no KYC, no whitelist, no off-ramp dependency. PAXG redemption requires being an approved Paxos customer and meeting minimums.
Programmatic supply
21M cap is enforced by Vyper, not by an attestation report. The "supply" claim is verifiable in O(1) by reading the contract.
Regulatory neutrality
PAXG is an instrument of a U.S.-regulated trust company and subject to that jurisdiction. EVMORE is software; the asset exists wherever the chain exists.
If you specifically want exposure to the spot price of physical gold, PAXG tracks that. EVMORE is digital scarcity, not a gold price wrapper.
We do not pretend EVMORE is strictly better on every axis. Pick the asset that matches the property you are buying for.
The verifier is 62 lines. The token is 627. The cap is enforced in Vyper. Nothing about this is hidden.
