A Paxos spokesperson conveyed that the recent depegging of the Pax Dollar (USDP) was due to pricing aggregator issues, not problems within the stablecoin's protocol.

The incident saw USDP's value momentarily spike to $1.29 on April 16.

However, the price stabilised back to $1 within three hours of this fluctuation.

The spokesperson emphasised the inherent stability of USDP, ensuring that it will consistently be redeemable for $1 on Paxos, regardless of potential price variances across different trading platforms.

This suggests that the integrity of the USDP's value remains intact, attributing the temporary depeg to external computational anomalies rather than the stablecoin's design or operational framework.