Paxos has released its February transparency report for Pax Dollar (USDP), which includes unaudited financial data up to 06:00 on March 1st Beijing time. The report includes: 1. Total Tokens Outstanding of approximately $203,051,111, a decrease of over $150 million from January 2024; 2. The total amount of US Treasury Reverse Repurchase Agreements providing collateral with a current market value of $36,445,732 and a nominal position value of $35,731,000; 3. Cash deposits of $160,764,519 through the FDIC deposit network, with other cash deposits held by custodial institutions of approximately $160,764,519; 4. The current market value of the total net assets providing collateral is $205,455,605, with a nominal position value of $204,739,757. Paxos stated that US Treasury Reverse Repurchase Agreements are contractual arrangements between two parties, where one party agrees to sell securities to the other party at a specified price and commits to buy back the securities at another (usually higher) specified price later. If the counterparty defaults, Paxos can liquidate the US Treasury collateral to cover losses. As all trades are over-collateralized, the risk of loss is not considered significant.