PayPal’s PYUSD Launch Sparks Flood of Faux Tokens on Uniswap
Following the launch of PayPal’s just lately introduced ERC-20 stablecoin, PayPal USD, quite a lot of pretend tokens with the PYUSD ticker have appeared on the decentralized trade (DEX) Uniswap.
Following the launch of PayPal’s just lately introduced ERC-20 stablecoin, PayPal USD, quite a lot of pretend tokens with the PYUSD ticker have appeared on the decentralized trade (DEX) Uniswap.
PayPal has verified the real PayPal USD ERC-20 contract handle via Etherscan, and the precise ERC-20 token was created on Nov. 8, 2022.
At the moment, PYUSD/WETH and PYUSD/WBNB are buying and selling pairs on Uniswap that use the PYUSD ticker.
PYUSD will solely be accessible via PayPal, in keeping with PayPal, which didn’t say whether or not it supposed to listing on different exchanges like Coinbase or Binance.
Nonetheless, PayPal USD is perhaps used to ship cash between PayPal and appropriate third-party wallets, and exchanges may settle for it, so the stablecoin would possibly ultimately seem on DEXs.
The tokens at the moment buying and selling on Uniswap are doubtless degens launching memecoins primarily based on current scorching matters, comparable to Elon Musk’s X and the superconductor LK-99.
