Convert Paxos Standard PAX to Exchange Request for Bitbon ERBB

The Paxos Standard Token is a stablecoin running on Ethereum. For stablecoins like PAX, the company behind the protocol is responsible for holding reserves that fully back each token. The company behind PAX, Paxos Trust Company, claims to hold reserves that fully back each PAX.

The Bitbon System is a form of Community organization as a decentralized social network of economic relations that allows users to realize social relations through tokenized assets using the Bitbon System infrastructure in accordance with the Bitbon System Public Contract ( KEY ELEMENT OF THE BITBON SYSTEM Bitbon digital asset is the key element of the Bitbon System infrastructure, representing software that provides access to the Bitbon System functionalities. Bitbon digital asset is a strictly limited resource of the Bitbon System since it is limited to 100,000,000 Bitbon units. Additional issue of Bitbon units is impossible. Bitbon digital asset is a system-forming digital asset created by Simcord as a result of tokenization of its property. Bitbon digital asset implements a method of accounting of the right to use the company’s property and access to the Bitbon System infrastructure. Bitbon digital asset as the key element of the Bitbon System ensures the ability to make deals in the Bitbon System using tokenized contractual relations. THE ERBB SERVICE The ERBB (Exchange Request for Bitbon) service is a bridge between the Bitbon System and the Ethereum network. The ERBB service is a base service of the Bitbon System, which allows transforming Bitbon units into ERBB units (distributed ledger token of the ERC20 standard in the Ethereum blockchain network) as well as transforming ERBB units into Bitbon units. The ERBB service is a part of the Bitbon System infrastructure that Bitbon System Users are entitled to use on the basis and to the extent provided for in the legal document ERBB Service ( The main function of the ERBB service is promotion and development of the Bitbon System. ERBB token units correspond to the number of units of the specialized Bitbon digital asset software to access the Bitbon System infrastructure in a 1:1 ratio. The total number of ERBB token units in the Ethereum blockchain network cannot exceed the number of Bitbon units blocked in the ERBB service. Max Total Supply of ERBBs cannot exceed 100,000,000 units. DIRECT AND REVERSE TRANSFORMATION OF BITBON AND ERBB The direct transformation is a process of reducing the information and applied nature of the Bitbon digital asset by blocking Bitbon units in the ERBB service and issuing an equivalent number (1:1) of ERBB units for their circulation in the Ethereum blockchain network. The reverse transformation is a process of changing the information and applied nature by burning a certain number of ERBB units in order to unlock an equivalent number (1:1) of Bitbon units to provide access to the Bitbon System. ADDITIONAL INFORMATION The Bitbon System is being developed under a start-up model that envisages 5 stages. The project is currently at stage 4, which includes the launch of key components and services. The project is developed and services are launched in accordance with the Start-Up Roadmap ( The Bitbon System infrastructure includes an ecosystem of services as well as a set of tools for tokenization of socioeconomic relations. The economic and legal model of the Bitbon System envisages the development of a network of regional offices for integration with the market infrastructure of the regions within the framework of the current legislation. One Space ( is the main service for using the functionalities of the Bitbon System infrastructure. USEFUL LINKS Project website: Services: Concept: Roadmap: Annual report on the start-up development: : Legal basis: