The primary purpose of BUSD was to provide a stable and secure way to store and transfer value on the blockchain. It was designed to be used as a medium of exchange, a store of value, and a unit of account. BUSD could be used to settle transactions, pay fees, and participate in decentralized finance (DeFi) applications.

BUSD can still be bought and sold on decentralized exchanges, including Uniswap and Curve.

Your BUSD can be stored in a wallet that supports ERC20 tokens indefinitely, however, it may not always be accepted for exchange. It is recommended to convert BUSD to USDP or redeem it for USD on the Paxos platform.

Yes, BUSD can be redeemed for US dollars on a 1:1 basis. Paxos, the issuer of BUSD, holds an equivalent amount of US dollars in reserve for every BUSD in circulation, which can still be redeemed.