What is Polymath (POLY)?
Polymath provides the technology to create, issue and manage security tokens on the blockchain. Polymath spearheaded the creation of a unified standard for security tokens on Ethereum, ERC 1400, and more than 200 tokens were distributed using Polymath's Ethereum-based solution. Recognizing that existing blockchains were not enough to meet the regulatory requirements of capital markets, Polymath created Polymesh, an institutional-grade blockchain built specifically for regulated assets. Polymath simplifies outdated processes and opens the door to new financial tools by solving the challenges inherent in public infrastructure around identity, compliance, confidentiality, governance, and regulation. Who founded Polymath?
Polymath was founded while searching for a solution to tokenize a private fund. During this process, it became clear that complex technical and legal challenges made it very difficult to launch titles on the blockchain. This has led to a much broader vision: instead of just launching a single tokenized micro-fund, why not make it easy for anyone to launch a security token? With this idea Polymath was born.
Polymath has team members and collaborators around the world and a growing list of more than 50 global service providers. What makes Polymath unique?
Security tokens represent a huge market opportunity, but there are significant obstacles to institutional adoption. Polymath addresses these barriers with Polymesh, an institutional-grade blockchain built for security tokens and the first specialized chain of its kind. The foundation of Polymesh is focused on providing, through key design principles, the most crucial elements needed by issuers and investors and required by institutions and regulators: identity, compliance, confidentiality, and governance. When combined, these four pillars also support more complex operations, such as settlement.
When it comes to creating and managing digital value, the specificity of Polymesh gives Polymesh, and applications based on it, a distinct advantage over generic blockchains. The purpose-built infrastructure fills in the gaps in the standard blockchain architecture to align the operation of the blockchain with the requirements of modern capital markets.
In addition to designing Polymesh, Polymath has also built a number of on-chain tools that offer non-technical users an intuitive means of accessing chain functionality. By combining the advanced features of Polymesh with intuitive tools, Polymath can transform the capital markets. How many POLYs are in circulation?
After the successful launch of the Polymath platform, POLY was created to interface with the platform. POLY is the utility token that powers Polymath Token Studio on Ethereum and is used by issuers who create and manage security tokens on the platform. Nearly 100,000 wallets contain POLY with 240,000,000 tokens distributed during launch. POLY's maximum bid is 1 billion. 925,000,000 will circulate until January 31, 2022. The team blocked the last 75 meters until January 2024.
Polymesh is currently in the testnet phase. When the Polymesh Mainnet launches, ERC20 POLY holders can optionally upgrade their POLY on a 1:1 basis to POLYX. The only POLYXes in existence are those created through the upgrade process and those created by the blockchain for proof-of-stake rewards. Once the Mainnet is active, the circulating supply of Ethereum-based POLY will decrease by the amount traded with Polymesh. Where can I buy POLY?
POLY is available for trading on a growing number of exchanges, with cryptocurrency, stablecoin and fiat pairs currently available.
The largest markets are: Binance, Upbit and Coinbase.