Polymath

What is Polymat (POLY)?

POLY is the native token of the Polymath network. It uses the ERC-20 token standard. Polymath is an Ethereum (ETH) based platform that allows users to develop security tokens. In particular, the platform is used to issue ERC-1400 tokens.

The Polymath ecosystem also works Polymesh (POLIX), a security-based blockchain that offers solutions for identity, compliance, privacy, governance and settlement. It aims to address security concerns regarding regulated assets on blockchains. Current and historical POLY price data can be accessed above.

Who are the creators of Polymath?

Polymath was founded Chris Hasser. Hausser is a blockchain lawyer and COO of Polymath. Vincent Kadar – CEO of the company with more than thirty years of experience in the technology sector.

The platform served as a solution to the problem security issues associated with initial coin offerings (ICOs). While token fundraising has been beneficial for decentralized finance projects, the traditional financial sector has not been able to easily make the migration. Polymath was created to combine traditional financial securities with blockchain.

Polymath was officially launched in 2017. Throughout its existence, Polymath’s price experienced some minimal volatility, but remained generally low.

Using Polymath, traditional businesses can create tokenized securities for their regulated assets. It provides financial security and integrity, allowing investors and businesses conduct transparent transactions using blockchain technology such as smart contracts while complying with regulatory requirements.

Polymath strives to follow general market trends. As is the case with a number of major cryptocurrencies, Polymath’s price rose in November 2021, peaking just below $1. It was also impacted by the June 2022 market crash, although its value remained above the $0.10 threshold.

What are the main features of Polymath?

Polymath has a fixed supply of tokens limited to 1 billion. This does it deflationary resourceThus, the price of POLY is expected to rise in the future as supply decreases. Approximately 92.5% of all tokens are currently in circulation, with the remaining 7.5% remaining locked until January 2024.

The Polymath ecosystem consists of two main parts: Polymathplatform for developing security tokens, and Polymesh, blockchain for regulated asset management. The tools offered by the ecosystem are easy to use and require no technical knowledge, ensuring that security assets are accessible to both cryptocurrency novices and experts.

Polymath’s main service is the development of ERC-1400 tokens. The platform has been used to deploy over 200 security tokens. The utility of the asset, along with Polymath’s low price, makes it an attractive investment with real growth potential. It is expected that in the future such tokens can be used for staking Security Token Offerings (STO).

The Polymath token is required for all transactions and interactions in the ecosystem. Users who want to create new smart contracts for security tokens use POLY to pay for the service. The platform requires KYC/AML verification, which can also be accessed using Polymath tokens.

Polymath uses Proof of Stake (PoS) consensus algorithm, and the POLY token is used for betting. Tokens can be staked by legal representatives, developers and KYC providers to complete the registration process. They will then be able to participate in the STO and invest their tokens in promising network projects.

Polymath offers unique security measures for transactions made on decentralized exchanges (DEX). Security tokens can be traded on such platforms while complying with the requirements and regulations. Additionally, the platform offers legal advice to investors to ensure they follow the correct procedures.

The Polymesh blockchain has its own token POLIX. Since the launch of the Mainnet, users can convert their POLY tokens into POLYX at a 1:1 rate. This means that Polymath’s price is not affected by conversion rates.

POLYX is a designated asset for payments on the Polymesh blockchain. Depending on the services they choose, users must pay a transaction, protocol, or developer fee. POLYX can be earned as a reward for participating and acting as a node operator or developer.