In the ever-evolving world of blockchain technology, Polymath (POLY) stands out as a transformative force, aiming to redefine the landscape of digital securities. As a platform that simplifies the creation, issuance, and management of security tokens, Polymath has pioneered a standardized framework, drastically easing the complexities involved. With over 200 tokens already in circulation and the development of Polymesh—an institutional-grade blockchain for regulated assets—Polymath addresses critical challenges such as identity, compliance, privacy, and governance. Dive into how Polymath is revolutionizing capital markets and paving the way for new financial instruments.
What Is Polymath (POLY)?
Polymath provides 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 over 200 tokens have been deployed using Polymath’s Ethereum-based solution. Recognizing that existing blockchains were insufficient to meet regulatory requirements of capital markets, Polymath built Polymesh, an institutional-grade blockchain built specifically for regulated assets. Polymath streamlines antiquated processes and opens the door to new financial instruments by solving the inherent challenges with public infrastructure around identity, compliance, confidentiality, governance, and settlement.
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 securities on the blockchain. This led to a much larger vision: instead of launching just one tokenized microfund, why not make it easy for anyone to launch a security token? With this idea, Polymath was born. Polymath has team members and contributors worldwide and a growing list of over 50 global service providers.
What Makes Polymath Unique?
Security tokens represent a tremendous market opportunity, but there are significant barriers standing in the way of institutional adoption. Polymath addresses these barriers with Polymesh, an institutional-grade blockchain built for security tokens and the first specialized chain of this nature. The foundations of Polymesh are focused on providing through key design principles the most crucial elements that issuers and investors need, and that institutions and regulators require: identity, compliance, confidentiality, and governance. When put together, these four pillars also support more complex operations, such as settlement.
When it comes to creating and managing digital securities, Polymesh’s specificity gives it, and the applications built on it, a distinct advantage over general-purpose blockchains. The purpose-built infrastructure addresses the gaps in standard blockchain architecture to align the functioning of the blockchain with the requirements of modern capital markets.
In addition to engineering Polymesh, Polymath has also built a series of tools on the chain that offer non-technical users an intuitive means to access the chain’s functionality. By combining Polymesh’s deep functionality with user-friendly tools, Polymath stands to transform capital markets.
How Many POLY Are There in Circulation?
After a successful Polymath platform launch, POLY was created to interact with the platform. POLY is the utility token that fuels the Polymath Token Studio on Ethereum and is used by issuers creating and managing security tokens on the platform. Almost 100,000 wallets hold POLY with 240,000,000 tokens having been distributed during launch. The max supply of POLY is 1 billion. 925,000,000 will be circulating by January 31, 2022. The team has locked up the final 75m until January 2024.
Polymesh is currently in the testnet phase. When the Polymesh Mainnet launches, ERC20 POLY holders may optionally upgrade their POLY on a 1:1 basis for POLYX. The only POLYX that exist are those created via the upgrade process and any created by the blockchain for Proof-of-Stake rewards. Once Mainnet is live, the circulating supply of Ethereum-based POLY will decrease by the amount that is swapped to 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.
Tokenomics and Distribution Model
The Polymath crypto token, POLY, is an ERC-20 token on the Ethereum blockchain. It is the native token of the Polymath platform, used for operations and governance. POLY can be upgraded to POLYX, the native coin of Polymesh, on a 1:1 ratio. The circulating supply of POLYX is expected to increase at the expense of POLY tokens, which have an unlimited total supply.
As of February 7, 2024, the market cap of POLY is over $130 million, while POLYX has a market cap of over $120 million. The current price of Polymath tokens is fluctuating near $0.15.
The total token supply of POLY is not explicitly stated in the provided sources. However, the sources mention that over 200 security tokens have been deployed using Polymath's Ethereum-based solution, and they are launching an institutional-grade blockchain built specifically for regulated assets.
The distribution model of POLY is not explicitly outlined in the provided sources. However, the sources mention that Polymath is a security token platform and a one-stop solution to the problems that security tokens cannot be traded/regulated have no interface (expensive) or no ecosystem (cannot get help). It created the world's first security token that is fast, convenient and low-cost coin community. Polymath will enable cryptos to represent stocks in traditional financial assets such as private equity, stocks, commodities, venture capital funds and real estate. Polymath will include four layers: first, the protocol layer transitions from Ethereum-based smart contracts to Polymath's blockchain, the second is the application layer to easily create asset tokens for issuers, the third is the legal layer for
The Purpose and Utility of the Polymath Crypto Token
The Polymath crypto token (POLY) is a utility token used in the Polymath blockchain to incentivize and fund various operations of the platform. It is used by all parties involved in issuing security tokens, including issuers, investors, and network nodes.
On the issuer side, POLY is used to pay for fees associated with the creation, distribution, and management of security tokens, dividends, and liquidation methods. Investors use POLY to pay for KYC/AML verifications. Network nodes earn POLY for keeping the network secure by performing blockchain data verifications.
The Polymath platform offers white label security token creation services, where Polymath’s developers help companies create crypto assets on their behalf. The platform also includes a self-service application called Token Studio, which allows users to create, issue, and manage security tokens through a simple, intuitive interface.
The Polymath Service Provider Marketplace is a platform that connects issuers with service providers who can assist with various aspects of security token issuance, such as legal, marketing, and technology services.
The Polymath Core smart contracts provide a system for launching regulatory-compliant securities tokens on a decentralized blockchain. This system has a modular design that promotes a
