What is Polymath?
Polymath, a security token platform, uses the ST-20 token standards to comply with government regulations when issuing digital securities. Polymath, which is a platform similar to Ethereum, offers equity in a company – a model that has a well-established regulatory structure. Polymath is focused on KYC and AML to ensure compliance with securities laws.
In 2017 and 2018, ICOs were criticized by government regulators all over the world.
An ICO (initial coin offerings) and an STO are two different things. The equity stake that the company receives is what makes them different. Ripple Labs’ attempt to seperate itself from the XRP token, and Tezos’ legal problems are two great examples of the difficulties early blockchain projects face. Their networks, foundations and tokens can be interchangeably used, with the lines between them blurring.
Everyone jumped on board the ICO bandwagon when the concept was first proven. According to PwC Switzerland, it became a huge business with ICOs raising $5.6 billion in 2017 and $13 billion in 2018. These funds attracted bad actors and more than $100 million was lost due to ICO exit scams.
Polymath believes that it has the solution, spurring the rise of STOs and building a solid ecosystem for blockchain technology. Thomas Borrel, CPO of Polymath, believes that the STO will transform the investment industry.
Is this the end of the ICO?
Let’s first take a look at POLY token performance and how it compares to other cryptocurrency markets.
What is Polymath Network (POLY), and how can it help you?
POLY is the native token of the Polymath network. POLY, an ERC-20 standard token, is the platform’s cryptocurrency. It is used to pay gas fees to create or issue security tokens. POLY can be used to pay additional services such as legal advice, assistance with token sales, custodial services, and KYC and AML regulatory services. POLYX is the native protocol token of Polymesh and can be upgraded to POLYX 1:1.
Security tokens are a new category of digital assets. These digital security tokens can be used to represent any type asset. They can be liquid assets such as stocks or bonds, but they can also represent illiquid assets such as real estate and intellectual properties. According to the whitepaper security tokens offer tremendous market opportunities and can change the financial landscape. This project will lower the barriers to creating and managing security tokens.
Polymath Network aims to bring transparency and efficiency into the security token market. It even has certain features such as
Open Source: This project is transparent and kept open to the public.
Standardized: Tokens are standardized by ERC-1400 tokens. This ensures that the code of each token meets minimum technical requirements.
Modular: Tokens can be customized and built according to user’s needs.
Automated: The system automates the rules that issuers set, such as who can hold the token and how they can transfer, jurisdictional requirements, and so forth.
End-to–End: The platform integrates with custodians and legal requirements, token selling platform, KYC providers, broker-dealers, and other relevant parties.
History of the Polymath Network
Polymath was established in 2017. Polymath was founded in 2017. It raised $59 Million through a private sale. Since January 2018, Polymath’s Ethereum technology has been available. Polymath was also instrumental in the development of ERC-1400, which is the most widely used standard for security tokens. The platform also announced Polymesh, a custom-built blockchain initiative. The Parity Substrate framework is used to build the Polymesh layer-1 Blockchain. Polymesh was launched by the Polymesh Association, a not-for profit organization. It was launched in October 2021. Users can upgrade their ERC-20POLY to POLYX with an optional 1:1 upgrade bridge. This native token is available on Polymesh. The Ethereum smart contracts are still in existence and are used regularly by major institutions and the community.
Polymath Overview
| Cryptocurrency | Polymath |
| Ticker Symbol | POLY |
| Price | $0.2068 |
| Price Change 24h | -1.25% |
| Price Change 7d | -1.25% |
| Market cap | $229,380,077 |
| Circulating Supply | 924,998,413 POLY |
| Trading Volume | $24,911,271 |
| All time high | $1.66 |
| All time low | $0.01075 |
| Polymath ROI | -68.76% |
What’s unique about Polymath?
Although security tokens offer a great market opportunity, there are many barriers to institutional adoption. Polymath is removing these barriers through Polymesh, an institution-grade blockchain designed for security tokens. It’s also the first dedicated network of its type. Polymesh’s foundations are focused on providing, through key design principles and the most essential elements that investors and issuers require, as well as regulators and institutions, the following: identity, privacy, and governance.
POLY can be traded on increasing numbers of exchanges. There are fiat pairs, stablecoins, and cryptocurrencies available. The biggest markets: Binance and Upbit, Coinbase and Coinbase.