What is Polymath?
The Polymath network is a decentralized platform that aims to simplify the process of creating and managing security tokens. The network's native token, POLY, serves as the primary means of paying for services such as legal advice, assistance in token sales, custodial solutions, and regulatory compliance. The platform also offers several key features, including open-source transparency, standardized ERC-1400 tokens, modular customization, automated rules, and an end-to-end solution for creating security tokens.
Founded in 2017, Polymath raised $59 million in a private sale and has been live on the Ethereum network since January 2018. The platform has also developed the custom-built blockchain initiative, Polymesh, which uses the Parity Substrate framework. The not-for-profit Polymesh Association launched Polymesh in October 2021, and users have the option to upgrade their ERC-20 POLY to POLYX, the native token on Polymesh. The Ethereum smart contracts continue to be used by the community and major institutions.
The security token market is a new class of digital assets that aims to represent any type of asset, whether it be liquid assets such as stocks and bonds or illiquid assets such as real estate and intellectual property. The Polymath network aims to bring transparency and efficiency to this market by providing a comprehensive solution that addresses all aspects of creating and managing security tokens.
The team behind Polymath includes a group of experienced professionals and industry leaders, including the CEO and founder, Trevor Koverko, who previously founded several successful technology companies. The team also includes a legal advisor and several experienced engineers and developers who have worked on the development of the platform and its underlying technology.
Overall, the Polymath network and its native token, POLY, aim to revolutionize the financial landscape by making it easier and more efficient to create and manage security tokens. With its comprehensive approach and team of experienced professionals, the platform is well-positioned to capitalize on the growing market opportunities in the security token space.
Furthermore, the Polymath network aims to provide a platform for security token issuers to comply with regulatory requirements. The platform has a built-in compliance protocol, known as the "Security Token Standard" (ST-20), that enforces compliance rules on the issuance, trading, and transfer of security tokens. This ensures that only authorized investors can purchase and trade the tokens, and that the tokens are compliant with local securities laws and regulations.
The Polymath team is led by CEO and Co-Founder Trevor Koverko, who has over a decade of experience in the technology and finance industries. The team also includes experienced professionals from the legal, regulatory, and blockchain industries. In addition, the Polymath network has a growing number of partners and collaborators, including major exchanges, custodians, legal firms, and other institutions.
The POLY token has a total supply of 1 billion tokens, with a current market capitalization of over $500 million. The token is listed on several major cryptocurrency exchanges and is actively traded by a large and growing community of investors and traders. The Polymath network is constantly evolving, with new features and services being added regularly to meet the needs of security token issuers and investors. The platform aims to provide a comprehensive solution for the security token market and to help unlock the potential of this new asset class.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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