Polymath (POLY) 2018-04-13T04:46:39+00:00

Polymath (POLY)

Project Description

Purpose

Polymath is a protocol built on Ethereum. The Polymath platform opens up the blockchain to legally compliant securities offerings with a network of services designed to lower associated transaction costs over time. At a high level, Polymath provides a decentralized protocol for trading security tokens, enables individuals and institutions to authenticate their identity, residency, and accreditation status to participate in a wide range of security token offerings (STOs), allows legal delegates to bid on new issuances to represent issuers on offerings to be done in a regulatory compliant manner and matches issuers with developers who can translate issuers Security Offering parameters into secure code that generates ERC20 compatible tokens.
 
The Polymath Token (POLY) is a utility token for Issuers, Investors, and Developers to access, use and further develop the Polymath network. Issuers will pay a POLY fee to create and issue securities tokens. Investors pay a POLY fee for KYC/AML verification and to interact with the Polymath network (buy/sell/trade STs). Developers will receive POLY to continually evolve the network.

Strengths

– Platform for issuing SEC compliant securities tokens
 
– First Securities token exchange
 
– Easy for non-technical issuers to launch security tokens

Weaknesses

– The live network is not up
 
– No roadmap

Network Status

There is no live network yet. There is an alpha but no ETA on when the live network will be up.

Roadmap

There is no roadmap yet, but one should be available after Polycon on March 3rd.

Governance

Holding POLY doesn’t give any voting rights concerning the development of the Polymath platform. Only the Polymath team can decide on updates.

Similarities

Polymath is similar to tZero since they both are an exchange where it’s possible to trade securities tokens.
 

Notable partnerships

Polymath is partnered with SelfKey who will provide a blockchain-based KYC onboarding software to screen Polymath participants and whitelist their addresses and with tZero.

Exchange

POLY is traded on Kucoin.

Stack

Polymath is a protocol layer built on top of the Ethereum blockchain.

Community

Reddit: 2 560 subscribers
Twitter: 17 977 followers

Price history

Feb-28-2018: 1.19 USD
Feb-1-2018: 0.79 USD
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.

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