POLY to token ERC-20, którego celem jest ułatwienie generowania tokenów bezpieczeństwa i zarządzania nimi na platformie Polymath. Tworząc skoncentrowany na zgodności standard (ST-20) do emisji i zarządzania tokenami bezpieczeństwa, Polymath dąży do tokenizacji tradycyjnych i nowych klas aktywów.
What Is Polymath Network (POLY)?
The Polymath network’s native token is POLY. POLY is an ERC-20 standard token and is also the platform’s cryptocurrency. The token finds its primary utility as gas fees for creating or issuing security tokens. Moreover, POLY can also be used for paying the network’s additional services like legal advice, assistance in token sales, custodial solutions, and providing KYC and AML regulatory services. POLY can be upgraded 1:1 for POLYX, the native protocol token of Polymesh.
Security tokens are a new class of digital assets. These digital security tokens aim to represent any type of asset, be it liquid assets like stocks and bonds or illiquid assets like real estate and intellectual property. As per the whitepaper, security tokens represent tremendous market opportunities and can alter the financial landscape. The project aims to lower the barriers around creating and managing security tokens.
The Polymath network aims to brings transparency and efficiency to the security token market. The platform even offers certain features, including
Open Source: The project is transparent and has kept itself open to the public.
Standardized: The project uses standardized ERC-1400 tokens, ensuring the token’s code meets requirements to minimize technicalities.
Modular: Tokens are specifically built and customized according to the user’s requirements.
Automated: The system can automate the rules set by issuers like who can hold the token, how they can be transferred, jurisdictional requirements, etc.
End-to-End: The platform provides an end-to-end solution and can integrate with custodians, legal requirements, token sales platform, KYC providers, Broker-Dealers, etc.
History of Polymath Network
Polymath was founded in 2017. Polymath raised $59 million in a private sale. Polymath’s technology on Ethereum has been live since January 2018. Later in 2018, Polymath spearheaded ERC-1400, the most widely implemented standard for security tokens. In May 2019, the platform announced the custom-built blockchain initiative Polymesh. The Polymesh layer-1 blockchain is built using the Parity Substrate framework. The not-for-profit Polymesh Association launched Polymesh in October 2021. There is an optional 1:1 upgrade bridge for users to upgrade their ERC-20 POLY to POLYX, the native token on Polymesh. The Ethereum smart contracts continue to exist and are used on a regular basis by the community and major institutions.
How Many POLY Tokens Are There?
The total supply of POLY tokens is 1 billion. As of August 11, 2022, 377 million have gone through the one-way upgrade bridge, leaving only 623 million POLY available on Ethereum.
How to Buy POLY Tokens
The POLY token is available on several exchanges, including Coinbase. Coinbase is secure, safe, and easy to use.
![USDX [Kava]](https://asset-metadata-service-production.s3.amazonaws.com/asset_icons/e9f3d994e0965e77efdb0fc22647fb397a7488cf9db036821e583366f7e62936.png){kind=icon}
