What Is Polis (POLIS)?

Polis (POLIS) is the major asset on the Olympus Network. According to its website, Polis lets users pay for the transaction fees and enables them to transfer value stored in Polis within the network. Further, the Polis Chain claims to be EVM-compatible, which means it can execute smart contract code. The Ethereum Virtual Machine is the software platform that developers can utilize to develop Dapps on the Ethereum network.  Polis operates on a Proof-of-Stake consensus mechanism. Polis is a project driven by the community. Since its commencement, the project has provided the power to the community to shape its present and future. Historically, the governance on the Polis blockchain assisted in funding the project development and community proposals that ranged from marketing initiatives to charity and education efforts worldwide.

According to its official document, Polis stakers assist in securing the network by supporting chain validators. These validators get rewarded at the end of each week. They also share the rewards proportionally with all the stakers who helped them.

POLIS is the native token of the Polis network. The maximum supply of the POLIS token is 25,000,000 POLIS. Forty percent of the tokens were distributed to the LPs (Liquidity Pool) out of the total supply. Apart from this, 35 percent went to the community treasury, and 25 percent to the staker. POLIS token offers various benefits to its holders, such as:

• The user can send and receive POLIS.

• The user can stake their tokens to create or support a validator.

• Users can interact with tokens and NFTs deployed on the Polis Chain.

• Users can bridge tokens from other networks.

• The developers can explore blockchain information and build apps and services.