Sign up and get crypto →
Polymath logo

Polymath price

(POLY / USD)

Market stats

$182.1M

$15.9M

-6.83%

898.8M POLY

22 days

69% buy
31% sell

#71

$1.66

+0.23%

-0.86%

+16.8%

Get crypto for getting started

Jump start your portfolio with free crypto after you sign up. Terms apply.

freeBtc

About Polymath

POLY is an Ethereum token that aims to facilitate digital securities trading on the Polymath platform. By creating a compliance-focused standard (ST-20) to issue and manage security tokens, Polymath seeks to tokenize and support the trading of traditional and new classes of assets.

What Is Polymath Network (POLY)?

Running on Ethereum, the Polymath network is a platform used to issue, create, and manage the digital security tokens on the blockchain. Security tokens are the financial securities representing ownership of a valuable asset like stocks, real estate, etc. The project simplifies and fastens for users to get into the securities market. As stated by the cofounder, “The project makes it easy to tokenize and trade the assets.” In simpler terms, the Polymath network guides issuers through the complex technical and legal process of a successful token launch.

Tokenized securities are a new class of digital assets. Security tokens are like small pieces of assets that reside on a blockchain. These digital securities can tokenize 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, the security tokens represent tremendous market opportunities and can alter the financial landscape. But there are substantial legal and technological barriers to institutional adoption. The Polymath network was introduced to address this problem, i.e., to help projects and issuers release security tokens. The project aims to lower the barriers providing security tokens to the issuers and make it effortless. 

The Polymath network brings transparency and efficiency to the security token market. The platform even offers certain features.

  • Open Source: The project is transparent and has kept itself open to the public.

  • Standardized: The project uses standardized ERC1400 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 manages works of custodians, legal requirements, token sales platform, KYC provider, etc.

Coming to the token, 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.

History of Polymath Network

Polymath was cofounded in 2017 by Chris Housser. Chris Housser holds a law degree from the University of Western Ontario. 

Vincent Kadar is the network’s CEO, and Adam Dossa is the CTO.

During its initial coin offering (ICO), the Polymath network raised $207 million on January 12, 2018. In May 2019, the platform announced the custom-built blockchain initiative Polymesh. Polymesh was planned to be built in collaboration with Charles Hoskinson, cofounder of Ethereum and Cardano.

How Are New POLY Tokens Created? 

As reported in the whitepaper, the network uses a Proof-of-stake consensus mechanism. Here the whole system is controlled by validators and nominators. Validators are the big stakers and are authorized to run and secure the nodes all the time. Validators can earn block rewards in the form of POLY tokens. Meanwhile, nominators are the small stakers who select the validators as their signal of trust. The stake of nominators is distrusted across the chosen validators. Nominators earn the share of block rewards in the percentage of their stake.

How Many POLY Tokens Are There?

The total supply of POLY tokens is 1 billion.

How to Buy POLY Tokens

The POLY token is available on several centralized and decentralized exchanges like Coinbase.

Polymath is on the rise this week.

The price of Polymath has risen by 16.80% in the past 7 days. The price declined by 0.86% in the last 24 hours. In just the past hour, the price grew by 0.23%. The current price is $0.20265 per POLY. Polymath is 87.79% below the all time high of $1.66.

The current circulating supply is 898,760,829.67 POLY.

Polymath on social media.

Polymath was mentioned in 287 out of 1,768,251 social media posts on Twitter and Reddit on Jun 24, 2022. 289 unique individuals are talking about Polymath and it is ranked #441 in most mentions and activity from collected posts.

Popular cryptocurrencies

A selection of cryptocurrencies in the top 50 by market cap.

Recently added

Comparable market cap

Of all the assets on Coinbase, these 8 are the closest to Polymath in market cap.

Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

Coinbase Bytes article