Polymath

POLYX

Identity

Polymesh

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>POLY is an ERC-20 token that aims to facilitate the creation and management of security tokens on the Polymath platform.</a> </li> 
 <li> <span>2</span> <a>Polymath operates by providing a platform for the creation, issuance, and management of security tokens.</a> </li> 
 <li> <span>3</span> <a>Polymesh is a blockchain that is designed for regulating assets and meeting the regulatory requirements of capital markets.</a> </li> 
</ul> 
<p>Polymath (POLY) is a unique cryptocurrency that provides the technology to create, issue, and manage security tokens on the blockchain. It aims to eliminate outdated processes and introduce new financial instruments by resolving the challenges associated with public infrastructure. This includes information such as identity, compliance, confidentiality, governance, and settlement.</p> 
<p><a href="https://www.thecoinrepublic.com/2024/01/06/celsius-price-in-extended-downtrend-can-bulls-make-a-comeback/" target="_blank" rel="noreferrer noopener">Polymath</a> has developed Polymesh. It is a blockchain designed for regulating assets to meet the regulatory environment of capital markets.&nbsp;</p> 
<p>POLY is the utility token for Polymath and it powers the Polymath Token Studio on Ethereum. Issuers used this for creating and managing security tokens on the platform.</p> 
<p>The objective behind the foundation of Polymath was to make it easy for everyone or anyone to launch a security token. A challenge was observed while trying to tokenize a private fund, which gave birth to the idea of Polymath.</p> 
<p>It revealed the legal and technical complexities of launching securities on the blockchain. Since its inception, Polymath has grown to include team members and contributions worldwide. It has a growing list of over 50 global service providers.</p> 
<p>After the launch of the platform, POLY was created as the native token. It was created to be used to interact with the platform. It was present in around 10,000 wallets holding 240,000,000 tokens distributed during the launch.</p> 
<h2 class="wp-block-heading" id="strong-architecture-of-polymath-strong"><strong>Architecture of Polymath</strong></h2> 
<h3 class="wp-block-heading" id="strong-financial-primitives-strong"><strong>Financial Primitives</strong></h3> 
<p>In Polymesh, financial primitives are built into the foundation of the chain. Polymesh financial primitives enable users to operate the blockchain with predetermined costs while allowing third-party developers to deploy innovative decentralized applications on top of the chain.</p> 
<h3 class="wp-block-heading" id="strong-regulated-assets-strong"><strong>Regulated Assets</strong></h3> 
<p>Regulated assets are the cornerstone of Polymesh. It created the ERC-1400 standard to help resolve the challenge of open, transparent, and globally accessible systems with jurisdictional compliance.</p> 
<h3 class="wp-block-heading" id="strong-identity-strong"><strong>Identity</strong></h3> 
<p>Identity is critical to every action with regulated securities. All actions on the chain are mediated through an identity rather than through a simple public key like most blockchains.</p> 
<h3 class="wp-block-heading" id="strong-record-keeping-strong"><strong>Record Keeping</strong></h3> 
<p>The Polymesh blockchain captures all primary and secondary transfers of security tokens, allowing ownership data about those tokens to be trustlessly captured on-chain while reducing information asymmetry between the issuers and tokenholders.</p> 
<h3 class="wp-block-heading" id="strong-capital-distribution-strong"><strong>Capital Distribution</strong></h3> 
<p>Polymesh allows issuers to distribute cash flows associated with assets. This is done by capturing ownership at fixed points in time. Issuers can determine the recipients of the distribution based on their identity or other criteria.</p> 
<h3 class="wp-block-heading" id="strong-corporate-governance-strong"><strong>Corporate Governance&nbsp;</strong></h3> 
<p>This allows issuers to leverage the power of the public blockchain to combine transparency with techniques that allow token holders to vote on the issuer’s corporate actions with privacy while mitigating incentives to manipulate voting.</p> 
<h3 class="wp-block-heading" id="strong-stablecoins-strong"><strong>Stablecoins</strong></h3> 
<p>In addition to security tokens, Polymesh supports stablecoins to facilitate activity on-chain like cash distributions, at a fraction of the traditional costs. Stablecoins on Polymesh can be pegged to any currency, and licensed and capitalized third-parties issue them.</p> 
<h3 class="wp-block-heading" id="strong-economies-strong"><strong>Economies</strong></h3> 
<p>The consensus mechanism for Polymesh is nominated proof-of-stake. To power Polymesh’s enabling economy, validators and nominators work together. Staking within the network and acting according to the consensus rules is done.&nbsp;</p> 
<p><strong>Validators</strong> are permissionless entities, regulated in their respective jurisdictions, that run authoring nodes that keep the blockchain secure and operational at all times.</p> 
<p><strong>Nominators</strong> select and stake validators as their signal of trust. Their stake is distributed across their selected validators using an algorithm that aims to distribute all the staked POLYX.</p> 
<p><strong>Validators</strong> equally share the block rewards; the only condition is that validators should follow all the protocol rules.</p> 
<p>The amount of time POLYX is locked in following a validator or nominee withdrawal request is known as the <strong>Bonding Period</strong>. After the request is made, staked POLYX will lapse, completing the bonding period.</p> 
<h3 class="wp-block-heading" id="strong-finality-strong"><strong>Finality</strong></h3> 
<p>The nominated<a href="https://www.thecoinrepublic.com/2024/01/06/celsius-price-in-extended-downtrend-can-bulls-make-a-comeback/" target="_blank" rel="noreferrer noopener"> proof-of-stake (PoS)</a> consensus mechanism offers deterministic finality that can be instantly trusted. If validators vote in favor of a block, it is finalized. A shared characteristic of blockchains is that every new block contains details of all the previous blocks, and if a block is finalized, all its previous blocks are also finalized.</p> 
<p>It allows finalizing a batch of blocks in one vote rather than having to vote on every block.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="735" height="474" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-132.png" alt="Architecture of Polymath and Transmission of POLY to POLYX" class="wp-image-187196" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-132.png 735w, https://www.thecoinrepublic.com/wp-content/uploads/2024/01/image-132-300x193.png 300w" sizes="(max-width: 735px) 100vw, 735px">
 </figure>
</div> 
<h2 class="wp-block-heading" id="strong-internal-economy-strong"><strong>Internal Economy</strong></h2> 
<p>The objective of providing absolute finality drives the internal economy of Polymesh. It incentivizes the correct production of blocks and builds a sustainable and secure network.</p> 
<p>Polymesh’s network reserve is funded through: direct transfer from Polymath’s reserve currently held on Ethereum, which unlocks over time; protocol usage fees; and network transaction fees.</p> 
<h2 class="wp-block-heading" id="strong-enabled-economy-strong"><strong>Enabled Economy</strong></h2> 
<p>The POLYX fees at the core of Polymesh need to protect against denial-of-service (DoS) or spam attacks, as well as reward developers or organizations that build on Polymesh with additional customized functionality.</p> 
<p>There are three classes of POLYX fees that the originator of the transaction pays:</p> 
<h3 class="wp-block-heading" id="strong-transaction-fees-strong"><strong>Transaction fees</strong></h3> 
<p>These are the basic DoS protection mechanisms; basically, they are a function of the size and complexity of a transaction.</p> 
<h3 class="wp-block-heading" id="strong-module-fees-strong"><strong>Module fees</strong></h3> 
<p>These are fees paid for specific actions on the network, like issuing a new security token or dividend.</p> 
<h3 class="wp-block-heading" id="strong-smart-extension-fees-strong"><strong>Smart Extension fees</strong></h3> 
<p>These are fees paid for third-party smart extensions found in the smart extension marketplace and are by third-party developers.</p> 
<h3 class="wp-block-heading" id="strong-token-strong"><strong>Token</strong></h3> 
<p>POLY is the ERC-20 native protocol token. It has a total supply of 1 billion tokens. It is assumed that the majority of POLY will be converted to POLYX. The total supply of POLYX will be uncapped. The supply of POLYX will be increasing to fund block rewards.</p> 
<p>POLYX is created to be used on the Polymesh chain, supporting the platform and serving the system in ways that include fueling and enabling the economy, increasing system value creation, preventing spam, paying grants for projects, and managing upgrade governance.</p> 
<h4 class="wp-block-heading"><strong>Conclusion: POLY to POLYX upgrade</strong></h4> 
<p>For at least one year from the launch of the Polymesh mainnet, there will be a bridge to upgrade POLY to POLYX. POLY token holders will upgrade to POLYX tokens at a 1:1 rate. A significant amount of the POLY reserve will also migrate to the same bridge. It will require a validated identity to transact with POLYX tokens.</p> 
<h4 class="wp-block-heading"><strong>FAQs</strong></h4> 
<p><strong>Where can a user buy Polymath?</strong></p> 
<p>POLY tokens are traded on both DEX and CEX. The most popular exchange is Uniswap V3, and other exchanges include Indodax and Energiswap.</p> 
<p><strong>Which is the most active trading pair?</strong></p> 
<p>The most active trading pair involving POLY is POLY/WETH.</p> 
<p><strong>What are the other assets similar to Polymath?</strong></p> 
<p>Assets that have similar market caps include Baby Doge Coin, Ribbon Finance, Liquidity USD, and many others.</p>

Architecture of Polymath and Transmission of POLY to POLYX

Table of Contents

Thecoinrepublic.com

Other articles published on Jan 7, 2024

Microsoft’s Dee Templeton Joins OpenAI Board as Non-Voting Observer

Russia announces 30 new member countries for BRICS

Iran Joins BRICS In Plot To Permanently Dethrone The US Dollar

Zengo Wallet Launches Unique Security Challenge with 10 Bitcoin Prize

Another Hack Hits CoinsPaid, $7.5 Million Lost in Second Breach in Six Months

Bitcoin volatility narrows ahead of key ETF decision

Join our free newsletter for daily crypto updates!