Preis (Polymath) (POLY)

What Is Polymath (POLY)?

Polymath is a decentralized platform built with the goal of making it easier to create and manage security tokens. The ST-20 Polymath standard embeds regulatory requirements into the tokens themselves and restricts trading to verified participants only, simplifying the challenges of creating a security token.

Polymath was founded in 2017, and the first POLY tokens, as well as the Polymath platform itself were deployed on the Ethereum Mainnet on January 31, 2018. 1 billion POLY were initially created with 240,000,000 tokens distributed during the launch.

Who Are the Founders of Polymath?

Polymath was founded by Trevor Koverko and Chris Housser.

After starting his career at Wall Street and Silicon Valley, Trevor Koverko became involved in the blockchain community and financed projects such as Ethereum, EOS and Shapeshift. In 2017, Koverko co-founded Polymath. He is an investor at Lumenix, Royalty Exchange, ShapeShift and Block.one.

Chris Housser began his career as an infantry soldier with the Canadian Armed Forces. Before Polymath, Housser worked as an associate at Bennett Best Burn LLP.

What Makes Polymath Unique?

Bitcoin, Ethereum and other major cryptocurrencies are typically application or utility tokens that are unregulated and operate on decentralized networks. Security tokens, on the other hand, are more similar to traditional assets, such as stocks.

Polymath wants to boost the security token market by introducing the ST-20 standard that offers nearly instantaneous transactions and operating a 24/7 low-fee trading environment.

The platform has several layers associated with it, including a protocol layer, an application layer and a legal layer, all of which ensure that security tokens remain fully compliant. These layers are intended to reduce the legal complexity surrounding security tokens and minimize the fees.

Polymath uses the POLY token to power its network. It also offers templates which can be utilized to create security tokens quickly and easily through the use of smart contracts.

All of the payments that occur on the Polymath network require POLY, which is an ERC-20 token. Issuers can post a bounty in POLY tokens in order to encourage legal delegates and developers to bid on providing services. Developers earn POLY for creating STO smart contracts. KYC providers can pay in POLY in order to join the network and earn POLY by verifying investors.

Investors also have to pay KYC providers in POLY tokens in order to participate, and the legal delegates earn POLY through being selected to issue a new security token.

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How Many Polymath (POLY) Coins Are There in Circulation?

Polymath (POLY) has a circulating supply of 586,263,172 POLY as of February 2021. There is no maximum supply data available at the time.

How Is the Polymath Network Secured?

POLY is an ERC-20 token on the Ethereum blockchain and is issued via a proof-of-stake consensus. Polymath also created the ST-20 standard. The Polymath protocol verifies each cryptocurrency wallet and ensures that only authorized investors that meet the criteria for each security offering are able to transact with each particular security token.

Due to the fact that it is an ERC-20 utility token, POLY is supported by all Ethereum-compatible wallets, including the hardware ones.

Where Can You Buy Polymath (POLY)?

If you are interested in buying, trading or selling Polymath, you can do so on the following exchanges:

• Binance
• Huobi Global
• Upbit
• HitBTC
• CoinBene

If you are interested in learning how to purchase Bitcoin, you can learn more in our guide.