Polymath the ICO tokens
Polymath was founded in 2017 by Trevor Koverko and Chris Housser. Polymath was founded while searching for a solution to tokenize a private fund. During this process, it became clear that complex technical and legal challenges made it very difficult to launch securities on the blockchain. This led to a much larger vision: instead of launching just one tokenized micro fund, why not make it easy for anyone to launch a security token? With this idea, Polymath was born. Polymath has team members and contributors worldwide and a growing list of over 50 global service providers.
Polymath (POLY) is creating a global platform for issuing and investing securities tokens. It is built on top of the Ethereum Blockchain. It aims to simplify the process of creating and selling security tokens by integrating the necessary legal requirements directly into smart contracts. It also established a new token standard called ST20.
Security token sales have to be in compliance with US financial regulations, some of the strictest in the world. Issuers can use the platform to register the sale with the US Security and Exchange Commission and file relevant legal documents. Investors need to file AML(Anti Money Laundering) and KYC (Know Your Customer) checks before participating in sales. AML is a series of measures and procedures carried out by financial institutions and other regulated entities to prevent financial crime. KYC is the process of obtaining information about the customer and verifying their identity.
Polymath token provides interfaces for asset issuers to create and manage their ST20 security tokens as well as providing access to a MarketPlace of over 40 partner companies that provide services across many categories including legal, marketing, distribution, and KYC.
The token platform involves three layers: an application layer, a legal layer, and the protocol layer to ensure your token is compliant and stays compliant. These layers aim to reduce the legal complexity and ambiguity surrounding securities while also minimizing fees and improving the liquidity of assets.
The application layer consists of the security token, Marketplace issuing smart wizard, and service providers. The legal layers consist of global regulation templates, crowdsource delegates and kick AML verification. The protocol layer consists of a decentralized exchange, state-of-the-art security and baked-in compliance.
Poly tokens are used for launching new tokens: an issuer creates a smart contract with the parameter of their offering, including total supply equity or other rights attached to the price. Governance details have bounties by issuers to incentivize bidding from legal delegates and developers. Developers will earn Poly for creating security tokens offering contracts to KYC. Providers will be required to pay Poly to join the network. Poly functions are collateral to ensure providers are incentivized to do good work.
Investors will pay Poly to become verified by various regulatory third parties. Developers can bid to provide new implementation or review services directly through the platform and will be paid in Poly.
Polymath is a cryptocurrency project that wants to offer a method for traditional investment assets to be tokenized and tradable in a manner somewhat similar to other blockchain assets. The goal of the project is to eventually have an ecosystem and protocol where verified investors can purchase and trade tokenized securities that are equivalent to other types of investments like stocks, equity, and venture capital funding.
Polymath built Polymesh, an institutional-grade blockchain built specifically for regulated assets. Polymesh Mainnet launched on 28 October 2021, ERC20 POLY holders may optionally upgrade their POLY on a 1:1 basis for Polymesh (POLYX).
Polymath (POLY) can be purchased at those big exchanges:
1. CoinBase- this is one of the most popular platforms because it is easy to use on your phone or tablet and is available in most countries. On CoinBase you will also find many of the top 100 coins. CoinBase will send email confirmations for another layer of security if you are using PC. CoinBase also can be login using your phone. When you join CoinBase you can get AUD 13.84 in free Bitcoin when you buy or sell AUD 138.41 or more, by using the above link.
After your purchase, if you would like to store the coins in offline devices for safety you can use Ledger
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For the Aussies: Coinstash is an Australian crypto exchange based in Brisbane. New users can get $10 free on signup using this link
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