Polymath Price

Polymath is a security token platform that uses the ST-20 token standard to ensure regulatory compliance with securities laws when issuing digital securities.

POLY is the protocol's native token. POLY tokens are ERC-20 utility tokens, which are spent and earned during smart contract creation, issuance, and legal validation.

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What Is Polymath

The Polymath Network is an Ethereum-based network that facilitates the creation of security tokens, digital forms of traditional securities that live on a blockchain. Security tokens could represent ownership of a fraction of any valuable asset, like a car, real estate, or corporate stock. 

Polymath brings Wall street to the Crypto world, simplifying the process of getting into the securities market for users. The Polymath network is used to issue, create, and manage the digital security tokens on the blockchain. Polymath users create and issue securities tokens in the form of ST-20/ERC-1400 tokens, a token standard built by Polymath developers and constituted as the unified standard for security tokens.

So far, over 200 tokens have been deployed using Polymath’s Ethereum-based solution. However, the research revealed the need for a blockchain built from scratch with the consideration of specific requirements of securities regulations. Polymath addresses infrastructural inadequacies present in previous blockchains with Polymesh, an enterprise-grade specialized blockchain built for security tokens.

Poly is the native coin of the Polymath network. POLY is an ERC-20 token used to pay gas fees while issuing security tokens. POLY is also used for the network’s additional services like legal advice, assistance in token sales, custodial solutions, and providing KYC and AML regulatory services.

Polymath Founders

Chris Housser and Trever Koverko founded Polymath in 2017.

Here is Chris Housser's statement about the founding vision behind Polymath: “We wanted to make it easy to unlock the blockchain to tokenize and trade traditional and new classes of assets. We’re dramatically lowering the barriers and also provide security tokens to issuers effortlessly.” 

Chris Housser is currently the Head of Strategy for Polymesh; an institutional-grade permissioned blockchain specifically built for regulated assets. He is also the Lead Contributor to the Polymesh Association, formed in October 2021.

Trever Koverko is a Canadian-based entrepreneur. He is a graduate of the University of Western Ontario.

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

The Polymath network raised nearly $59 million through an initial coin offering (ICO) in January 2018.

 

The Polymath Network is funded by George Burke, an individual investor and Fintech executive who has invested in over 53 companies. He is currently the chief marketing officer at the founder's pool. Polymath has a growing list of over 50 global service providers.

How Does Polymath Work

The Polymath network runs on a Proof-of-Stake consensus mechanism, which empowers users to validate new blocks based on their investment history on the blockchain.

The Proof-of-Stake mechanism is controlled by two groups of Polymath network users: 

1. Validators 
2. Nominators. 

Validators are the big stakers with robust investment history on the blockchain. They are the ones who are up for nomination to validate a new transaction block, earning rewards in the process.

Nominators are the small stakers tasked with selecting validators up for nominations. Nominators' stakes are distributed amongst validators, and they earn a percentage of the block rewards validators earn.

The relationship between validators and nominators keeps the Polymath blockchain running.

How to Buy Polymath POLY Coin

You can buy Polymath's native protocol token (Poly) on several centralized and decentralized exchanges in the crypto market. Major exchanges to buy Poly tokens are Coinbase, Binance, and Upbit.

US residents can buy POLY on Binance.US.

You'll need to compare exchanges to choose one that supports POLY and has the features you're looking for, such as an easy-to-use platform, low transaction fees, 24-hour customer service, etc. When purchasing Poly tokens, consider if the cryptocurrency exchange supports fiat currency and your preferred payment methods, such as a credit or debit card, another cryptocurrency, or a bank transfer.

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