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Polymath Coin is the native cryptocurrency of Polymath, a global platform designed to launch security tokens and enable investments in them. Polymath’s Blockchain security token standard aims to integrate necessary regulatory requirements into smart contracts and ensure compliance.
The project simplifies the legal process of creating and selling security tokens. It introduces a new token standard (ST20) and enforces compliance by whitelisting authorized investors and Ethereum wallet addresses.
POLY tokens are used for payments on the platform, facilitating exchanges between issuers, investors, service providers, and developers.
What is Polymath (POLY)?
Polymath (POLY) is a platform that simplifies the creation, launch, and management of digital securities on the blockchain. Aiming to lead the security token revolution, Polymath states that 196 tokens are currently on the market.
Using Polymath’s Ethereum-based solution, over 200 tokens have been distributed, and work is currently underway on Polymesh, an enterprise-level Blockchain specifically designed for regulated assets. Polymath aims to simplify old processes and open the door to new financial instruments by solving public infrastructure challenges related to identity, compliance, privacy, and governance.
Polymath lists the following as assets that can be tokenized:
- Traditional liquid assets: Public equity, bonds, debt
- Traditionally illiquid assets: Real estate, artwork, intellectual property rights, synthetic assets, other tangible and intangible assets.
According to the platform, security tokens contribute to more efficient resource creation and transactions by removing traditional intermediaries, and integrating corporate actions like voting or dividends. Digital securities also offer 24/7 market access, allowing users to trade without missing price advantages.
Additionally, the platform uses ERC1400 for the token creation process, emerging due to the need for consistency. ERC1400 combines new and existing standards to create a unified framework for all security tokens.
POLY, founded by Trevor Koverko and Chris Housser, was established in 2017, with its first smart contract created on Ethereum in January 2018.
POLY Coin Review
POLY, in the market since 2017, is considered reliable due to its relatively long-term performance. Investors generally hold positive views, especially noting its growth during certain periods in 2018 and 2019.
Moreover, Polymath Coin is thought to be promising, particularly due to the platform behind it.
For a clearer understanding of POLY Coin price predictions, current figures are insightful. At the time of this article, Polymath (POLY) trades at $0.0573 against USD and 0.00000356 BTC. It’s also worth noting that like many coins, POLY hit its lowest at $0.0107 on March 13, 2020, and its record high of $1.66 on February 19, 2019.
Additionally, according to CoinMarketCap, POLY Coin ranks 185th in market capitalization, with a market value of $30,656,673 USD. Currently, 535,000,099 POLY are in circulation.
How to Buy Polymath Coin?
POLY coin can be purchased through Binance, the largest cryptocurrency trading platform by market volume. Polymath, which had the opportunity to be listed on Binance following the 8th round of Binance Community Coin of the Month, met with exchange users on July 31, 2018.
Additionally, POLY coin is available on Binance with POLY/BTC and POLY/BNB trading pairs.
