Trade POLY on Beaxy

With the aim of integrating stringent regulatory requirements into Smart Contracts, Polymath has created a global platform that issues and invests in Securities tokens. What this does is make the legal process of creating and selling Security Tokens. It also stresses and enforces compliance through the whitelisting of investors and the ETH wallet addresses. POLY, Polymath's coin, will be effectively used for payments on the exchange.

POLY profile

POLY Features

SECURITY TOKENS

Tokens created through Polymath allow for the verification of who can purchase and sell the tokens by Smart Contracts. Investors who are authorized and sanctioned by Polymath’s KYC providers are permitted to possess the token. This aims to ensure the elimination of fees linked with exchanges that are centralized, thus ensuring security compliance.

TRANSPARENCY

Polymath enlists the aid of government officials and lawyers at the very start of the creation of the coins. This does away with involvement from the regulatory body in the latter chapters of the process. This creates blockchains with greater legitimacy. The use of a template for creation is then made possible. This allows each token transparency and history that give investors an idea about what they are investing in.

COMPREHENSIVE SECURITY

The platform provides comprehensive security for all its users. Through its white label solution, Polymath's technology can be fused into the broker-dealers can own a platform that ultimately protects their client's tokens. Through Polymath's Token Studio, issuers are allowed to configure, issue, and manage their tokens in a single venue.

ETHEREUM-COMPATIBLE

Given that POLY is an ERC20 token within the Ethereum blockchain, a user needs to enlist the service of a wallet compatible with such tokens. Also among the best picks are the hard wallet issued by the ledger and ETH's MyEtherWallet. These are sound choices as these establish control of private keys, backed by an active development community, and have backup security features.

Frequently Asked Questions

POLY Technology

Polymath makes use of the ST-20 token standard. Through this, strict compliance with government regulations is placed in full effect. The platform zeroes-in on KYC, AML, and other legal entities to ascertain their adherence to the law. Polymath may be likened to Ethereum, only it offers equity within a company, not create utility tokens.
At present, the POLY token has a total supply of 1,000,000,000. The total coins in circulation are at 514,270,098 POLY. The price of the coin had peaked to $1.59 in early 2018.
The altcoin was created through Proof of Stake (POS). While it had been mentioned earlier that POLY is created based on the ST-20 token standard, it is still staked, meaning it is credited as an ERC-20 coin within the Ethereum blockchain. Furthermore, the security offerings are automatically enabled; the native token IS a utility token.
The following information details POLY's features:
Polymath has built for itself a solid blockchain ecosystem. What this serves to do is to fortify the system’s security. While this is the case, the POLY Token allows its clients to make interaction with the blockchain smart contract protocol. Companies who issue the token are required to pay a specific fee to create and disseminate their Securities through Polymath.
Polymath boasts of 4 layers in its blockchain: PROTOCOL This layer is the smart-contract segment of the blockchain. Here, all the terms are built-in. APPLICATION This is the part wherein the security tokens are created. LEGAL This is the segment for network governance. Accredited lawyers make use of the templates created in this layer. EXCHANGE This part works pretty much like Bitcoin's own digital ledger.
Transactions that are to be administered through Polymath entail the participation of three (3) important entities: INVESTORS For verification and transaction fees, they pay POLY for KYC/AML DEVELOPERS By keeping the network secured and constantly updated, they receive POLYs. ISSUERS In order to create and issue securities tokens, these individuals pay POLY.
To reiterate, Polymath is focused on securities tokens. What this tells us is that the exchange is full-stack. More so, it is tailored in such a way that just about anyone, laymen, and expert alike can use the system to issue Securities.
Polymath makes use of a decentralized model through a digital ledger. It is a one-stop-shop for all securities. It is useful even outside the confines of the blockchain, even for Wall Street.
Shopping for delegates happens after the creation of a token. This should be done through due diligence and shopping for price. Fees are then paid to the lawyer so that legal documents would be prepared for SEC registration and other regulators to establish due compliance.
Just about in any platform, selling security tokens with Polymath is not that simple. Investors who are accredited and authorized are the only ones that can own tokens. The reason behind it is that it is fully integrated into the smart contract.
POLY utility tokens may also be used to purchase services and administer transactions. And while it had been said that investors are the only ones who can use POLY to buy security tokens, it is also true that anyone can buy POLY through ERC-20 marketplaces.

How to Mine POLY?

Earlier, the total supply of the altcoin, POLY had been disclosed to amount to a flat 1,000,000,000. From this, Polymath airdropped a total of 240,000,000 POLY to its users who were registered back on January 10th, 2018. The supply that had remained from the aforementioned 1 billion can no longer be mined.
Despite this, the cryptocurrency market records $4 million worth of POLY traded daily through the support of the exchanges discussed in an earlier segment.

Risks of Trading POLY

At present, Polymath is veering away from general-purpose blockchains. This is so as it recognizes that the goals of such are to cover as many use-cases that these can. This is owed to the fact that financial institutions are vastly different from other industry customers. These customers are risk-averse and need transparency for stricter compliance to regulations. But does this mean that market participant confidentiality is out the window? Not at all. The fact of the matter is, sensitive data remains private even upon audit.
What this suggests is that Polymath had done its best to protect its users from potential losses that would impede their development as cryptocurrency traders. However, the matter stands that Polymath cannot easily shield all their users from all risks that are almost endemic to trading cryptocurrencies: POLY SUPPLY It had been discussed earlier that the POLY supply not in circulation can no longer be mined. As this is the case, further profits from trading POLY may be curtailed. CURRENT VALUE While it is true that the value of cryptocurrencies may fluctuate toward the better, it can also be observed that the value behavior of the coin took a dive from its peak. The value when placed beside the USD ($0.049825), BTC 0.00000509, and ETH 0.00020336 (-2.80%) are apparently low (as of 7:27AM GMT, June 10 2020). MARKET COMPETITION With relation to POLY's current value touched above and in addition to the new wallets that it is made compatible with it, it is apparent that the coin will get more competition. And if POLY's market value does not get any better, the possible competition will get the upper hand.

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