
Trade POLY on Beaxy

POLY Features


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?
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
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.