Polymath (POLY)

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Basics

  • DeFi assets
  • One of the largest securities token platforms in the world, (those designed explicitly to fit under current securities laws)
  • Founded in:
  • Mainnet release:
  • Based in:

History

Token

Launch

Token allocation

  • Is locking up approximately $9 million worth of its tokens for five years. (1-2019) Polymath raised $58.7 million using a simple agreement for future tokens in January 2018, according to a filing with the SEC.
  • According to Housser, 74 percent of the locked-up tokens (57 million) will come from those designated for the company and 26 percent (18 million) will come from those designated for the founders. Per the terms of POLY’s smart contract, tokens are released for use periodically through 2022, but the team is redirecting part of these to a new smart contract that will hold them until January 1, 2024.

Utility

  • Users spend POLY tokens on the Polymath platform during the process of launching new security tokens.

Token Details

Stablecoin

Tech

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].
  • Built on:
  • Programming language used:

Transaction Details

How it works

Staking

Interoperability

Other Details

Privacy Method being used

Oracle Method being used

Their Other Projects

Polymesh

  • Polymath first announced it was building the Polymesh blockchain in May 2019.
  • IOHK’s Charles Hoskinson and Polymath are teaming up to launch Polymesh, a regulation compliant security token platform; announced at Consensus (2019), the platform will be different from Polymath's security platform in its capital market focus. Charles will be Polymesh’s “co-architect,” according to a press statement.
  • The security token issuer has migrated (11-2019) its Polymesh blockchain away from Ethereum and onto Substrate, the platform developed by Ethereum co-founder Gavin Wood’s Parity Technologies. As part of the transition, Parity has agreed to build certain business-logic features on Polymesh’s base layer, including smart contract communication and runtime modules, said Parity Technologies chief commercial officer Björn Wagner.
  • From this CoinDesk article (20-11-2019):

"A major issue Dossa (from Polymath) pointed out was block reorgs, which are technically possible in PoW systems. In a block reorg, individual blocks containing transactions are rolled back to rescind a disputed transaction. However, ethereum has only experienced one reorg ever following the infamous DAO hack of 2016. “When a [Substrate] transaction is finalized, it cannot be undone,” he added.

How ethereum settles transactions through mining also came into consideration for Polymath, Dossa said. Since miners, who process and sign-off on transactions for a fee, can operate anywhere in the world, institutions could face government scrutiny if fees are traced back to a sanctioned country."

DEX

Governance

DAO

Upgrades

Roadmap

  • Can be found [Insert link here].

Audits

Bugs

Usage

  • The company says 75 tokens have been created using the platform so far. (1-2019)
  • Announced (7-2019) its plans to shut down two initiatives, which results in at least 10 layoffs; as part of the announcement, Ploymath clarified that it would continue its core work on Ethereum and its flagship Polymath Token Studio, which Polymath said had "enabled the creation of more than 130 security tokens". However, there are questions about demand, as it said only 12 of those tokens had "more than 5 token holders."

Projects that use or built on it

Competition

Coin Distribution

Pros and Cons

Pros

Cons

Team, Funding, Partnerships, etc.

Team

Funding

Partners 

  • Is partner with and client at Solidified "We help secure all releases of Polymath"
  • SeriesOne, a crowd-funding platform, and Polymath, a securities token protocol platform, are joining forces to launch a digital securities ecosystem