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Polymesh

Polymesh Performance

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₹31.25

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1.03%

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₹0.32

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1.03%

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₹31.24

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₹33.49

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What is Polymesh (POLYX)?

Polymesh (POLYX) was created with the aim to streamline the creation, issuance, and management of digital securities that adhere to global financial regulations. It is a permission blockchain created to revolutionize the way regulated assets are managed. The Polymesh platform is powered by its native and governance token POLYX, which fuels all the operations in the ecosystem. 

Who founded Polymesh (POLYX)?

Polymesh (POLYX) was founded by the Polymesh Association, its core members consist of Chris Housser, Adam Dossa, Graeme Moore, William Vaz-Jones, Robert Jakabosky, Francis O’Brien, and Nick Cafaro. 

Primary features of Polymesh (POLYX)

• PoS consensus mechanism: POLYX uses a proof of stake (PoS) consensus mechanism to secure its network which is more sustainable and eco-friendly. 

• Staking: Owing to its PoS system, POLYX token holders can stake their tokens to earn rewards. 

• Governance: POLYX token holders can participate in the network’s governance promoting decentralized decision-making and community-driven development.

• Regulatory compliance: The Polymesh network was designed to adhere to global financial regulations. It incorporates features such as identity verification and other compliance rules.

Is POLYX a promising cryptocurrency?

POLYX is the native currency of the Polymesh ecosystem, a layer 1 blockchain solutions provider. The token was launched by the Polymesh Association in October 2021. The token ranks 200 among the top cryptos by market cap. The token also ranks #252 in terms of trading volume, showcasing investor’s interest in the token. With a total supply of 1.07B tokens, POLYX hit an all-time high of $0.7547 in April 2024. As of July 2024, POLYX  has a market cap of $266.92M, indicating the token’s high value in the crypto market.

To invest in POLYX, download the CoinSwitch app.

How do I use POLYX?

• The token enables the creation and management of security tokens. 

• POLYX token holders can participate in the network governance.

• Token holders can also stake the token to secure the chain and earn additional rewards.

• All transactions within the Polymesh ecosystem are facilitated by the POLYX token.

Pros & Cons of Polymesh (POLYX)

Pros

• The Polymesh protocol and its native token POLYX were designed to meet regulatory requirements, making it suitable for security tokens.

• Its native token holders can participate in governance and also earn staking rewards. 

• The Polymesh ecosystem is designed for institutional investors, offering a seamless and trusted platform for asset management.

Cons

• As a specialized blockchain, Polymesh might have slower adoption compared to other blockchains.

• The token is subject to market volatility and its inherent impact on POLYX price.

• The success of Polymesh is dependent on the mainstream adoption of POLYX by institutional investors.

How to trade Polymesh (POLYX) on CoinSwitch?

• To trade Polymesh (POLYX) on CoinSwitch, first download the app. 

• Users can start trading in POLYX with just ₹100.

• CoinSwitch offers a secure and friendly environment for trading in cryptos like POLYX.

Polymesh (POLYX) ICO summary

The Initial Coin Offering (ICO) information of Polymesh is not available. POLYX has a maximum supply of 1 billion tokens, out of which around 924 million are currently in circulation. During its initial launch, 24% of the token was distributed during the presale and airdrop, around 51% belonged to the reserve supply, 2% is reserved for Polymesh’s advisors, 8.9% for Polymesh’s core team, and 0.9% for bonus.

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FAQ's on Polymesh

1. Is polymesh coin secure?

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Yes, Polymesh coin (POLYX) is considered secure. Polymesh is specifically designed for security tokens and uses a proof-of-stake blockchain to ensure secure asset management and transactions.

2. How fast are polymesh coin transactions?

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Polymesh coin transactions are processed instantly, enabling immediate settlement of transactions.

3. Has polymesh coin price undergone market correction?

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Yes, the Polymesh coin (POLYX) price has undergone market corrections. Price predictions and historical data indicate fluctuations, including predictions of a market correction in 2027 with prices dropping to record lows. Recent updates also show a significant price drop of 7.22% in the last 24 hours.

4. When was polymesh coin launched?

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The launch date of Polymesh coin (POLYX) is not explicitly provided in the search results. For specific information regarding the launch date, please refer to the official Polymesh website or trusted cryptocurrency sources.

Highlight

Polymesh (POLYX) is a layer 1 blockchain solutions provider that primarily focuses on security tokens and other regulated digital assets.

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Polymesh Price Statistics

POLYX Price Today

POLYX Price

₹31.25

Price Change 24h

percent_change_icon

1.03%

Price Change 7d

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11.35%

Market Rank

#255

Market Cap

₹2,724 Cr.

Trade Vol 24h

₹181 Cr

Circulating Supply

₹91 Cr. POLYX

Trading Activity

28% Buy72% Sell

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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