There are are over 1500 cryptocurrencies on the market as of June 2018. In this context, it would seem as if creating tokens and cryptocurrencies has become fairly easy. But this isn’t the case - the process is still technical and requires some expertise. Especially since many of them are categorised as ‘securities’ and subject to government regulations.
To create a token, the issuer has to provide a comprehensive list of details and information to the platform - this includes:
This information is collected and processed, after which legal confirmation is given if all the parameters are in order. This process costs fees, but the token issuer receives them in the form of bids, allowing them to pick the lawyers they’d like to work with.
This is where the POLY token comes in. These payments are made using the POLY cryptocurrency to a smart contract, and work begins on document and information sharing to bring the token to life.
The POLY token can be traded on Kucoin, Huobi, Upbit and a couple of other exchanges. However, it makes more sense to pick an aggregated offering like CoinSwitch to transact POLY.
Polymath may be championing a new kind of token protocol, but it is itself an ERC20 token. This means it can be stored on most popular wallets - such as the online service MyEtherWallet, or for desktop applications - check out Parity, and imToken.
The POLY token started trading at $0.789, but quickly peaked at more than twice that value - $1.64. It has since then survived the bearish trends of the cryptocurrency market in 2018, and trades in at around $0.4 as of June 2018.
Also Read: Complete Analysis of Polymath | Live Polymath (POLY) Price Charts And Predictions
Date |
Open* |
High |
Low |
Close** |
Volume |
Market Cap |
Jun 01, 2018 |
0.753766 |
0.753766 |
0.687725 |
0.713226 |
3,827,920 |
208,356,000 |
May 01, 2018 |
0.526801 |
0.576762 |
0.498230 |
0.575464 |
4,036,160 |
126,432,000 |
Mar 01, 2018 |
1.06 |
1.15 |
0.997542 |
1.03 |
2,033,340 |
253,846,000 |
Feb 02, 2018 |
0.790528 |
1.28 |
0.547151 |
0.879497 |
1,023,190 |
The supply of POLY tokens is capped at one billion, 240 million of which were delivered to users in an Airdrop in January 2018. The remaining have been held by the Polymath team for use in the future - a roadmap that they’ve been on track with, including launching the first Polymath-based securities for their customers.
The Polymath team has been fairly active on the partnerships front, having connected with multiple important brands that are adding value to its offerings. There are multiple partners onboard for the KYC processes - including, IdentityMind, SelfKey, and BnkToTheFuture.
Blockchain startup tZERO’s ICO came to fruition thanks to assistance form Polymath, allowing them to raise $100 million in just 12 hours.
Important firms - such as Ethereum Capital, and SeriesX also intend to issue securities via Polymath’s platform.
Polymath is quite unlike most cryptocurrencies in the market today. While major cryptocurrencies such as Bitcoin serve as a store of value, or Ethereum serve as a fuel for world computing, Polymath serves the dual purpose of:
The value add here is distinct from many other cryptocurrencies, which means Polymath shouldn’t have to worry about competition as much as the many other coins of.
Q. What is Polymath?
A. Polymath is a four-layer blockchain which includes investors, securities issuers, and developers to ensure full AML/KYC compliance for issuing financial securities.
Q. How to buy Polymath (POLY)?/ Where to buy polymath?
A. You can buy Polymath at the best rate from CoinSwitch.