What Is Polymath (POLY)?
Polymath is a decentralized Ethereum project built with the goal of making it easier to create and manage security tokens. The ST-20 Polymath standard (ERC1400) allows users to embed regulatory requirements into the tokens themselves to restrict trading to verified participants, simplifying the challenges of creating a security token. Over 220 tokens have been created using the Polymath platform (https://scout.cool/polymathnetwork/mainnet).
Who Founded Polymath?
Polymath was founded by Trevor Koverko. After starting his career at Wall Street and Silicon Valley, Trevor Koverko became involved in the blockchain community and financed projects such as Ethereum, EOS and Shapeshift. In 2017, Koverko co-founded Polymath. He is an investor at Lumenix, Royalty Exchange, ShapeShift and Block.one.
Polymath has team members and contributors worldwide and a growing list of over 50 service providers (https://polymath.network/service-providers)
How Many POLY Are There in Circulation?
Polymath was founded in 2017, and the Polymath platform was deployed on the Ethereum Mainnet on January 31, 2018. After successful platform launch, POLY was created to interact with the platform. 240,000,000 tokens were distributed during the launch. The max supply of POLY is 1 billion. 808,000,000 are currently circulating. 925,000,000 will be circulating by January 31, 2022. The team locked up the final 75m until January 2024. (https://blog.polymath.network/polymath-locks-up-75-million-poly-for-5-years-fc334d5978a4)
POLY is the utility token that is used to access the suite of smart contracts in order to create an ST20 token. Almost 100,000 wallets hold POLY (https://etherscan.io/token/0x9992ec3cf6a55b00978cddf2b27bc6882d88d1ec)
Polymath has built its own Proof-of-Stake blockchain called Polymesh, based on Parity Substrate. Polymesh is currently in testnet, with mainnet launching in 2021. ERC20 POLY holders may optionally upgrade their POLY on a 1:1 basis for POLYX. The only POLYX being created is those via the upgrade process and any created by the blockchain for Proof-of-Stake rewards (https://info.polymath.network/blog/introduction-to-polymesh-tokenomics). No additional POLYX is being created. Once Polymesh mainnet is live, the circulating supply of Ethereum based POLY will decrease by the amount that is swapped to Polymesh.
Where Can I Buy POLY?
POLY is available for trading on a growing number of exchanges, with cryptocurrency and stablecoin pairs currently available.
The largest markets are:
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