POLY- introduction details
Polymath is headquartered in Toronto, Canada and was established in 2016. Polymath is a security token issuance platform, which aims to use blockchain technology to launch compliant AML/KYC open source standards, and with the help of smart contract audits, to assist users in completing complex securities transaction legal procedures, and to efficiently and quickly create and Issue tokens. The platform agreement will embed financial regulatory requirements to provide compliance guarantees for token issuance, and at the same time help the team screen certified investors, connect to the developer market, and provide a one-stop solution for token issuance.
1. Project application
The standard protocol provided by Polymath can solve the problems of securities tokens that cannot be traded, cannot be supervised, have no interfaces (expensive) and no ecosystem (unable to get help), and create the world's first securities token community that is fast, convenient and low-cost. Polymath will enable virtual currencies to represent stocks in traditional financial assets such as private equity, stocks, commodities, venture capital funds and real estate.
Polymath will include four layers: one is the protocol layer transitioning from Ethereum-based smart contracts to Polymath's blockchain; the second is the application layer to easily create asset tokens for issuers; the third is the legal layer for legal tools and services; It is the exchange layer of liquidity.
2. POLY token
Polymath's platform token (POLY) can be used as the "fuel" of the platform to pay related fees to those who issue assets on the chain. Polymath provides a decentralized protocol for trading security tokens; enables individuals and institutions to verify their identity, residency and certification qualifications to participate in security token issuances (STOs); allows legal representatives to issue new issues in a regulatory manner Security tokens are issued by quotation; the issuer is matched with the developer, and the developer can convert the security token parameters of the issuer to generate ERC20 compatible tokens.
3. ST-20 agreement
In order to clarify the compliance of all security tokens it operates, Polymath has formulated the ST-20 protocol. The ST-20 protocol ensures the compliance of security token issuers and also ensures the technical security brought about by the smart contract framework on which the ST-20 protocol is based. In order to maintain compliance, Polymath cooperates with a number of law firms, most notably with the compliance platform Vertalo.