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Polymath plans to offer a blockchain based issuance and trading system that allows organizations to create tokens and engage service providers. Investors will be able to participate in securities token offerings (STOs) and trade their tokens on a secondary market.
The platform is built with all of the following features in mind:
Collaboration: An active global community.
Regulatory: Polymath will provide compliance in a box.
Creation: Launch a securities token (ST) in minutes.
Fuel: The network is fuelled by the PLY token.
Liquidity: Polymath aims to be the world’s first ST-only exchange
INITIAL COIN OFFERING (ICO)
The first tier included 3.9% of supply (39.0 million POLY) to be released on Jan. 31, 2019, the second tier was for 0.94% of supply (9.4 million POLY) to be released on Jan. 31, 2020, and the third tier was for 2.8% of supply (2.8 million POLY) to be released on Jan. 31, 2021.
The founding team received 15% of supply (150.0 million POLY) of which 50 million will be released each year starting on Jan. 31, 2019. Advisors received 2.0% of total supply (20.0 million POLY) which will be released on Aug. 31, 2018.
Polymath holds a reserve of 513.0 million tokens of which 6.8% will be released every 100 days over a period of four years starting May 11, 2018.
The remaining 1% of supply (10.0 million POLY) was distributed through an airdrop on Jan. 31, 2018
Creators / Founders
Co-founder and CEO
CEO at Digital Assets International
Co-founder and COO
Previously Associate at Bennett Best Burn LLP
Core Development Team
Founder and engineer at Everhusk Inc
CEO & Founder at Alchemist
CEO at Overstock
CEO & Managing Director at The Element Group
CEO at Shapeshift
David A Johnstone
Chairman of the Board at Factom
Anthony Di Iorio
CEO & Founder at Jaxx and Decentral
Co-founder at Bloq
Managing Partner at Summerhill Venture Partners
Founder at Satoshi Roundtable
CTO at Smartwallet
Co-founder at Counterparty
Founder and CEO at Transform Group
Founder at BnkToTheFuture
CEO at Alphabit Digital Currency
Trade Crypto Live Sentiment
Additionally by only having a private presale, they have likely locked many of their investors for longer timeframes when compared to most ICO’s . This will have an effect of lowering velocity which is significant as there are no short-term plans of listing this on any crypto exchanges.
POLY hinges on adoption and how stock exchanges and existing funds view the importance of another platform; especially on built off the back of Ethereum.
TCL is watching POLY but until the market structure develops and the fundamentals can prove themselves, it is simply another one to watch.
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