Polymath (POLY)

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Name Price Supply Volume Market Cap
polymath-network
Polymath Network
$0.037
499.92M POLY
$2.72M
$18.55M

TRENDING

Nothing earth shattering in the cryptosphere at the moment. Check back soon!

QUICK STATS

Self-contained Proof of Stake 
Upbit
Bittrex
Kucoin
Polymath seeks to create a new token standard, called ST20, that allows for the tokenization of securities. It is creating a platform that aims to provide a marketplace for the creation and trading of blockchain based financial products. Compared to the traditional initial public offering (IPO) process used in equity markets. Polymath hopes to use tokenisation to decrease the costs for organisations in issuing securities while allowing more investors to participate in offerings.
The Polymath platform will facilitate interactions between issuers, service providers (KYC providers and legal delegates), investors and developers.
Blockchain(BLX), Selfkey(KEY), BnkToTheFuture(BFT)

VIDEOS

BACKGROUND

Whitepaper Summary
Well written. The whitepaper takes the reader through a good introduction of the industry and historical developments and shortcomings of the past. It then seeks to apply their solution through various user stories and journeys. A well written paper.
Problem Solved
While recent token sales, or initial coin offerings (ICOs), have focused on payment tokens used to transfer value or utility tokens used to access goods or services on a platform, all tokens issued through Polymath will be securities (security tokens).

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.

Competitive Edge
Polymath describes its platform as a “one-stop-shop for securities token projects.”

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

Development Roadmap
No documented roadmap could be found. They do have regular “developer town halls” but nothing formally documented.

INITIAL COIN OFFERING (ICO)

According to SEC filings Polymath has raised $58.7 million. The project did not conduct a public token sale but instead relied on a private pre-sale combined with an airdrop to distribute tokens to the public.
Pre-sale investors were allocated 23% of the total supply (230.0 million POLY) with three bonus tiers.

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

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TEAM INFO

Creators / Founders
Trevor Koverko
Co-founder and CEO
CEO at Digital Assets International

Chris Housser
Co-founder and COO
Previously Associate at Bennett Best Burn LLP

Core Development Team
Sukhveer Sanghera
Lead engineer
Founder and engineer at Everhusk Inc
Notable Advisors
Steven Nerayoff
CEO & Founder at Alchemist

Patrick Byrne
CEO at Overstock

Stan Miroshnik
CEO & Managing Director at The Element Group

Erik Voorhees
CEO at Shapeshift

David A Johnstone
Chairman of the Board at Factom

Anthony Di Iorio
CEO & Founder at Jaxx and Decentral

Matt Roszak
Co-founder at Bloq

Gary Rubinoff
Managing Partner at Summerhill Venture Partners

Bruce Fenton
Founder at Satoshi Roundtable

Steve Dakh
CTO at Smartwallet

Robby Dermody
Co-founder at Counterparty

Michael Terpin
Founder and CEO at Transform Group

Simon Dixon
Founder at BnkToTheFuture

Liam Robertson
CEO at Alphabit Digital Currency

Notable Investors
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Trade Crypto Live Sentiment

Polymath isn’t exactly creating anything new from a technological stand point. They are copying Ethereum’s token generator and attempting to merge it with proper regulatory compliance. There is news that they are attempting to buy or partner with a stock exchange but will existing exchanges move towards Polymath when they can easily create their own security tokens on their internal private blockchains?

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.

Reference & Links
https://polymath.network/whitepaper.html
https://datafox.com/competitors/polymath-1
https://github.com/PolymathNetwork/polymath-token/blob/master/contracts/PolyDistribution.sol
https://www.sec.gov/Archives/edgar/data/1728099/000172809918000002/xslFormDX01/primary_doc.xml