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 a compliant AML/KYC open source standard. With the help of smart contract auditing, it assists users in completing the complex legal process of securities transactions, and efficiently and quickly creates and Issue tokens. Financial regulatory requirements will be embedded in the platform agreement to provide compliance guarantees for token issuance. At the same time, it can 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 that security tokens cannot be traded, cannot be supervised, have no interface (expensive) and no ecosystem (cannot get help), creating the world's first security token community that is fast, convenient and low-cost . Polymath will enable virtual coins to represent equity 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 transition from Ethereum-based smart contracts to Polymath's blockchain, the other is the application layer for issuers to easily create asset tokens, and the third is the legalization of legal tools and services layer, and the fourth is the fluid exchange layer.

2. POLYX Token

Polymath's platform token (POLYX) can be used as the "fuel" of the platform to pay for 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 accreditation to participate in Security Token Offerings (STOs); Security tokens are quoted and issued; the issuer is matched with the developer, and the developer can convert the issuer's security token parameters into an ERC20-compatible token.

POLY is upgraded to POLYX at a ratio of 1:1 (i.e. 1,000 POLY = 1,000 POLYX)

3. ST-20 Agreement

In order to clarify the compliance of all security tokens it operates, Polymath has developed the ST-20 protocol for this purpose. The ST-20 protocol ensures the compliance of security token issuers while also ensuring the technical security brought about by the smart contract framework on which the ST-20 protocol is based. To maintain compliance, Polymath works with several law firms, most notably with compliance platform Vertalo.

Related links:
https://bihu.com/article/1614858
https://polymath.network/polymesh