The Polymath Network is a decentralized platform that aids companies and businesses in releasing their tokens through security token offerings (STOs).
With barely two months remaining for 2018, many from the community—including a number of executives from cryptocurrency-related companies—have called 2019 as the year STOs (security token offerings) outnumbered ICOs (initial coin offerings).
Should it really be the time for STOs to shine, then so should the Polymath Network, as its Polymath token (POLY) has topped trending charts recently.
Polymath is a decentralized platform that aids businesses and corporations in hurdling through different regulatory requirements before launching their own security tokens—the digitized version of the traditional shares.
Do you want to learn how to create a security token?
Sign up to our webinar! Thomas Borrel, Polymath's Chief Product Officer, will walk you through registering a token symbol, token creation, and more!
— Polymath (@PolymathNetwork) October 23, 2018
Similar to how the Ethereum network made launching ICOs accessible to everyone, the Polymath Network aims to be the bridge closing the gap between the financial world and blockchain technology.
Trevor Koverko, Polymath CEO, explained further.
“We’re open source distributed, and it’s very important for me having it where we don’t make decisions for people. We’re not an issuer, we just give them tools to help them be compliant in whatever jurisdiction they’re in, whatever class their investors are, and what type of exemption they’re doing, like how they’re raising the money. Is it a US type exemption? Is it a full prospectus? We help people navigate through that process.”
The security tokens issued by clients through Polymath would be programmed in a way that would comply with the KYC/AML (know-your-customer/anti-money laundering) procedures and rules set by the securities regulator in that jurisdiction.
New Core Now Online
Just halfway through this November, Polymath released its Core v2.0.0 on the Ethereum Mainnet.
Polymath Core v2.0.0 Release is out!
New features including:
– Pegged to Fiat STO Offering
– Forced Transfers
– Support for Tax Withholding
Find details in the blog post on: how to upgrade your tokens to this new release, and our Gitcoin Bounties!https://t.co/9nGxhpZcGt
— Polymath (@PolymathNetwork) November 16, 2018
One of the new features of this upgrade includes the option to conduct STOs pegged to a fiat currency through the USDTieredSTO smart contract. In addition, companies now have the power to forcefully take the token they issued from one account to the other, similar with how shares work.
Meanwhile, POLY tokens have started climbing back up after joining other digital coins on the massive crypto market crash also this month. As of November 29, POLY is trading at US$0.15851015, a 9.42 percent increase inside 24 hours and 5.85 percent increase in one week.