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Polymath (POLY) is a blockchain platform designed to tokenize securities and traditional financial assets. It simplifies the process of creating, issuing, and managing security tokens, making them compliant with regulations.
Polymath focuses specifically on security tokens, unlike most cryptocurrencies. It provides tools and protocols to ensure compliance with financial regulations, bridging traditional finance and blockchain.
Polymath uses Ethereum-based smart contracts to create security tokens with built-in compliance features. It supports ST-20, a specialized token standard for regulated assets.
POLY has a fixed maximum supply of 1 billion tokens. The distribution was set at launch, with no further minting possible.
POLY is an ERC-20 token, so it can be stored in any Ethereum-compatible wallet. It's used to pay for services on the Polymath platform, like token creation and compliance features.