|All Time High:|
|Market Cap: |
|The price of #POLY today is $0.22 USD.|
The lowest POLY price for this period was $0, the highest was $0.218, and the exact current price of one POLY crypto coin is $0.21822.
The all-time high POLY coin price was $1.66.
Use our custom price calculator to see the hypothetical price of POLY with market cap of BTC or other crypto coins.
|The code for Polymath Network is #POLY. |
Polymath Network is 4.6 years old.
|The current market capitalization for Polymath Network is $201,850,179.|
Polymath Network is ranked #144 out of all coins, by market cap (and other factors).
|The trading volume is large today for #POLY.|
Today's 24-hour trading volume across all exchanges for Polymath Network is $26,642,488.
|The circulating supply of POLY is 924,998,413 coins, which is 92% of the maximum coin supply.|
|Note that there are multiple coins that share the code #POLY, and you can view them on our POLY disambiguation page.|
The Path to Blockchain Settlement
Settlement on blockchain does not yet exist, but not for lack of effort or interest. The reasons here are varied, but can be broken down most easily in two ways: by definition and through mechanics. By definition, settlement does not yet exist on blockchain because it is defined by the real-world processes and regulated participants involved in what constitutes a settled transfer of assets; without those regulations and counterparties, settlement can’t exist on blockchain. But we’re confident these pieces will come with time. What we’re more concerned with and prepared to solve are the mechanics of why settlement on blockchain does not yet exist. In other words, the challenges inherent in blockchain that are roadblocks to making settlement a reality. These include:Pre-funding. Participants in a blockchain transfer are required to part with cash or assets in advance by pre-funding their transaction to mitigate counterparty credit and liquidity risks. This ensures a transfer is executed once the counterparties agree on the terms (i.e., price and amount). While this process does take advantage of blockchain automation, it’s far from the much-hyped instant settlement that some claim this supportsCentral bank digital currencies / stablecoins. To facilitate the instant transfer of funds, an interoperable central bank digital currency (CBDC) or stablecoin is needed. While there are many in the works from industry players, ...
Coinbase Custody added to Polymath’s Service Provider Ecosystem
TORONTO— October 20, 2020: Coinbase Custody, a US-based qualified custodian specializing in digital asset custody for institutions, has been added to the Polymath Service Provider Marketplace. Polymath users now have access to Coinbase’s secure and battle-tested custody storage, while minimizing onboarding friction on all sides. The Polymath Service Provider Marketplace brings together an ecosystem that includes custody agents, broker-dealers, legal firms, cap table management providers, KYC/AML providers, and others who can help users create and manage their token. “Institutions adopting digital asset solutions need an ecosystem that provides a comprehensive suite of tools,” said Steven Capozza, Coinbase’s Institutional Coverage Group. “Users are looking for a balance of regulatory compliance, asset security and intuitive technology, and we are eager to continue adding new assets and growing the cryptoeconomy.” Coinbase Custody is an independent NYDFS-regulated entity built on Coinbase’s crypto-first DNA. While their custody solution has been designed from the ground up for the unique challenges of storing crypto assets, it operates similarly to traditional custody services and is overseen by the same regulators, held to similar capital requirements, and audited in the same way as a traditional custodian. Further demonstrating their commitment to security and oversight, Coinbase Custody was the first crypto ...
The Polymesh Dashboard: everything you need to manage your on-chain profile
If you’re new to security tokens or an experienced blockchain user, finding information tied to your keys and accounts like assets and transaction histories can be convoluted and downright confusing. For example, your typical block explorer is an excellent tool for users to monitor transactions, but only if you know what you’re looking for. Otherwise, it’s a series of meaningless letters and numbers that don’t tell you much. With the Polymesh Dashboard, users can easily manage keys, accounts, and assets, everything related to their Polymesh IDs and on-chain profiles. By taking a design-first approach, the team at Polymath have merged the everyday usability of a social media profile with necessary account and asset details, all in one simple, easy-to-use hub. Here’s what you can expect: Identity ManagementKnow the types of activities you can participate in by tracking and viewing your attestationsEasily manage your keys and key delegation to ensure the right people are entrusted to manage the right things. In depth permissions customization coming soon. Asset ManagementAccept or reject asset transfers to your ID and never worry about airdrops againInitiate and manage transfers of your assetsBuild asset portfolios and assign managers to those portfolios Transaction HistoryClearly see your transaction history filtering by asset or key dApp LibraryExplore Polymesh-supported dApps, including Staking, Polymesh Govern...
Polymesh Pillar Series Part 4: Governance
Polymesh Pillar Series Part 4: Governance on Polymesh Blockchain governance is the set of rules that outline how a chain is managed, how changes are implemented, and who the key decision makers are — simply put, it’s the constitution that guides a blockchain. Governance can be a very important and difficult topic for any blockchain, not to mention one built for security tokens, where the chain is not only the source of truth for potentially billions of dollars, but must also allow investors, issuers, and capital markets participants to fulfill their regulatory obligations. Look no further than the challenges faced when trying to implement changes to general-purpose blockchains. Not only is a significant amount of coordination required between all nodes running the blockchain’s software, but disagreements on the changes to the chain, or how they should be implemented, can lead to forks (a split of the blockchain leading to 2 separate instances of the ledger up until that point which then continue to operate based on different rules). Who decides which instance of a security token is the right one once a general-purpose chain has hard forked? This situation has no current legal or regulatory certainty, creating an environment that capital markets participants and regulators alike will choose to avoid.How it Works Polymesh addresses the challenges that general-purpose blockchains face with governance by building it i...
Polymesh Pillar Series Part 3: Confidentiality on Polymesh
An essential feature of the current capital markets ecosystem is ensuring that private transactional information (who holds a security and how much they hold) remains confidential at all times. This is where one of the key challenges with public, general-purpose blockchains comes into play — anyone can see the contents or holdings of any public address. And while users can easily have confidential transactions and balances with layer-2 solutions, they come with an unworkable compromise: to add confidentiality, they must sacrifice compliance. For these layer-2 solutions to maintain privacy of transactions, issuers are unable to configure compliance rules or report on ownership. On Polymesh, users are not forced to make the same choice.Psst. Can you keep a Secret? Institutions must protect the private and financial information of their clients to comply with privacy requirements and safeguard their financial interests. Today, participants are concerned about the unfair edge provided to algorithmic traders; the worry that these same firms could monitor movements of positions to infer potential trades is even more significant, and one that Confidentiality on Polymesh can protect from. Under these circumstances, securities firms may not be able fulfill large orders without revealing their intention, potentially costing their clients significantly more. To further complicate the challenges, non-reporting issuers (a fancy nam...
Alcyone is here! Learn more about Polymesh Testnet II
Today marks the release of Polymesh Testnet II: Alcyone. Much like it’s predecessor Aldebaran, Alcyone is the name of a star within the Taurus constellation, a nice nod to our Polymath brand bull. Whereas Testnet I was predominantly user-facing, much of what Alcyone brings to life is under the hood of Polymesh, with new enterprise features to help institutional users clear the roadblocks found on public, permissionless blockchains. Here’s what you can expect from Alcyone: Confidential Assets Infrastructure On public chains, anyone can see the contents of a public address. While users can easily make transactions and balances confidential with layer-2 solutions, they come with an unworkable compromise — to add confidentiality, they must sacrifice compliance. Polymesh enables users to issue confidential assets while still adhering to compliance criteria in an automated way. The Alcyone release is simply the first step to implementing confidentiality with much more on the way — look forward to a technical white paper on the specifics of how Polymesh manages confidentiality later in the fall. Portfolios Portfolios help users group assets in a way that makes sense for them, letting them organize large numbers of assets in a functional and reportable way. Alcyone testers can start using portfolios right away and can look forward to dashboarding capabilities in Q4. Permissions With the Alcyone testnet, users will ...
Polymesh Pillar Series Part 2: Compliance on Polymesh
As compliance requirements continue to evolve, participants in the space have needed to put in place increasingly complicated, often-proprietary systems to remain compliant. While these systems may add elements of automation to complex compliance rules, they still require manual intervention making them far from the end-to-end automation that’s needed to deal with a convoluted process of complying with regulations in multiple jurisdictions. The nature of this ineffective automation passes along the costs to all participants, making them inefficient as well. In addition to a lack of automation, current approaches to compliance on general-purpose blockchains are unable to deploy a complex compliance framework due to higher and higher computing costs. For example, general-purpose chains like Ethereum rely on layer-2 solutions built on top of the chain to implement these complex frameworks. As users begin to layer on successive rules for their compliance, the number and complexity of such rules pushes the chain to its computational limits, driving up costs and processing time. Polymesh addresses these challenges by having Compliance built into the core of the chain, providing comprehensive automation to check the rules configured into the token, enabling faster processing and lower protocol fees. Once security token rules are set by the issuer, the chain ensures they are checked, and most importantly must be met, before a trans...
Polymesh Pillar Series Part 1: Identity on Polymesh
The objectives of most securities regulators is to provide protection to investors from unfair and fraudulent practices, foster fair and efficient capital markets, and contribute to the stability of the financial system and the reduction of systemic risk to facilitate capital formation. In order to fulfill their mandate, securities regulators not only require issuers to provide fulsome public disclosure and reporting but also require participants to validate customer identities through Know-Your-Client (KYC) obligations. For general-purpose blockchains, meeting regulatory requirements, like knowing who someone is, runs counter to core aspects of blockchain ethos, particularly pseudonymity and censorship. And while identity solutions can be added, they come in the form of layer-2 add-ons, creating additional complexity in the end-to-end solution. Polymesh, on the other hand, is a blockchain built specifically for security tokens–we needed to address major concerns of regulators like identity in the foundation of our solution. Polymesh has identity at the core of the chain; this means a user’s identity on the chain can only be tied to one person, and that one person can only have a single identity. Now, participants on Polymesh can more easily satisfy regulatory standards since tokenholders cannot subvert rules by holding assets under multiple identities. It also makes the chain more resilient and less vulnerable to Sybil a...
The New and Improved Token Studio
“…the challenge is about taking things that are infinitely complex and making them simpler and more understandable.” Robert Greenberg said this in 2006 in reference to the challenges facing advertising, but it’s especially poignant today. In fact, the idea of turning complexity to simplicity and understandability is ingrained in Polymath’s DNA. Our mission is to automate and simplify finance using blockchain technology and our latest version of Token Studio showcase exactly what this means. The new Token Studio on Polymesh will be the gateway for users to create, issue, and manage their security tokens and can be tested now on the Aldebaran Testnet. The Evolution of Token Studio We launched Token Studio three years ago on Ethereum. Since then, 200+ security tokens have been created using the technology, and we’ve been able to learn more about what makes the industry tick. The most important learning has been that security tokens cannot gain adoption and acceptance from regulators and institutions with a general-purpose blockchain; security tokens need something more specialized that addresses the foremost concerns of governance, confidentiality, identity, and compliance. This realization was the catalyst for the Polymesh blockchain. And with a new chain, we’ve created a new Token Studio to help our users leverage the advantages of Polymesh when creating a security token. There are three main benefits to using ...
Best Practices for Creating Proposals on Polymesh Governance
With Polymesh Governance, POLYX holders have the opportunity to influence the direction of the Polymesh blockchain. They can do this by submitting a Polymesh Improvement Proposal (PIP) through Polymesh Governance. Other POLYX holders vote on the proposal, with approved proposals voted on by the Polymesh Governing Council for implementation. The quality of the proposal can be one of the best predictors of it passing — it will be more easily understood by the POLYX community and Governing Council, and more explicit in implementation. Although a form is provided to proposers with information to include in a proposal, the format is meant to be flexible and therefore, does allow room for error. Here are a few best practices to consider when creating a proposal:A Descriptive Title and Proposal Details Questions to ask: Am I providing enough information for POLYX holders and the Governance Council to make a decision? All proposals must include a title and supporting documentation for consideration by the community. The aim of your proposal title should be that a community member can read the title and understand the changes you’re proposing. The Proposal details field is available for you to include additional details and supporting documentation through an external link. A few examples:If your proposal requires a network upgrade, the URL should point to the code changes in some format. We suggest you submit them as a Githu...
More Polymath Network (#POLY) News
|Coinbase Sued for Allegedly Selling 79 Unregistered Crypto Securities &m...
A class-action lawsuit has been filed against the Nasdaq-listed cryptocurrency exchange Coinbase alleging that the platform lets customers trade 79 cryptocurrencies that are unregistered securities, including XRP, dogecoin (DOGE), and shiba inu (SHIB).Lawsuit Claims Coinbase Sold 79 Unregistered Crypto Securities to Customers
A class-action lawsuit was filed last week against Coinbase Global Inc., Coinbase Inc., and CEO Brian Armstrong.
Lead plaintiffs and Coinbase users Christopher Underwood, Louis Oberlander, and Henry Rodriguez allege that from Oct. 8, 2019, to the present, Coinbase let customers buy and sell 79 different cryptocurrencies without disclosing that they are in fact securities. The plaintiffs added that these crypto securities are not registered with the U.S. Securities and Exchange Commission (SEC) or any state regulators, and Coinbase is not registered as a securities exchange or a broker-dealer.
The plaintiffs claim that 'Coinbase's sale of these tokens violates both federal and state law.' The class covers all persons or entities who transacted any of the 79 crypto tokens on Coinbase or the Coinbase Pro platform during the class period.
Without registering these crypto assets with the SEC and state regulators, the plaintiffs said:
Purchasers do not have access to the disclosures that accompany the issuances of traditional securities. Rather, investors receive - at most - only the so-called whitepapers, which describe the token, but do not satisfy the requi...