4 C
London
Saturday, March 2, 2024

What Is Polymesh(POLYX)? Complete Guide & Review About Polymesh

- Advertisement -
binance 728x90 banner

What Is Polymesh(POLYX)?

Polymesh is an institutional-grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving challenges with public infrastructure around governance, identity, compliance, confidentiality, and settlement. POLYX is the native protocol token of used to stake and secure the network, pay transaction fees, and engage in governance.

Important Points Table Of Polymesh

BasicPoints
Coin NamePolymesh
Short NamePOLYX
Circulating SupplyN/A
ExplorerClick Here To View
DocumentationView Document
WebsiteClick Here To Visit

How to Buy the Continental & Trade On Exchange?

First Step

Buying POLYX Is Very Easy Task . Just Find Exchange Where POLYX Available & Buy Through Your Credit & Other Altcoin .

Second Step

Once You Purchased POLYX. Now It Is Time To Store Your POLYX Or Start Trading On Exchange .

POLYX Price Live Data

The live Polymesh price today is $0.224579 USD with a 24-hour trading volume of $55,198.23 USD. They update POLYX to USD price in real-time. This is up 2.52% in the last 24 hours. The current CoinMarketCap ranking is #4375, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.

If you would like to know where to buy Polymesh Coin at the current rate, the top cryptocurrency exchange for trading in stock is currently Huobi Global. You can find others listed on crypto exchanges page.

A blockchain for securities 

Polymesh is an institutional-grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving the challenges around governance, identity, compliance, confidentiality, and settlement.

Get started

Getting started on Polymesh Coin is easy. Follow the instructions and in a short amount of time, you’ll be ready to use the chain.

Download the wallet

Enable your browser to interact with the Polymesh network with the Wallet extension for Google Chrome.

Become verified

Every user has to pass a minimal identity verification check as part of our customer due diligence (CDD) requirement when onboarding.

Get POLYX

POLYX is the native token on Polymesh Coin— use it for paying transaction fees and participating in governance. Find out how to get it.

Why Purpose-Built?

Polymesh specificity gives the chain (and the applications built on top) an advantage over general-purpose blockchains.

Governance

Contentious forks in the chain present significant legal and tax challenges for tokens that are backed by real assets. Polymesh Coin uses an industry-led governance model to prevent hard forks and guide the evolution of the chain

Identity

Securities issuance and transfer requires a known identity, but most chains are built for pseudonymity. Polymesh uses a customer due diligence process to ensure all actors on the chain are verified and all transactions are authored by permissioned entities.

Compliance

Solutions built on top of general purpose blockchains struggle with processing the complex logic needed to comply with regulations.

Confidentiality

Most market participants need their position and trades to remain confidential, but anyone can see holdings on general-purpose blockchains. Polymesh Coin has engineered a secure asset management protocol that enables confidential asset issuance and transfers.

Settlement

Settlement challenges prevent the blockchain from serving as a golden record for asset ownership. By creating assets at the protocol layer, Polymesh is able to provide a simplified approach to transfers that provides instant settlement without prefunding, prevents unwanted airdrops through trade affirmation, and can offer deterministic finality.

A designated utility token

Utility tokens provide access to a blockchain-based infrastructure and are designed for use within that ecosystem only. POLYX is a utility token under Swiss laws, based on guidance from the Swiss financial regulator FINMA.

POLYX Tokenomics

POLYX is used for paying transaction fees as well as a whole range of other functions related to the network’s operations, such as voting on governance proposals or staking on node operators. With these functions tied together, an ecosystem emerges on Polymesh with POLYX at the centre.
The Tokenomics describes the mechanics for how POLYX is used on the blockchain.

POLYX Supply

The POLYX supply approaches an asymptotic limit, with new POLYX created based on an algorithmic supply schedule. To learn more, see the Polymesh white paper.

POLY:POLYX Upgrade Bridge

The main mechanism to build the supply of POLYX is through the one-way POLY:POLYX upgrade bridge allowing users to upgrade their Ethereum-based POLY tokens to POLYX on Polymesh.
POLY can be upgraded to POLYX at a 1:1 ratio (i.e. 1000 POLY = 1000 POLYX). The Polymesh Governing Council will maintain the POLY to POLYX Upgrade Bridge for at least one year following the launch of Polymesh mainnet.

Polymesh Network Treasury

Polymath will upgrade between 240 million and 250 million POLY to POLYX to be deposited in the Polymesh Network Treasury.

Newly Minted POLYX

Newly minted POLYX will be created for block rewards with a maximum of 14% of the total supply minted annually. To prevent continuous acceleration of inflation, the amount of newly minted POLYX used for rewards will be fixed at 140 million annually once the supply reaches 1 billion POLYX.

- Advertisement -

Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

LATEST PR
- Advertisement -binance
Related Articles