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Polymath

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Description

What does Polymath do?

Polymath appeals to firms, startups, and businesses by streamlining the process of creating and selling security tokens. Security tokens represent ownership in a company just like stocks. Much like stocks, security tokens provide access to voting rights, dividends, and other forms of income that have tax implications.

Polymath provides access to three marketplaces that ease up the process of tokenizing securities: the KYC Provider Marketplace, Legal Delegate Marketplace, and Developer Marketplace.

Polymath also plans to offer an exchange for added liquidity.

What is POLY used for?

POLY tokens are used primarily as a medium of exchange and as a rewards system. Different participants interact with POLY in slightly different ways.

Issuers post bounties in POLY to encourage legal delegates or developers to assist them. Developers earn POLY for creating and reviewing STO contracts. KYC providers pay a POLY fee to join the network. This fee is used to identify legitimate KYC providers who are capable of making back this fee over time by providing good service. Investors pay a POLY fee to KYC providers for verification. Lastly, legal delegates earn POLY for their legal assistance and taking responsibility for the token issuance.

How can POLY appreciate in value?

Polymath has the chance to capitalize on a new shift of tokenizing security assets. The industry around the process of creating a legal security is a huge industry. Legal fees can be very high, especially niched legal work such as launching a Security Token Offering (STO). If Polymath is seen as the all inclusive, go-to solution for legally setting up an STO, then the demand for POLY should increase substantially, which would result in an increase in price.

What are the differences between POLY and its competitors?

Polymath has competitors, but they don’t appear too threatening. Some examples are CoinList, Templum, and Harbor, but they do not have any inherent advantages over Polymath. They are all in their very early stages.

Polymath’s largest competitor, tZERO, could also be Polymath’s biggest ally. tZERO is building a regulated exchange for token securities. Polymath actually helped tZERO with their ICO, which raised $100,000,000 in 121 hours. So while tZero could potentially take customers from Polymath, it seems Polymath is interested in combining forces with tZero.

  • Mainnet Launch: Not applicable at this point
  • Open Source: Yes
  • Consensus Type: N/A
  • Technology: Blockchain
  • Total Coin Supply: 1,000,000,000
Reward
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REWARD
REWARD
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Risk
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RISK
RISK
score: 0 /100

Our opinion

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Overall Rating 0.00

Idea
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Innovativeness

Is the project solving a new problem?

Feasibility

Is the project’s solution realistic?

Clarity

Does the project’s message make sense?

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Team
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Core Members

How experienced and skilled are the team members?

Commitment

Are any key members involved in other projects?

Advisory Board

Is the project advised by anyone notable?

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Market & Competition

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Awareness
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Attention

Is the project on the public’s radar?

Hype

Is the general opinion of the project positive or negative?

Community

Is the project supported by a large number of crypto enthusiasts?

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Coin Utility
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Usefulness

Is the project’s native currency needed for key features?

Versatility

Does the native currency have a number of different uses?

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Our opinion

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Description

What does Polymath do?

Polymath appeals to firms, startups, and businesses by streamlining the process of creating and selling security tokens. Security tokens represent ownership in a company just like stocks. Much like stocks, security tokens provide access to voting rights, dividends, and other forms of income that have tax implications.

Polymath provides access to three marketplaces that ease up the process of tokenizing securities: the KYC Provider Marketplace, Legal Delegate Marketplace, and Developer Marketplace.

Polymath also plans to offer an exchange for added liquidity.

What is POLY used for?

POLY tokens are used primarily as a medium of exchange and as a rewards system. Different participants interact with POLY in slightly different ways.

Issuers post bounties in POLY to encourage legal delegates or developers to assist them. Developers earn POLY for creating and reviewing STO contracts. KYC providers pay a POLY fee to join the network. This fee is used to identify legitimate KYC providers who are capable of making back this fee over time by providing good service. Investors pay a POLY fee to KYC providers for verification. Lastly, legal delegates earn POLY for their legal assistance and taking responsibility for the token issuance.

How can POLY appreciate in value?

Polymath has the chance to capitalize on a new shift of tokenizing security assets. The industry around the process of creating a legal security is a huge industry. Legal fees can be very high, especially niched legal work such as launching a Security Token Offering (STO). If Polymath is seen as the all inclusive, go-to solution for legally setting up an STO, then the demand for POLY should increase substantially, which would result in an increase in price.

What are the differences between POLY and its competitors?

Polymath has competitors, but they don’t appear too threatening. Some examples are CoinList, Templum, and Harbor, but they do not have any inherent advantages over Polymath. They are all in their very early stages.

Polymath’s largest competitor, tZERO, could also be Polymath’s biggest ally. tZERO is building a regulated exchange for token securities. Polymath actually helped tZERO with their ICO, which raised $100,000,000 in 121 hours. So while tZero could potentially take customers from Polymath, it seems Polymath is interested in combining forces with tZero.

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