If you don't know what is Polymath Crypto (POLY), you should read this article. Polymath is not just an application for minting security tokens. As an organization, Polymath has greatly contributed to the crypto world and pushed for a more regulated approach to raising funds through security tokens.
In the crypto world, companies or organizations can issue and sell tokens through so-called initial coin offerings (ICOs), which are often sold on decentralized exchanges such as Uniswap. The ICO process is generally more efficient in terms of time and other constraints.
What is Polymath Crypto (POLY)?
Polymath is the name of the organization and its proprietary technology for creating, issuing and managing digital securities on the Ethereum blockchain.
However, it's not for everyone. Investors need to complete all legal compliance checks, including identity verification and money laundering controls, to use the platform.
Who created Polymath?
Polymath was founded by two Canadians, Trevor Koverko and Chris Housser. Koverko previously worked at several fintech companies before transitioning to cryptocurrencies in 2015. Housser worked for four years as a Financial and Employment Law Associate in Toronto.
How does Polymath work?
In total, there will be 1 billion POLY tokens in existence. You could have signed up for the Polymath Airdrop until January 10, 2018. Subsequently, airdrop participants received 240 million tokens.
At this point, the Polymath team reserves the rest for future use. If you miss the airdrop, then you need to trade POLY on the exchange.
Smart Contracts - Investors wishing to buy shares put their funds in escrow. Both issuers and investors need to meet all requirements before the automatic fulfillment of the contract releases tokens and funds.
Identification – Investors first need to verify their identity and place of residence before they can participate in the STO. They also need to qualify as accredited investors. Participants will need to be whitelisted for each token sale. Getting whitelisted for one sale does not necessarily mean having access to another sale.
Lockup Period - Under US law, securities need to be locked for a period of time before they can be issued to participants. This prevents participants from immediately selling shares on the open market, which could drive down prices. Polymath does the same check on its own network. Accredited investors have to wait 90 days; retail investors have to wait a full year to get their tokens.
Is Polymath good investment?
The POLY price forecast shows that Polymath is worth investing in for the future. But given the nature of digital currencies, investing is a risk, so invest wisely. It is necessary to do your own research and listen to investment advice before investing.
So I hope now you will understand what is Polymath crypto (Poly) and whether is it good investment or not. ICOs have raised more than $4 billion in total, and Polymath predicts that security tokens could be worth as much as $10 trillion by 2020. This is a tough task. Even if it's only half right, Polymath's future looks bright.
