I. Project introduction
Polymath is headquartered in Toronto, Canada and was established in 2016. Polymath is a security token issuance platform, which aims to use blockchain technology to launch compliant AML/KYC open source standards, assist users to complete complex securities transaction legal processes with the help of smart contract auditing, and efficiently and quickly create and Issue tokens. The platform protocol will embed financial regulatory requirements to provide compliance guarantees for token issuance. At the same time, it can help the team screen and authenticate investors, connect to the developer market, and provide a one-stop solution for token issuance.
Second, project application
The standard protocol provided by Polymath can solve the problem that security tokens cannot be traded, cannot be regulated, have no interface (expensive cost) and no ecosystem (cannot get help). Problems, to create the world's first security token community that is fast, convenient and low-cost. Polymath will enable virtual coins to represent stocks in traditional financial assets such as private equity, stocks, commodities, venture capital funds and real estate.
Polymath will consist of four layers: First, the protocol layer transitions from Ethereum-based smart contracts to Polymath's blockchain, the second is the application layer to easily create asset tokens for issuers, and the third is legal tools And the legal layer of services, and the fourth is the exchange layer of liquidity.
3. POLY token
Polymath's platform token (POLY) can be used as the "fuel" of the platform to pay the relevant fees for those who issue assets on the chain. Polymath provides a decentralized protocol for trading security tokens; enables individuals and institutions to authenticate their identity, residency and certification to participate in Security Token Offerings (STOs); allows fiat representatives to The security token is issued by quotation; the issuer is matched with the developer, and the developer can convert the issuer's security token parameters to generate ERC20 compatible tokens.
IV. ST-20 protocol
Polymath has formulated ST-20 protocol in order to clarify the compliance of all security tokens it operates. The ST-20 protocol ensures the compliance of security token issuers, while also ensuring the technical security brought about by the smart contract framework on which the ST-20 protocol is based. To maintain compliance, Polymath works with a number of law firms, most notably with the compliance platform Vertalo.
