Knowledge pills on Polymath (POLY)
1. What is Polymath
The Polymath is a platform that aims to opens up the blockchain to legally compliant securities offerings with a network of services designed to lower associated transaction costs over time. In other words it aims to bring securities into tokens in a totally legal manner.
2. The POLY token
The core utility tokens that power the Polymath system. A POLY token is a standard ERC20 token. This token is used inside the platform either by investors willing to invest in securities and by companies or others that wants to issue a new security token offering (STO).
One billion POLY tokens will be minted and no additional POLY tokens will ever be minted after that.
3. Polymath marketplaces
There are 3 marketplaces inside the platform where the POLY token can be used: KYC Provider Marketplace, Legal Delegate Marketplace, Developer Marketplace.
4. Developers and STO contracts
Developers who create STO contracts using Polymath tools are incentivized by the ability to earn royalties. Every time a developer’s STO contract is used, the developer will receive a payout from the issuers
5. Proof of process
At times documents used inside polymath may need to be audited, and participants may need to provide proof that the documents haven’t been altered or fabricated at a later date. They can do so with a merkle hash tree.