1 Level
41 Review
50 Karma
Review on Polymath by Arun Kaul
Security Token Revolution
Polymath modified the process of creating and selling security tokens. It made a new token standard, the ST20, and enforced government compliance. Only certain authorized investors and their Ethereum wallet addresses” can hold ST20 tokens.
The aim of this polymath is to have an ecosystem and protocol that can verify the investors (more on that later) and can purchase and trade tokenized securities that are as same as other types of investments like stocks, equity, and venture capital funding.
Polymath implicitly clarifies that tokens created through their STO protocol are absolutely secured by every definition and legal standard. Their own POLY tokens are defined by Polymath as being utility tokens as they are used to pay for various fees and services.
Demand for POLY is high on Asian exchanges with the majority of volume traded on Upbit and Binance. When the was coin first launched, only a few exchanges provided access to the token. Fortunately, you now have a wide variety of options including Bittrex. if you’re looking for an American exchange.
Pros
- They claim to be the first project working on this solution and have been working on it for 12 months
- They have a strong partnership with tZERO
- The team seems pretty strong with a long history in the crypto space
- They’ve already held large, successful conferences that have established them as a leader in securities tokens
- They’ve already deployed on Ethereum Mainnet
Cons
- They’re yet to have a working ST-20 token being traded
- There’s a lot of hype. Probably too much hype considering their product progress
- They’re not backed by any of the major crypto VC funds that can help them establish partnerships, accelerate growth
