Polymath (POLY) coin issuance time

The Polymath (POLY) token, used to power its security token platform and blockchain, debuted in January 2019, garnering $58.5 million in an ICO.

Dec 27, 2024 at 05:01 am

Polymath (POLY) Coin Issuance Timeline

Key Points:

• Polymath (POLY) is a decentralized platform for creating and managing security tokens.
• POLY was issued in January 2019 through an initial coin offering (ICO).
• The POLY token is used to power the Polymath platform and pay for transaction fees.
• Polymath has released several major updates to its platform since its launch, including the Security Token Studio and the Polymesh blockchain.
• Polymath has also partnered with several major companies in the financial industry, including Fidelity Investments and IBM.

Issuance Timeline

1. Pre-ICO

• November 2017: Polymath announces plans for an ICO to fund the development of its platform.
• December 2017: Polymath releases a white paper outlining the details of its platform and the POLY token.
• January 2018: Polymath begins accepting commitments for its ICO.

2. ICO

• January 2019: Polymath launches its ICO.
• February 2019: Polymath raises $58.5 million in its ICO.
• March 2019: POLY tokens are distributed to ICO participants.

3. Post-ICO

• April 2019: Polymath launches its Security Token Studio.
• July 2019: Polymath announces a partnership with Fidelity Investments.
• September 2019: Polymath releases Polymesh, a new blockchain designed for security tokens.
• October 2019: Polymath announces a partnership with IBM.
• November 2019: Polymath launches the Polymath Index, a new tool for tracking the performance of security tokens.

FAQs

1. What is the purpose of the POLY token?

The POLY token is used to power the Polymath platform and pay for transaction fees. It is also used to incentivize users to participate in the Polymath ecosystem.

2. What is the Security Token Studio?

The Security Token Studio is a suite of tools that makes it easy to create and manage security tokens. It includes tools for creating token contracts, setting up compliance rules, and managing investor onboarding.

3. What is Polymesh?

Polymesh is a new blockchain designed specifically for security tokens. It offers a number of advantages over existing blockchains, including faster transaction times, lower fees, and better security.

4. What are the benefits of using Polymath?

Polymath provides a number of benefits for businesses and investors, including:

• Reduced costs: Polymath's platform can help businesses reduce the costs of issuing and managing security tokens.
• Increased efficiency: Polymath's Security Token Studio can streamline the process of creating and managing security tokens.
• Improved security: Polymesh offers a number of security features that are designed to protect security tokens from fraud and theft.
• Increased transparency: Polymath's platform provides investors with a transparent view of the security tokens that they are invested in.

5. What are the risks of using Polymath?

There are a number of risks associated with using Polymath, including:

• Regulatory uncertainty: The regulatory landscape for security tokens is still evolving. This could create uncertainty for businesses and investors.
• Technology risk: Polymath's platform and Polymesh are new technologies. There is always the risk that they could experience technical problems.
• Market risk: The value of POLY tokens could decline, which could lead to losses for investors.