What Is Polymesh (POLYX)?
POLYX is the native protocol token of Polymesh, a public permissioned Layer 1 blockchain designed for the tokenization and management of regulated and real-world assets. POLYX is used within the network for transaction fees, staking, network security, governance signaling and economic incentives.
POLYX forms part of the economic and consensus structure of Polymesh. Network participants can stake POLYX to support the nominated proof-of-stake consensus mechanism, while transaction and protocol fees are also paid in POLYX.
What Is Polymesh?
Polymesh is a blockchain developed specifically for asset tokenization. Its architecture includes functions for identity, compliance, governance, confidentiality and settlement at the protocol level. These functions are intended to support financial assets that may have ownership, transfer and regulatory requirements.
Unlike general-purpose blockchains where asset issuers may need to implement these requirements through separate smart contracts or external systems, Polymesh incorporates several asset-management functions directly into its blockchain infrastructure. Developers can also build applications and services that interact with assets issued on the network.
Polymesh launched its mainnet on October 28, 2021. The network was initially developed with involvement from Polymath and launched by the Polymesh Association. In June 2025, the Polymesh Association transitioned into Polymesh Labs Ltd., a subsidiary of Polymath that oversees the Polymesh blockchain and related applications.
POLYX is used to pay transaction and protocol fees on Polymesh. The token is also used for staking, which supports the network's nominated proof-of-stake consensus system. Node operators and nominators can stake POLYX and may receive block rewards based on participation and network performance.
POLYX also has a role in Polymesh governance. Token holders can use POLYX for governance signaling related to Polymesh Improvement Proposals.
Polymesh was architected through work associated with Polymath, which had previously developed infrastructure for security token issuance. Chris Housser and Graeme Moore were co-founders of the Polymesh Association, the organization that initially supported the development and adoption of the Polymesh network. The organizational structure later changed when the Polymesh Association became Polymesh Labs in 2025.
At the time of writing, approximately 1.29 billion POLYX are in circulating supply and approximately 1.31 billion POLYX in total supply. POLYX does not have a fixed maximum supply.
POLYX is listed on Binance for trade and purchase. The current price of POLYX is available and updated in real time on Binance.