Polymesh is a blockchain making tokenization accessible for institutions.
POLYX is the native token of the project. The current use cases for POLYX include:
Transaction and protocol fees: POLYX is used to pay transaction fees and protocol fees for certain types of native functions (e.g. configuring a token).
Governance: Holders can influence the direction of Polymesh by bonding POLYX to proposals through Polymesh Governance.
Staking: Users can stake POLYX tokens on Polymesh node operators for a share of staking rewards.
The project consists of the following major components working in conjunction:
Standardized Asset Creation and Management: Polymesh incorporates the logic for the issuance, compliance, settlement, and lifecycle management of tokenized assets into the base layer of the chain.
Compliance Engine: A compliance engine lets users customize an array of compliance and rule-based characteristics to be automated and enforced at the token level.
Settlement Engine: Settlement is possible for both on- and off-chain assets through Polymesh’s on-chain settlement engine, multi-party transaction affirmation, and near-instant deterministic finality.
Smart Contracts: Smart contracts in Polymesh are written in ink! and permit users to build additional custom functionality as needed.
As of November 15th 2022, the total token supply OF POLYX is 522,161,895. The current circulating supply is 403,259,917.00 (~ 77.00% of the total token supply).
Learn more about the token distribution of POLYX here.
A Blockchain Making Tokenization Accessible for Institutions.
Nov 15th, 2022