Time to step away from the toil and trouble in the crypto markets today, and maybe that’s something to be thankful for today! Because of course, for our American viewers it’s Thanksgiving, and I hope you have a happy one. So let’s focus instead on one of the tokens that you may not be so familiar with – and this one is a bull, not a turkey. Every week we’ll be taking a closer look at a crypto project that we think is interesting – and since this week is Digital Securities Week on cryptobriefing.com we thought we’d look at Polymath.
What is Polymath (POLY)?
Polymath is a platform like Ethereum. But instead of creating ICO utility tokens, it offers a way to buy equity in a company. In the crypto world, we refer to this as a security token offering or STO. Not to be confused with STD.
One of the biggest differences between an ICO and an STO is very simple:
An STO has to be 100% compliant with SEC regulations.
Now, if you’re ready for some irony, Polymath raised its money via – guess what – an ICO.
That’s not as weird as it sounds, I promise.
The Polymath ICO was the first to register with the Securities and Exchange Commission and to be fully SEC compliant. Over $59 million was raised during a private token sale to accredited investors.
Polymath Brings Automated Securities One Step Closer
Since then Polymath has been one of the pioneers in the evolving digital securities arena, and it is still a Top 100 crypto token.
But, like the rest of the market, it has suffered in the bear market, and its current market cap is just $42M at a price of around 15 cents. Does this make it a good deal? That may depend on whether you believe STOs are the future of crowdfunding.
Project Building on Polymath
You may ask if Polymath is being used. The answer is, yes. Some of the projects currently building on the Polymath platform tZero, Minthealth, Corl, and BlockEstate.
