Polymesh (POLYX)
A Blockchain Making Tokenization Accessible for Institutions- 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.