Polymesh is a blockchain platform specifically engineered for security tokens, which are digital assets subject to regulatory compliance. Unlike general-purpose blockchains, Polymesh addresses the unique challenges of security tokens by providing built-in compliance, identity management, and confidentiality features while preserving blockchain's benefits of transparency and immutability. Its native token, POLYX, serves multiple crucial roles within the ecosystem, enabling the creation and management of security tokens, facilitating governance processes, and ensuring network security through staking. Through its specialized design and regulatory-oriented approach, Polymesh aims to streamline the process of issuing, managing, and trading security tokens while complying with existing and evolving regulations in the financial sector.POLYX is the native protocol token of Polymesh, often termed as its fuel, enabling the creation and management of security tokens. It also drives governance participation among its holders and plays a vital role in securing the network through staking. Legally recognized as a utility token under Swiss laws, it provides access to the Polymesh blockchain infrastructure.
The tokenomics of POLYX are designed to facilitate various network operations like paying transaction fees, signaling on governance proposals, and staking on node operators. Its supply is governed by an algorithmic schedule, with a notable mechanism being the POLY:POLYX Upgrade Bridge, allowing a one-to-one conversion from Ethereum-based POLY tokens to POLYX tokens on Polymesh.
This bridge, however, will close on January 31, 2024. Additionally, new POLYX tokens are minted as block rewards with a maximum of 14% of the total supply minted annually, and to prevent continuous inflation, the amount of newly minted POLYX for rewards will be fixed once the supply reaches 1 billion POLYX. Through these multifaceted roles, POLYX is central to the operation, governance, and security of the Polymesh network.
Total Supply: 872,896,471Max supply: Infinite
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