What is POLY?

POLY is the native token of the Polymath protocol. Polymath is a decentralised Ethereum-backed project which aims to simplify the legal process of issuing and distributing security tokens. Polymath have created a new compliance focused token standard, the ST20 which is built on the Ethereum blockchain (ERC1400). The Polymath protocol connects issuers, smart contract developers, legal delegates, KYC verification providers and a decentralised exchange in order to allow companies to launch legally compliant tokens that can be purchased by investors through the Polymath decentralised exchange. POLY can be used for payments on the Polymath platform, and makes it possible for exchanges between issuers, service providers, developers and investors to occur.