Polymesh (POLYX) is an institutional-grade permissioned blockchain designed specifically for regulated assets, such as security tokens. By addressing the unique needs of issuers, investors, and regulators, Polymesh aims to streamline outdated processes in capital markets and enable the creation of new financial instruments.
Polymesh is built using the Substrate framework, enabling a modular blockchain tailored for security tokens and regulated assets. It employs a Nominated Proof-of-Stake (NPoS) consensus mechanism with the GRANDPA finality gadget, ensuring secure and efficient operations. The BABE algorithm is used for block production.
Polymesh does not heavily rely on smart contracts for core functionality, instead integrating financial primitives directly into its protocol. However, it supports WebAssembly smart contracts using the ink! language, allowing developers to create custom solutions for asset management and compliance.
Polymesh provides a robust infrastructure for several real-world applications, including:
Key industries include real estate, private equity, carbon markets, financial services, and RegTech.
Polymesh was developed by Polymath, the team behind the first security token platform and the ERC-1400 standard. Recognising the limitations of general-purpose blockchains for regulated assets, Polymath launched Polymesh as a purpose-built solution.
Key milestones include:
Polymesh has evolved into a comprehensive blockchain ecosystem for regulated assets, with a focus on tokenization, compliance, and institutional adoption.
Polymesh has formed partnerships with key players in the tokenization and blockchain space, such as: