POLYMATH (POLY) SUMMARY
Polymath (POLY) is a protocol to facilitate the primary issuance and to restrict the secondary trading of blockchain security tokens. Polymath uses a blockchain-based protocol that provides a suite of tools to coordinate and incentivize participants to collaborate and launch financial products on the blockchain. By creating a standard token protocol which embeds defined requirements into the tokens themselves, these tokens can only be purchased and traded among verified participants.
To read our original analysis please see our report here.
Polymath has partnered with Pegasus FinTech, a Blockchain and Token Accelerator, that focuses on supporting innovative solutions in the financial services, technology and blockchain and cryptocurrency communities. They are planning to launch two projects,
- Fanblocks.com which is an e-commerce subscription box business for collegiate and pro sports “super fans”, They plan to sell Monthly collection of exceptional products. This will be launched on the Polymath platform.
- Block Development Capital Inc. which is based in the Greater Toronto Area, and functions as a licensed mortgage origination corporation specializing in mortgage markets that have historically been under-serviced by traditional lenders in terms of loan type and geographic locations. The specific focus is on the development of commercial and residential units. Block Development has developed an asset backed security token that will provide yield, maturity bonuses and redemption features to the token participants.
This is an step forward in issuance of security tokens as OFN offers a platform for U.S-based and international investors to trade security tokens, They are planning to release their platform within the coming weeks. The steps taken here are exciting new steps towards generation of security token ecosystem. Polymath’s platform is now fully functional as demonstrated a week ago during the World Blockchain Forum in NYC. The combination of these partnerships will allow for Polymath users to partake in creation of security tokens (using polymath’s platform) and also to buy and sell such tokens using trading platforms offered by OFN.
About: OpenFinance Network is an open source, trading, clearing, and settlement service for the alternative asset industry. The platform serves as a conduit between issuers, investors, and industry stakeholders, offering streamlined access to liquidity and asset transfer efficiencies. The team has over fifty years of combined experience in financial markets, exchange technology, and finance law and has operated together since 2014. For more information on OFN and the need for trading, see our website www.openfinance.io and our Medium posts here, and here.
About: Pegasus Fintech, Inc. is a Blockchain and Token Accelerator that focuses on supporting innovative solutions in the Financial Services, Technology, Blockchain and Cryptocurrency communities. Pegasus’ Accelerator program deploys a team of highly skilled industry, marketing, legal and financial specialists that provide evaluation, management, marketing programs, resources and tools to affect the growth of the business and create and execute the Blockchain and regulatory compliant, security-based Token programs. They also work with investment banking, private equity and democratized investment community to assist their clients with financing initiatives.