Polymesh is a permissioned blockchain designed for institutional use, focusing specifically on regulated assets. It addresses issues related to governance, identity, compliance, confidentiality, and settlement found in public infrastructure, thereby simplifying outdated procedures and facilitating new financial instruments. The network’s native token, POLYX, is utilized for staking to secure the system, covering transaction fees, and participating in governance activities.

The platform incorporates built-in financial primitives that allow users to interact with the blockchain at low, fixed costs. It also supports developers in building decentralized applications (dApps). Polymesh aims to resolve key challenges such as enforcing rules, verifying identities, ensuring regulatory compliance, maintaining data privacy, and finalizing transactions. As stated in the Polymesh whitepaper, the project seeks to fix deficiencies in Ethereum and other general-purpose blockchains that could hinder the adoption of security tokens by institutions and industries.

The core team at the Polymesh Association includes Chris Housser as Head of Strategy, Adam Dossa as Head of Blockchain, Graeme Moore as Head of Tokenization, William Vaz-Jones as Head of Partnership Development, Robert Jakabosky as Head of Applied Blockchain Research, Francis O’Brien as Head of Developer Relations, and Nick Cafaro as Head of Product.

Polymesh focuses on regulated assets, using its knowledge of the ERC-1400 security token standard proposed by Polymath to balance regulatory compliance with global access.

On Polymesh, blockchain actions are executed via identities rather than the public key systems typical of other chains, providing a more secure and thorough method. These identities hold universal permissions, allowing authorized entities to operate across the entire network.

The chain’s design allows security token transfers to be logged securely without requiring third parties to verify ownership data, thereby closing the information gap between issuers and holders.

Additionally, Polymesh protects voter privacy while using public blockchain transparency for its “Corporate Governance” function. This combination helps prevent manipulation and guarantees fair, tamper-proof voting.

Apart from security tokens, Polymesh supports stablecoins issued by well-capitalized, authorized third parties that may be pegged to different currencies. These assets enable efficient cash distributions and lower-cost on-chain operations.

Polymath’s ERC20 token, POLY, has a total supply of 1 billion tokens, as stated in the Polymesh whitepaper. Although it is expected that most POLY will convert to POLYX, the latter does not have a set maximum cap. Instead, the POLYX supply is designed to grow over time to finance block rewards and maintain the network's Proof-of-Stake consensus. Currently, POLYX has a total supply of 796,445,050 tokens, with 668,429,821 POLYX in circulation.

Polymesh utilizes a nominated proof-of-stake consensus model, encouraging node operators and stakers to work together in steering the network's development. This approach safeguards the chain by synchronizing the financial goals of both groups via POLYX-based rewards and penalties.

The system dictates block inclusion, along with defining roles, regulations, and incentives. Verified POLYX holders, known as stakers, support their selected node operators by staking POLYX. Consequently, both the staker and the operator earn rewards or incur fines depending on how well the operator maintains their node and adheres to Polymesh protocols.

You can buy POLYX on several centralized exchanges, including Binance, Huobi, Crypto.com, Upbit, Gate.io, and others.