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Polymesh
About Polymesh
Polymesh (POLYX) is the native token of the Polymesh blockchain, a platform designed for security tokens. POLYX is used for transaction fees, staking, and governance within the ecosystem. Polymesh, tailored for the creation and management of regulated security tokens, addresses regulatory concerns and streamlines compliance processes for businesses in the securities industry. POLYX ensures the network’s security and decentralization. Polymath created Polymesh and POLYX, with the genesis block launched in October 2021 by the Polymesh Association.
*The Token: Polymesh (POLYX)* Polymesh (POLYX) is the native utility token of the Polymesh blockchain, a specialized blockchain platform designed explicitly for security tokens. POLYX is utilized for various purposes within the Polymesh ecosystem, including transaction fees and staking.
*The Platform: Polymesh Blockchain* Polymesh is a purpose-built blockchain platform tailored for the creation, issuance, management, and transfer of regulated security tokens. Unlike traditional blockchains which often treat security tokens as an afterthought, Polymesh is designed with the nuances and complexities of securities in mind, aiming to address regulatory concerns and streamline compliance processes for businesses in the securities industry.
POLYX is intrinsically tied to the Polymesh blockchain's functioning. It is used to pay for transaction fees, incentivize validators through staking rewards, and participate in governance mechanisms, ensuring the continued security and decentralization of the network.