Polymath (POLY) Wallet

Polymath is a security token issuing platform built upon the Ethereum blockchain. It was created by Trevor Koverko and Chris Housser in 2017, and the STO of Polymath was registered with the U.S. Securities and Exchange Commission under SEC Rule 506(b). Generally, Polymath becomes the first token to be fully SEC-compliant, and its goal is to help other projects to create their digital assets as such.

Polymath focuses on passing KYC/AML and other legalities. Simply put, it allows you to issue your digital security without any interactions with the SEC and do nearly nothing to pass the SEC's validations. The platform consists of four layers: Protocol, Application, Legal, and Exchange:

1. The Protocol layer is a smart contract with all terms of the project;
2. The Application layer is where one can create a security token.
3. The Legal layer serves for governance topics and creating templates.
4. The last one – Exchange – is like Bitcoin's digital ledger. It's a place where all transactions are recorded.

In transactions within the Polymath network participates three types of users: investors, developers, and issuers:

1. Issuers are those who create and issue security tokens. They pay a fee in POLY tokens for this;
2. Investors pay POLY tokens for KYC/AML verifications and transactions fees;
3. Developers only get a reward in POLY for keeping the network updated and secure.

POLY token fuels the entire platform of Polymath. It can't be mined. However, it can be staked as soon as Polymath is a Proof of Stake-based blockchain. 240,000,000 POLY were quickly airdropped after the network launch, 760,000,000 more retained by the team for maintaining further development.