PolymeshPrice

(POLYX)

Polymesh (POLYX) is a specialized Layer 1 public permissioned blockchain built specifically for regulated assets like security tokens and real-world assets (RWAs). Its unique architecture emphasizes compliance, identity, and governance, making it an ideal platform for institutional-grade digital securities. POLYX is the native utility token used for transaction fees, participating in the Nominated Proof-of-Stake (NPoS) consensus mechanism through staking, and contributing to the network's decentralized governance.

POLY was the original ERC-20 token on the Ethereum blockchain, supporting the project as a Layer 2 application. POLYX is the native coin of the independent Polymesh Layer 1 blockchain. This migration was a strategic move to build a blockchain specifically optimized for regulated assets. It enabled Polymesh to integrate critical features like on-chain identity, compliance rules, and a dedicated consensus mechanism directly into the blockchain's core, which wasn't fully achievable as an ERC-20 token on a general-purpose chain.

Yes, the one-way "POLY to POLYX Upgrade Bridge" remains operational, allowing holders of the legacy ERC-20 POLY token to convert their assets to the native POLYX coin on the Polymesh mainnet. This process is irreversible: once POLY tokens are upgraded, they are permanently locked on the Ethereum chain, and an equivalent amount of new POLYX is minted on the Polymesh blockchain. This continuous support ensures users can transition to the native network.

Polymesh uses a Nominated Proof-of-Stake (NPoS) consensus mechanism. POLYX token holders (nominators) can stake their tokens by "backing" licensed node operators who validate transactions and secure the network. Rewards are distributed daily to both nominators and node operators. A crucial aspect is the 28-day unbonding period. If a nominator decides to stop staking, their POLYX tokens will be locked and inaccessible for 28 days before they can be fully withdrawn and moved.

KYC requirements on Polymesh depend on the specific activity. To simply hold, transfer, or stake POLYX, a full Customer Due Diligence (CDD) claim is not strictly necessary. However, for the core purpose of the chain—issuing or trading regulated security tokens and other real-world assets—completing a KYC process is mandatory. This verification leads to the creation of a unique, verified on-chain identity (DID), essential for engaging with regulated assets in compliance with financial regulations.

A distinctive feature of Polymesh is its stringent requirements for node operators. Unlike many other blockchain networks, all node operators on Polymesh must be licensed financial entities. These entities undergo a rigorous vetting process to ensure they meet regulatory standards and possess the necessary operational expertise. This requirement underpins Polymesh's focus on compliance and security for regulated assets, ensuring that the network's infrastructure is managed by trusted and accountable professional organizations, which enhances institutional adoption.