What is the circulation amount of Polymath (POLY) coins?

POLY, an Ethereum-based token integral to Polymath's decentralized capital markets platform, enables transaction fee payments, governance voting, and staking rewards with its capped total supply and increasing circulating supply.

Dec 29, 2024 at 07:16 pm

Key Points

• Polymath (POLY) is an Ethereum-based token used to power the Polymath platform, a decentralized capital markets platform for issuing and managing security tokens.
• As of [Date], the circulating supply of POLY tokens is approximately [Number].
• The total supply of POLY tokens is capped at [Number].
• POLY tokens can be used to pay for transaction fees on the Polymath platform, to vote on governance proposals, and to stake in order to earn rewards.
• The price of POLY tokens has fluctuated significantly since its launch in 2018, but has generally trended upwards in recent years.

Circulating Supply

The circulating supply of a cryptocurrency refers to the number of coins that are currently in circulation. This number can change over time as new coins are created or destroyed. In the case of POLY, the circulating supply has been gradually increasing over time as new tokens are issued to pay for transaction fees and used to stake.

Total Supply

The total supply of a cryptocurrency refers to the maximum number of coins that will ever be created. This number is fixed and cannot be changed. In the case of POLY, the total supply is capped at 1 billion tokens. This means that there will never be more than 1 billion POLY tokens in circulation.

Utility

POLY tokens have a variety of utilities within the Polymath ecosystem. These utilities include:

• Paying for transaction fees on the Polymath platform
• Voting on governance proposals
• Staking in order to earn rewards

Price History

The price of POLY tokens has fluctuated significantly since its launch in 2018. The price reached a peak of over $1 in early 2018, but then fell sharply during the crypto market crash that year. The price has since recovered somewhat, but has remained relatively stable in recent years.

FAQs

• What is the difference between the circulating supply and the total supply of POLY tokens?

  • The circulating supply is the number of POLY tokens that are currently in circulation, while the total supply is the maximum number of POLY tokens that will ever be created.

• How can I buy POLY tokens?

  • POLY tokens can be purchased on a variety of cryptocurrency exchanges, including Binance, Coinbase, and Kraken.

• How can I store POLY tokens?

  • POLY tokens can be stored in a variety of cryptocurrency wallets, including hardware wallets, software wallets, and online wallets.

• What is the future of POLY tokens?

  • The future of POLY tokens depends on a number of factors, including the growth of the Polymath platform and the overall cryptocurrency market. However, there is a great deal of potential for POLY tokens to continue to grow in value in the coming years.