When was the Polymath (POLY) coin issued?

Polymath (POLY) underwent its Initial Coin Offering (ICO) on January 17, 2018, raising approximately $59 million.

Dec 26, 2024 at 04:51 pm

Key Points

• Polymath (POLY) Initial Coin Offering (ICO) Details
• Market Performance of Polymath (POLY)
• Polymath (POLY) Use Cases and Partnerships
• Polymath (POLY) Tokenomics and Distribution
• Factors Influencing Polymath (POLY) Price

When was the Polymath (POLY) coin issued?

Polymath (POLY) underwent its Initial Coin Offering (ICO) on January 17, 2018, raising approximately $59 million. The ICO offered 500 million POLY tokens at a price of $0.12 per token.

Market Performance of Polymath (POLY)

Upon its launch, Polymath (POLY) experienced significant price fluctuations. It reached an all-time high of $1.28 on January 31, 2018, just two weeks after its ICO. However, the token's price quickly declined in subsequent months, hitting a low of $0.09 in December 2018.

Since then, POLY has shown some recovery, trading between $0.40 and $0.70 for much of 2020 and 2021. In 2022, the token's price experienced a significant uptrend, reaching a high of $1.45 in March 2022. However, the ongoing market downturn has since pushed POLY back down to around $0.40 as of August 2023.

Polymath (POLY) Use Cases and Partnerships

Polymath (POLY) is a platform that enables the creation and issuance of security tokens (STO). STOs are digital tokens that represent ownership in real-world assets such as stocks, bonds, and real estate.

Polymath's technology provides a compliant and regulatory framework for STO issuance, aiming to bridge the gap between traditional finance and blockchain. The platform also offers a range of tools and services to support the entire STO lifecycle, including token creation, issuance, and management.

Over the years, Polymath has established partnerships with several notable companies in the cryptocurrency industry, including Binance, Bittrex, and Coinbase. These partnerships aim to enhance the liquidity and accessibility of POLY tokens and facilitate the adoption of security tokens.

Polymath (POLY) Tokenomics and Distribution

The total supply of Polymath (POLY) tokens is 1 billion. Out of this, approximately 41% was sold during the ICO, while the remaining 59% is held by the Polymath Foundation and early investors.

POLY tokens serve as the primary utility token within the Polymath ecosystem. They are used to pay transaction fees, incentivize network participation, and access premium features on the Polymath platform.

Factors Influencing Polymath (POLY) Price

Several factors can influence the price of Polymath (POLY), including:

• Overall cryptocurrency market trends: The broader cryptocurrency market significantly influences the price of all crypto assets, including POLY. Bullish or bearish market conditions can drive POLY's price higher or lower.
• Regulatory developments: Regulatory clarity surrounding security tokens and STOs can positively impact the demand for POLY and drive its price up. However, uncertain or unfavorable regulatory environments can have the opposite effect.
• Adoption and use cases: Increasing adoption of Polymath's platform for STO issuance and management can enhance the utility of POLY tokens, potentially driving up their demand and price.
• Competition: The emergence of alternative platforms offering similar services to Polymath can create competition and potentially impact POLY's price.
• Team and development: The track record, expertise, and ongoing development efforts of the Polymath team can influence investor confidence and influence POLY's price.

FAQs

• What is Polymath (POLY)?
  Polymath (POLY) is a platform enabling the creation and issuance of security tokens (STOs). It provides a compliant and regulatory framework for STOs, bridging the gap between traditional finance and blockchain.
• What is the total supply of Polymath (POLY) tokens?
  The total supply of Polymath (POLY) tokens is 1 billion.
• What factors influence the price of Polymath (POLY)?
  Factors influencing the price of Polymath (POLY) include overall cryptocurrency market trends, regulatory developments, adoption and use cases, competition, and the team and development efforts.