Polymesh: A Blockchain Platform Committed to the Tokenization of Real Assets

Project Background

Polymesh is a blockchain platform specifically designed for the tokenization of real assets, aimed at addressing the challenges of compliance, scalability, privacy protection, and governance present in existing public chains. Real asset tokens are digital securities that represent physical assets or rights, such as stocks, bonds, funds, and real estate. This tokenization has the potential to transform the way traditional financial markets operate, increasing efficiency, reducing costs, and enhancing liquidity and transparency.

However, the development of real asset tokens faces some obstacles, mainly because the existing public chain platforms are not suitable for carrying their characteristics and needs:

1. Compliance: Public blockchain platforms often lack regulatory support and compliance tools for real asset tokens, making it difficult for issuers and holders to adhere to the legal requirements of different jurisdictions.

2. Scalability: Public blockchain platforms are often limited by their consensus mechanisms and network capacity, affecting transaction efficiency and user experience.

3. Privacy Protection: Public blockchain platforms often adopt a completely transparent ledger model, which may lead to issues such as privacy breaches, market manipulation, and competitive risks.

To address these issues, Polymath launched the Polymesh project in 2019, creating a blockchain platform specifically designed for tokenizing real-world assets.

Project Introduction

Polymesh is a customizable, upgradeable, and interoperable blockchain platform built on the Substrate framework. It incorporates various innovative designs and features to meet the specific needs of the real asset tokenization space:

1. Compliance: Polymesh provides a comprehensive compliance framework and tools, including identity registration, permission management, compliance committees, and compliance rule engines. These features enable real asset token issuers and holders to easily comply with various laws and regulations, and to make adjustments and updates when necessary.

2. Scalability: Polymesh adopts the BABE Proof of Stake (PoS) consensus mechanism to achieve efficient, secure, and decentralized block production. It also utilizes the GRANDPA finality protocol for fast, definitive, and adaptable block confirmation. These technologies enable Polymesh to achieve a processing capacity of thousands of transactions per second.

3. Privacy Protection: Polymesh adopts the Confidential Security Tokens (CST) mechanism, based on zero-knowledge proof technology, which allows for partial or complete confidentiality of real asset tokens. Thus, transaction data and holder information can be selectively disclosed or hidden according to different needs.

4. Governance: Polymesh adopts the Politeia governance model to achieve a fair, transparent, and democratic governance process. This mechanism, based on voting weight and proxy weight, allows participants of different types and sizes to initiate proposals, express opinions, and engage in decision-making on the platform.

On-chain data

As of the latest data:

• Block height: 9,515,977
• Signed Transactions: 63,694
• Total Token Supply: 847.136 M
• Staking amount of tokens: 405.87 M
• Staking Rate: 47.9%
• Inflation Rate: 10.36%

POLYX is the native token of the Polymesh platform, used for paying transaction fees, participating in staking, and governance.

Team Introduction

The Polymesh project is led by Polymath, which focuses on the development and operation of the project. The company was founded in 2017 and is headquartered in Toronto, Canada, specializing in the tokenization of real assets. Polymath has a team of experienced professionals in finance, blockchain, and legal fields.

Core members include:

• Trevor Koverko: Founder and CEO, former professional hockey player, and later became a serial entrepreneur and angel investor.
• Chris Housser: Co-founder and Chief Operating Officer, seasoned lawyer and entrepreneur, has worked in legal consulting and project management across various fields.
• Thomas Borrel: Chief Product Officer with over 20 years of experience in fintech, having held senior positions at several well-known financial institutions and tech companies.

Summary

Polymesh, as a blockchain platform designed specifically for real assets, aims to address the challenges of compliance, scalability, privacy protection, and governance faced by existing public chains. It incorporates various innovative designs and features, including identity registration, permission management, compliance committees, CST mechanism, BABE consensus mechanism, GRANDPA finality protocol, and Politeia governance model. Polymesh is expected to become a leader and innovator in the secure token space, bringing revolutionary changes to traditional financial markets.