Security Token Startup Polymath Locks up 75 Million Tokens
Polymath, a platform for launching security tokens, is flexing its treasury-management muscles by locking up 75 million of its own POLY tokens.
As part of the transition, Parity has agreed to build certain business-logic features on Polymesh’s base layer.
Polymath is partnering with Charles Hoskinson to build a blockchain network specifically designed to support security tokens.
Currently, the tokens are only available in pre-sale. Red Swan is holding investors’ funds in escrow and plans to distribute shares in April.
Polymath has partnered with digital securities fundraising platform seriesOne to offer an “end-to-end” solution for security token issuance.
Polymath says its tests showed security token trades on a decentralized exchange would only complete if authorized.