If a low-cap altcoin doubled its price in just a week after a huge milestone. Cryptocoin. com, we have compiled the strong rise of Polymath (POLY) and its reasons for you, let’s examine it together…
Altcoin project Polymath (POLY) had its price in a single week!
Altcoin project Polymath (POLY) is telling its 50,500 Twitter followers that its Polymesh Incentivized Testnet (ITN) has been upgraded to a new version. The update paves the way for the availability of decentralized applications (DApps) on the protocol’s testnet.
Polymath is a security token platform that allows users to create, issue and manage digital securities on the Blockchain. According to a Polymath blog post, the Polymesh Incentive Testnet is getting them closer to launching the mainnet this year.
The Polymesh Incentive Testnet marks the next step in the march towards the launch of the Polymesh mainnet. From Polkadot to Cosmos, ITNs are a proven way of killing two birds with one stone. Its on-chain functionality enables community engagement while stress testing.
POLY pointed to a big move of 267% in just one week
The project is currently in the middle of organizing “Running With the Bulls,” a series of features that allow participants to test the core features and functionality of Polymath and win prizes. POLY, which was added to the US-based Coinbase last July, rose from a seven-day low of $0.34 to $1.25, marking a big move of 267% in just one week. The coin has since pulled back and is currently trading at $0.76.
What is the cryptocurrency project Polymath (POLY)?
Polymath simplifies the legal process of creating and selling security tokens. It makes ST20, a new token standard, and enforces government compliance. Only “authorized investors list and Ethereum wallet addresses” can hold ST20 tokens. Therefore, token issuers need not worry about the legal consequences of security tokens falling into the wrong hands.
Polymath platform brings together issuers, legal delegates, smart contract developers, KYC verification and a decentralized exchange to launch a legally compliant token. All transactions on the Polymath platform are carried out using the native POLY token.
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