Based on the latest announcement from the Binance exchange – where ONUS takes liquidity for POLY, this project will make the redenomination from Polymath (POLY) to Polymesh (POLYX). All POLY tokens will be converted to POLYX tokens at a ratio of 1:1 (1 POLY =1 POLYX).
To aid in this conversion, ONUS will halt all trading in POLY assets, including Off-chain transactions and Exchange.
Maintenance time: From 03:00 AM UTC October 10th to 08:00 AM UTC on October 17th, 2022.
On October 17th, 2022, full functionality for POLYX assets will be restored when the maintenance progress is completed.
About Polymath and POLY Token
Polymath provides technology to create, issue, and manage digital securities on the blockchain. Thanks to the support from the Polymath ecosystem, businesses can directly participate in the stock market and call for investment capital through the form of STO (Security Token Offering) while still ensuring time and cost savings.
Polymath aims to become an open-source platform to help issue stock codes in full compliance with KYC/AML (Know your Customer/Anti Money Laundering).
POLY is a utility token of the Polymath ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
- Pay deposit/withdrawal fees, transaction fees, and developer fees.
- Pay the fee for creating and issuing securities tokens.
- Upgrade to POLYX at a 1:1 ratio to fuel the Polymesh chain, stake, or vote for proposals.