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Polymesh News
November 11, 2021

Polymesh onboarding and the POLY:POLYX Bridge are live! | Polymesh

User Interfaces for Polymesh Mainnet and the POLY:POLYX Upgrade Bridge are now both live, meaning Polymesh is officially ready for users!

We're thrilled to share that both User Interfaces for Polymesh Mainnet and the 1:1 POLY:POLYX Upgrade Bridge are now live, meaning Polymesh is officially ready for users! 

Users can now onboard to Polymesh through one of its designated customer due diligence providers and use the chain to create, issue, and manage security tokens, as well as participate in on-chain activities like governance and staking.

Users can also claim any ITN rewards as well as upgrade their POLY tokens to POLYX through the POLY:POLYX Upgrade Bridge.

As the first public, permissioned blockchain built specifically for regulated assets, the Polymesh Mainnet marks a huge step forward when it comes to accelerating security token adoption. By incorporating capital market needs like identity and compliance into its core layer, Polymesh makes it much easier to meet regulatory requirements, ultimately enabling more market participants to benefit from tokenization.

In fact, Polymesh is already garnering regulatory reputability with its native protocol token POLYX recently being designated a utility token under Swiss laws (based on guidance provided by the Swiss financial regulator FINMA). 

Polymesh launched on October 28, 2021 with a global community of 14 financially regulated entities operating nodes, with plans to continue onboarding new operators, customer due diligence providers, and service providers. Information about the network can be viewed on the Polymesh Stats Page or with Subscan’s Polymesh Block Explorer

Leading up to Mainnet launch, the Polymesh Incentivized Testnet (ITN) had over 4,300 unique verified users and 12 verified capital markets participants operating nodes. 

For a full picture of why a purpose-built chain is better for securities, read up on our origin story and discover the benefits of security tokens

Get started with Polymesh

Getting started on Polymesh is easy and involves 3 key steps. 

  1. Get the Polymesh Wallet – a Google Chrome extension that enables your browser to interact with the Polymesh network
  2. Get Verified –  every users needs to pass a minimal identity verification check as part of the network’s customer due diligence (CDD) requirement
  3. Get POLYX – the native token for executing transactions and voting on governance proposals.

As part of the launch process, the Polymesh Association is deploying a 1:1 POLY:POLYX upgrade bridge for users to upgrade POLY to POLYX. Aside from the one-way bridge, there will be no newly minted supply except for rewards as part of the consensus validation process. Click here for information on how to use the POLY to POLYX Upgrade Bridge.

Want to claim your ITN rewards for Polymesh? Check out our knowledge base guide

For more on how to get started building on Polymesh, visit the developer portal. 

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