MyCointainer to Participate in On-chain Activities of Polymesh Network
We are thrilled to announce that MyCointainer will collaborate with Polymesh to integrate its institutional–grade permissioned blockchain and the native token $POLYX into the platform.
We are thrilled to announce that MyCointainer will collaborate with Polymesh to integrate its institutional–grade permissioned blockchain and the native token $POLYX into the platform. The initiative will help overcome the challenges facing security tokens, while the community supporting the project can participate in staking and earn $POLYX rewards.
Project in a Nutshell
Polymesh is an institutional-grade public permissioned blockchain specifically for regulated tokenized assets. Its purpose-built infrastructure is designed to address institutional needs to drive acceptance and adoption of security tokens. Polymesh incorporates 5 key pillars: governance, identity, compliance, confidentiality, and settlement.
POLYX was specifically designed as a utility token under Swiss laws, after collaborative conversations with the Swiss Financial Regulator FINMA.
Used on Polymesh, Nominated Proof-of-Stake (NPoS) is a consensus mechanism that defines how node operators can participate in the chain’s protocol and validate new blocks. It consists of two main actors: stakers (users who stake on operators) and node operators (entities authorized to run validator nodes). On Polymesh, node operators and stakers work together, with stakers helping node operators increase their chance of receiving rewards from validating blocks.
Anyone who wants to participate in the Polymesh blockchain must undergo a KYC process. Polymesh requires a verified identity for all participants, from token issuers and investors to the node operators. This prevents pseudonymous entities from participating in the network to receive rewards and ensures a high level of security.
MyCointainer and the Polymesh work plans
MyCointainer accomplished the process of having its identity verified together with the KYC/AML process. In order to be recognized as a regulated institution, we completed official onboarding through the Polymesh Association. Now, we're able to offer full Polymesh services to MyCointainer users and benefit from the reward opportunities.
The $POLYX token will be listed on MyCointainer, which makes the asset accessible for earning staking rewards. With the recent platform upgrade, users can easily navigate Polymesh's staking functionality, such as crypto deposits on MyCointainer without any technical troubles. The majority of assets staked on MyCointainer generate daily rewards that compound over time.
MyCointainer will also add $POLYX in the built-in Exchange with trading pairs of BTC, USDT and major cryptocurrencies, as well as EUR and other fiat pairs. Users can trade and have the lowest buy/sell rates, with supplementary bonus coins for every successful transaction.
We will open the cold staking application to our customers, who would prefer to store their tokens in their own wallets. This gives our users the opportunity to choose a more decentralized approach that gives the same rewards, simultaneously offering the highest security.
Polymesh node deployment will be part of MyCointainer's business solution. We will facilitate the node infrastructure and applications, allowing financial institutions and developers to create and run their own Polymesh node using the latest developer tools of MyCointainer.
Why should you invest in Polymesh Network?
Polymesh lets institutions participate in the securities market, bridging the gap between off-chain traditional securities (e.g. certificated shares), and represents the asset on-chain as a "tokenized security." This innovation brings benefits, including increased efficiency through automation and transparent record keeping.
MyCointainer, as a regulated digital financial institution, can interact with Polymesh developments and may potentially integrate the tokenization asset into the platform in the near future. Also, users of Mycointainer will have an easy way to use this application and earn from the network.
MyCointainer and Polymesh are taking advantage of the blockchain while remaining compliant. The adoption of security tokens is evolving, and so are the use-cases. The Polymesh community will continue to engage with the project because it shows true purpose and the monetary benefits from staking the token.
Learn more about the project
- Website: https://polymesh.network/
- Twitter: https://twitter.com/PolymeshNetwork
- Discord: https://discord.com/invite/Z9MAUtYaG7
- Blog: https://polymesh.network/blog