Why could POLY tokens themselves not be used as gas

Question

Polymath

Anuj Sanghvi

Why could POLY tokens themselves not be used as gas

fee on polymesh?

#blockchain #cryptocurrency #english #matic

0

14.05.2022

4 ответов

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Anuj Sanghvi Автор вопроса

The Great Gatsby
Because POLY tokens are erc20 tokens on the ethere...

i understand now. thanks

0

14.05.2022

Alan

Anuj Sanghvi
i understand now. thanks

You have to understand that the goal of Polymath and Polymesh are the same. Polymath determined that a general-purpose blockchain like Ethereum would not be sufficient for STOs so they developed their own L1 chain. Polymesh is designed specifically for the issuance of STOs. There are primatives built into the chain to meet the regulatory standards of securities. That's why you have to KYC before you can hold POLYX. Polymath on Ethereum was version 1, and Polymesh is the much improved version 2. You are getting in early if you convert your POLY to POLYX. The staking rewards are high right now, and well worth the illiquidity, but this is a long-term investment so patience is needed. The STO market itself is still in its infancy.

0

14.05.2022

Anuj Sanghvi Автор вопроса

Alan
You have to understand that the goal of Polymath a...

yeah this is a long term hold for sure. i realize the need to move to POLYx now.

0

14.05.2022

The Great Gatsby · Accepted Answer

The Great Gatsby

Because POLY tokens are erc20 tokens on the ethereum blockchain. POLYMESH is a different blockchain and uses POLYX as the native tokens with which you pay gas fee

0

14.05.2022

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Why could POLY tokens themselves not be used as gas

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