Thread by @tonymo0ntany

1/
POLIMEC

A @Kiltprotocol & @MoonbeamNetwork joint venture

Currently theres no way to issue pre currencies on #DOT or #KSM

Polimec tackles this problem and enables projects to issue pre currencies on #KSM or #DOT before their mainnet goes live

Thread 👇

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With the succes of $KSM & $DOT we saw foul players enter the market, pivoting on the #DOTSAMA name

Most launched as an erc-20 token and had absolutely nothing to do with Dotsama

We've also seen legitimate projects who out of necessity chose to issue a pre token as erc-20

3/
This way they could reward their early supporters through staking possibilites

Example:
I've been staking my @hydra_dx (HDX) since shortly after the LBP in febr 2021 & they are going live as a parachain soon

For these type of projects Polimec is going to be
the answer

4/
Polimec can be seen as a erc-20 token but on $KSM or $DOT and with more possibilities

- Will be a parathread of the Polkadot blockchain

- Exchanges can connect to Polimec and list all currencies deployed there

- Fee is paid in the currency that is being transferred

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- Utilizes @Kiltprotocol issuance, proof and verifcation of KYC or AML credentials

- Massive boost for #KILT adoption; @Kiltprotocol @social_kyc @Sporranwallet

- The currency issuer pays a significant registration fee

- Also other methods in play to keep out bad actors

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- Allow issuance of security tokens

- Allows for complex ICO's, aidrops etc.

- Allows for easy migration to mainnet

- Polimec could also allow for other non substrate based tokens to use it ($USDT? $DAI? etc)

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- All while being KYC'd using $KILT credentials and being fully compliant

- Regulators are firing live rounds on CT and so for alot of (new) project Polimec will be the safest bet

https://twitter.com/tonymo0ntany/status/1509945274227216386?s=20&t=eMatUw8Fbu2rSQOzJ7W1pQ

8/
Polimec is intended to go live EOY, undoubtedly we'll be starting to hear more about it in the months to come

For more info check out



kilt.io/learn/polimec/

The video is pretty old and Polimec is in ongoing development so things might have changed