Polymath: Q2/2019 Network and Revenue Data Report – Jeff Gee
Activity reported is from the Ethereum Mainnet from both the Polymath Network Core 1.x.x and Core 2.1.0 platforms.
There are 15 contracts in the Polymath network Core 2.1.0 available on both the Ethereum Mainnet and Kovan networks. The SecurityTokenRegistry (Proxy) contract is new for v2.0.0, is the most active and is associated with contract creation.
New for Q2/2019 (April) is the v2.1.0 of the Polymath Network Core.
The basic workflow of using the Polymath network to create and manage an ST-20 contract starts with:
- Create an Ethereum contract ticker symbol. This is a 60 day temporary reservation of the ticker symbol. If not used against a ST-20 contract after 60 days, the symbol becomes available for anyone to use.
- Create a ST-20 contract.
At this point, the basic workflow is complete. However, the service user has the option to apply a number of modules to the contract. These modules are Solidity code methods that give ST-20 contract owners more options when conduction their STO or managing their security token’s life cycle.
Total number of ticker symbols reserved per month during Q2/2019: 43.
Total number of ticker symbols reserved per month during 1H/2019: 105.
Total number of ticker symbols reserved per month since the WE.R.LIVE ST-20 contract on July 30, 2018: 271.
Total number of non-test ST-20 contracts created per month during Q2/2019: 24.
Total number of non-test ST-20 contracts created per month during 1H/2019: 59.
Total number of non-test contracts created per month since the WE.R.LIVE ST-20 contract on July 30, 2018: 131.
Current wallet count per ST-20 from month contract was originally created in Q2/2019.
Current wallet count per ST-20 from month contract was originally created in 1H/2019.
Current wallet count per ST-20 from month contract was originally created since the WE.R.LIVE ST-20 contract on July 30, 2018.
Total Number of Wallets
Number of wallets per contract starting at the WE.R.LIVE ST-20 contract up to June 30, 2019: .
- 60.3% of the contracts created to date have 0 wallets and 0 tokens. There are 79 total.
- 18.3% of the contracts created to date have 1 wallet with > 0 tokens. There are 24 total.
- 7.6% of the contracts created to date have 2 wallets with > 0 tokens. There are 10.
- 7.6% of the contracts created to date have between 3 and 6 wallets with > 0 tokens. There are 10 total.
- 3.9% of the contracts created to date have => 20–50 wallets with > 0 tokens. There are 4 total.
- 2.3% of the contracts with wallet counts > 50 have: 127, 175 and 440 wallets respectively. The project associated with the contract with 440 wallets issued an airdrop of a security token, which explains the high count.
ST-20 Contracts with Highest Wallet Count
Revenue may be recognized when the POLY utility token is redeemed as payment to access a service on the Polymath network. When users pay for a service, revenue is assumed recognizable against deferred revenue from the Polymath Pre-Sale ICO.
The token value is determined by the closing day value of the POLY token. The POLY token is removed from the circulating pool of tokens when redeemed.
Ticker Symbol Reservation Revenue
Total amount of recognizable revenue from ticker symbol reservation per month during Q2/2019: $1,052.
Total amount of recognizable revenue from ticker symbol reservation per month during 1H/2019: $2,702.
Total amount of recognizable revenue from ticker symbol reservation per month since the WE.R.LIVE ST-20 contract on July 30, 2018: $11,381.
The below chart represents the cost of ticker reservations over time up to June 30, 2019.
ST-20 Contract Creation Revenue
Total amount of recognizable revenue from ST-20 contracts created per month during Q2/2019: $600.
Total amount of recognizable revenue from ST-20 contracts created per month during 1H/2019: $1,542.
Total amount of recognizable revenue from ST-20 contracts created per month since the WE.R.LIVE ST-20 contract on July 30, 2018: $4,921.
The below chart represents the cost of a contract over time up to June 30, 2019.
Template Use Revenue
There was $0 in template revenue in Q2/2019.
Total amount of recognizable revenue from template (1 Capped STO) use per month during 1H/2019: $1,884.
Total amount of recognizable revenue from template (4 Capped STO, 1 USD Tiered) use per month since the WE.R.LIVE ST-20 contract on July 30, 2018: $25,209.
The Polymath network requires the use of the POLY token to pay for the network’s services. POLY tokens are removed from the circulating supply of 472,089,933 tokens. A total of 282,500 have been removed since July 30, 2018.
The Polymath network fee schedule:
- 250 POLY to reserve a ticker symbol
- 250 POLY to create the ST-20 token contract
- 20,500 POLY for the ‘CappedSTO’ template
- 100,000 POLY for the ‘USD Pegged to Fiat STO’ template
Ticker Symbol Reservation Redemption
Total amount of POLY tokens removed from the circulating supply from ticker symbols reserved per month during Q2/2019: 10,750.
Total amount of POLY tokens removed from the circulating supply from ticker symbols reserved per month during 1H/2019: 26,250.
Total amount of POLY tokens removed from the circulating supply from ticker symbols reserved per month since the WE.R.LIVE ST-20 contract on July 30, 2018: 67,750.
ST-20 Redemption
Total amount of POLY tokens removed from the circulating supply from ST-20 contracts created per month during Q2/2019: 6,000.
Total amount of POLY tokens removed from the circulating supply from ST-20 contracts created per month during 1H/2019: 14,750.
Total amount of POLY tokens removed from the circulating supply from ST-20 contracts created per month since the WE.R.LIVE ST-20 contract on July 30, 2018: 32,750.
Template Use Redeemed
There were 0 POLY tokens redeemed for template use purchases in Q2/2019.
Total amount of POLY tokens removed from the circulating supply from template use purchases per month during 1H/2019: 20,500.
Total amount of POLY tokens removed from the circulating supply from template use purchases per month since the WE.R.LIVE ST-20 contract on July 30, 2018: 182,000.
Accompanying the ST-20 contract are 13 modules that ST-20 owners can apply to their security token. Use of modules demonstrates the intensity at which its ST-20 contract owners interact with their security. In effect, these modules are features that enable various types of functionality.
Of all the modules, only one appears mandatory for each ST-20 contract: GeneralTransferManager.
Of all the ST-20 contracts created to date, only 5 non-mandatory modules have been utilized. Module use can be found in the event log of each ST-20 contract.
Published at Tue, 02 Jul 2019 00:33:29 +0000