This week, Polymath, a leader in the tokenization sector, released its highly-anticipated supporting SDK documentation. The information allows developers to build upon the firm's applications through a simple but complete interface. In this way, the firm allows developers to leverage the powerful toolset that Polymath developed over the last couple of years.
According to company executives, the main focus of the SDK was to simplify the entire tokenization experience. The firm wanted to distance developers from the “complexities of smart contracts.” In their quest to accomplish this task, Polymath created a feature-rich, user-friendly Node.js library that goes far beyond the competition.
SDK Documentation Feedback
Discussing the move, developers described the excitement around the first release. Specifically, the firm is eager to get its documentation in the hands of the public for feedback. This feedback will be priceless in the firm's quest to streamline the entire tokenization process.
Polymath's open-source SDK is a game-changer in the industry. Much like the early days of cryptocurrencies, Polymath understands the importance of developers in the sector. Developers are the gears that create the momentum to move the market forward. As such, the firm put special attention to creating a valuable resource for the market.
The SDK documentation provides you with everything you need to know to start your tokenization strategy. The information includes numerous tutorials on how to work with the platform from the front-end application. The documentation focuses on the six most important functions of the protocol.
In this section, developers instruct you on the nuances of token creation. The documentation encompasses the entire process including developing the specifics of your token. You will learn how to reserve a token symbol, pick a token name, attach token details with a URL, and specify other important details of your concept.
This section allows you to approve specific addresses to hold your tokens. This process would work with your modules to ensure that only approved addresses can hold tokens. Here, you would incorporate any jurisdictional regulations into your tokens protocol. Importantly, the SDK requires an Ethereum address to function.
In the Permissions section, you get to decide who else has administrative access to your project. You can delegate access to any members of your team such as accounting firms, dividend administrators, or token holder administrators. This strategy is critical when developing large scale projects.
Minting is the process of creating your token. Polymath has made this extremely simple. You just choose the specific address to mint too and the tokens are sent directly there. It doesn't get easier than that.
Now that you have a token ready to go, you can start the STO process. Polymath's SDK documentation shows you exactly how to set parameters for your project. You can choose different protocols for a plethora of key aspects of your event. Choose items such as accredited vs. non-accredited token holder limits, pre-issuances details, tiered sales, and much more. Finally, you can set what currencies to accept. Notably, the platform allows ETH, POLY, or a wide selection of stablecoins. Additionally, nearly all fiat currencies are accepted.
Polymath SDK Documentation
This latest release is sure to catapult Polymath ahead of the competition. The firm seeks to create an STO development community around the platform. If successful, Polymath is sure to gain the lion's share of the market moving forward. For now, you can download Node.js and start building today.