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Alcyone Release Notes: December 2020

By Polymath

The holiday season brings us one month closer to the launch of Polymesh mainnet, with December bringing some significant releases getting to the heart of practical elements currently missing for security tokens on blockchain. We see these as table-stakes usability features that those familiar with traditional securities will demand. It’s features and functionality like this that will help the Polymesh blockchain meet the market expectations necessary to drive security token adoption and acceptance. 

uID Scope Feature 

A simple solution to a significant blockchain problem. Depending on the type of issuance, issuers must remain compliant by having a maximum number of people that can hold their assets, and their tokenholders may be limited in the total value of the asset they are able to hold.  This information can be obscured on blockchain should a tokenholder hold tokens across multiple accounts or wallets. 

Polymesh removes this challenge with uID Scope. With this feature, tokenholders must confirm the uID their accounts belong to, ensuring that all holdings of an asset are associated with a single person or entity.

How to test: 

This one's a bit tricky to test since it needs an issuer and tokenholder. The easiest way is to have a friend send you a security token they’ve created. Alternatively, you can create 2 DIDs, using one to create a token, distributing the token to your 2nd DID. Once you have access to the token,  go to the Polymesh Dashboard and click manage uID scope.

 

Token Access Controls

Issuers can share access for different responsibilities of security token management with internal (e.g. Legal, Finance) and external (e.g. Transfer Agents) stakeholders, mirroring the experience and delegation of traditional securities. By permitting various stakeholders token management responsibilities, issuers can ensure the right expertise is applied where necessary. 

How to test: 

Go to the Access Controls tab for your token in the Polymesh Token Studio.

 

Portfolio Access Controls (Portfolio Managers)

Similar to token access controls, portfolio access controls permit others to manage portfolios, but in a limited way. Delegates can send and accept tokens, but cannot edit settings of the portfolio.

How to test: 

Go to the Polymesh Dashboard, create a portfolio, and add a secondary key as portfolio manager. 

 

Token Rule Exemptions 

Turn token rules off for primary issuances, a feature users of traditional securities will expect on blockchain but doesn’t currently exist. Specific types of issuances require this flexibility for differences in the rules between primary and secondary issuances, reducing manual token management through blockchain automation. 

How to test: 

Go to the compliance page for your token in Polymesh Token Studio and use the exemption toggle. 

 

Notifications and User Profiles

Receive email notifications upon completion of major events for your security token including ticker reservation, token configuration, minting, and token distribution. Add up to 10 emails to keep your stakeholders in the loop. 

How to test: 

To set up notifications, go to Token Studio where you’ll be prompted when you arrive. 

 

Each of these Polymesh features are released and available to test on the Alcyone Testnet through the links above. If this is your first time testing, learn more about how to get started

Looking for a feature that has yet to be released or have feedback on what you’ve already seen? Tell us more about what you think.

Tags: Product News

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