Polymesh v8 is live on Mainnet: permissionless onboarding, frictionless transfers, account-level asset holding, EVM smart contracts, and Confidential Assets on Testnet.
Polymesh v8 is now live on Mainnet. It's the largest upgrade to the network since launch, and it touches most of the core systems: onboarding, settlement, asset holding, smart contracts, and hardware wallet support. Much of it is aimed at removing long-standing friction for users and developers while keeping the identity and compliance model that Polymesh is built around.
Simpler onboardingUntil now, joining Polymesh meant going through a CDD Provider. You completed identity verification and received a CDD claim before you could do much of anything. In practice this often meant sitting through two onboarding flows: one for the chain, and another for the application or asset you actually wanted to use.
v8 removes the CDD claim requirement. Any account can now register an identity (DID) for itself directly on-chain, with no intermediary involved. CDD Providers have been renamed to DID Registrars, and they still work the way you'd expect: they can onboard identities on behalf of users who want a managed experience, and businesses that need verified-identity workflows can continue to layer those on with claims.
For new users and developers this is a much shorter path onto the network. For institutions, nothing is lost. Registrar-based onboarding is still there for anyone who wants it.
Automatic receiver affirmationIn previous versions, settlement instructions waited on the receiver's affirmation by default. This prevents unwanted transfers, but it adds a step before assets can settle, and it tends to surprise anyone coming from other blockchain ecosystems where transfers simply land in your account.
In v8, receiver affirmation is automatic by default. When assets are sent to you, they settle without you having to approve them first. Workflows that need explicit receiver approval can opt back in on a per-identity basis, which some institutional flows will want to do.
If you build applications on Polymesh, this deserves a close look. Any code that assumes incoming transfers require the receiver's approval should be reviewed.
Assets held directly on accountsPolymesh has always organized holdings through identity-owned portfolios. In v8, accounts (signing key public addresses) can also hold assets directly, both fungible tokens and NFTs, with no portfolio involved. A new transfer method moves funds between any combination of accounts and portfolios without creating a settlement instruction.
Portfolios remain fully supported and are still the right model for institutional setups that need shared control through secondary keys. Developers can now choose whichever ownership model fits their application.
v8 also adds allowances: an account can authorize another account or a smart contract to move a set amount of its assets within limits it defines. Anyone who has worked with ERC-20 tokens will recognize the approve-and-spend pattern. It makes delegated and contract-driven workflows possible without handing over signing authority.
EVM smart contractsv8 brings EVM compatibility to Polymesh through a new dual-VM contract engine. Solidity contracts can run either as native PolkaVM bytecode or as standard EVM bytecode in a full EVM environment. A new Ethereum JSON-RPC proxy lets MetaMask, ethers.js, and other standard Ethereum tooling talk to Polymesh contracts directly.
Solidity developers can now build and deploy on Polymesh with the tools they already know. This release lays the groundwork; direct access from contracts to Polymesh's native identity, compliance, and settlement features is a major focus of ongoing development, and we'll share more as that work progresses.
Confidential Assets on Testnetv8 introduces Confidential Assets, currently on Testnet. They use zero-knowledge proofs to keep the sender, receiver, asset, and amount of a transfer private, while retaining the auditor and mediator controls that regulated markets require.
Confidential Assets are available on Testnet today for experimentation and feedback. They are disabled on Mainnet while development, testing, and auditing continue. We'll publish more on this in the coming weeks.
Better hardware wallet supportv8 adds a metadata-hash-based signing scheme that lets generic signers, including the generic Polkadot Ledger app, decode and display full Polymesh transaction details. Your Ledger can now show you exactly what you're signing, and because verification runs against the runtime's own metadata, it keeps working as the network evolves. The dedicated Polymesh Ledger app is being updated to support the same scheme. Existing accounts and derivation paths continue to work.
Under the hoodv8 also retires several custom components in favor of standard, widely audited Polkadot SDK implementations, including the balances and staking systems. Most users won't notice a difference day to day, but Polymesh now benefits directly from upstream improvements and security review across the broader Polkadot ecosystem, and works better with standard tooling.
What to do nextIf you're a user, the easiest way to see the difference is to onboard fresh. Creating an identity and holding an asset is now a much shorter process.
If you're a developer or run infrastructure against the chain, be aware that v8 is a major release with real breaking changes. Call indices, event shapes, and storage layouts have moved. We've published a full migration changelog covering every pallet; start there before you upgrade.
Thank you to everyone who tested, filed issues, and ran nodes on Testnet throughout the v8 cycle. We're looking forward to seeing what you build.
Read the full v7.4 → v8.0 changelog on the developer portal
ONDO is one of the RWA tokens attracting huge attention. Whale activity spikes amid tokenization spree. Data shows whales are buying tokens such as Polymesh, Pendle and TokenFi. Ondo Finance has surged into the top 100 cryptocurrencies by market cap amid upside momentum for its native token ONDO.
On Monday, March 25, the price of ONDO rose to a new all-time high of $0.9702. Intraday gains at the time of writing was 15%, while Ondo Finance has surged more than 88% this past week and over 116% in the last 30 days.
ONDO price hovered around $0.8997 at the time of writing.
ONDO surges amid whale activity The real-world-assets (RWAs) space is one of the hottest crypto segments today, with multiple projects in the sector rallying amid unprecedented surge in interest and investment.
Whales or large investors have aggressively looked to add to their positions in RWA related coins.
Ondo Finance’s growth in the RWA ecosystem has seen large investors take notice. Data shared by Lookonchain shows large withdrawals of ONDO from exchanges. This includes 6.53 million ONDO from Bybit last month and 2.9 million ONDO from Gateio earlier today
Ondo Finance announced the launch of Ondo Global Markets in February. The mission is to bring publicly-traded securities on-chain, offering native access to traditional securities.
Meanwhile, the price of Ondo recently jumped by more than 40% as the market reacted to news around BlackRock’s USD Institutional Digital Liquidity Fund.
Other than ONDO, other tokens witnessing huge attention across the space are Centrifuge, Polymesh, Pendle and TokenFi. Polymesh’s price has jumped 87% this past week, while TokenFi’s price has jumped 160%.
According to data from CoinGecko, the RWA market cap has increased by more than 17% in the past 24 hours to over $6.6 billion. The 24-hour trading volume for the sector is over $1.16 billion.
Real World Asset (RWA) sector has seen a significant surge in interest following the world’s largest asset management company BlackRock’s recent entry into the tokenized asset market with its USD Corporate Digital Liquidity Fund (BUIDL). Experts are now pointing to Ondo (ONDO), MANTRA (OM), and Polymesh (POLYX) as the top picks for potential significant gains within the year. According to experts, these altcoins should be in the portfolio of investors chasing exponential growth.
Ondo (ONDO)A significant player in the RWA sector, Ondo operates on a decentralized autonomous organization (DAO) model, granting stakeholders the authority to shape the direction of Ondo Finance. BlackRock’s recent move to tokenize RWAs has increased interest in ONDO Finance, resulting in a notable 90% increase in the price of its mainnet asset ONDO in just 30 days.
MANTRA (OM)MANTRA stands out as a pioneering Security RWA Layer 1 network designed for seamless integration and compliance with existing regulatory frameworks. With the recent launch of the Hongbai Testnet, MANTRA aims to merge decentralized finance (DeFi) with traditional finance (TradFi) to innovate asset interactions in the finance sector.
The price of the network’s mainnet asset OM is also rising, fueled by the project’s strong initiatives, with data showing a 300% increase in the last 30 days.
Polymesh (POLYX)Polymesh, a Blockchain network specifically designed for regulated asset transactions, has seen a significant increase in value following BlackRock’s entry into the tokenized asset market.
Dedicated to corporate use, the price of Polymesh’s mainnet asset POLYX has made a significant 225% rise in just 30 days, reflecting the growing interest in altcoins associated with the regulated asset sector. Despite a recent drop of over 10% in the altcoin’s price, Polymesh’s dynamic growth is part of the crypto market’s volatile yet promising nature.
The increased interest in ONDO, OM, and POLYX indicates that the RWA sector’s potential for Blockchain-based investment, trading, and collateralization is gaining wider recognition. As major investors continue to monitor these projects for potential exponential returns, the RWA sector is poised for further growth and development in the coming months through innovative initiatives and increasing adoption in the financial ecosystem.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Ondo Finance continues solidifying its name in the RWA space, with the network’s TVL soaring past the $500 million threshold.
It comes as real-world assets tokenization gains mainstream attention, with crypto-focused companies, global bankers, and asset managers front-running this interest.
ONDO Thrives on Real World Assets Tokenization BuzzOndo Finance’s Total Value Locked (TVL) has exploded 43% since May, moving from $352.67 million on May 1 to $506 million on June 6.
TVL is an important metric used to measure the adoption and success of decentralized finance platforms. The surge in Ondo Finance TVL indicates a significant increase in assets deposited into the protocol. It highlights growing interest, market confidence, increased activity, and the potential for ONDO price increase.
According to CoinGecko, ONDO stands out as the leader in RWA coins, boasting a market capitalization of $2 billion, which represents 21% of the $9.3 billion sector. Other prominent tokens include Pendle (PENDLE), MANTRA (OM), XDC Network (XDC), and Polymesh (POLYX).
Read More: What Are Tokenized Real-World Assets (RWA)? Everything You Need to Know
ONDO TVL. Source: DefiLlamaThe recent surge in TVL can be attributed to the growing interest among crypto-focused companies, global bankers, and asset managers in bringing traditional financial instruments such as bonds, funds, or credit to blockchains. Among them, BlackRock launched its tokenized treasury bond, BUIDL, on the Ethereum network.
Recognizing the fundamental potential of tokenizing securities to transform capital markets, the US Congress is acknowledging TradFi’s integration into the blockchain. In a Wednesday hearing, the US House Financial Services Digital Assets Subcommittee discussed the tokenization of RWAs, highlighting divergent views on the topic.
Read More: What is The Impact of Real World Asset (RWA) Tokenization?
ONDO Price OutlookOndo’s native token is trading with a bullish bias, with immediate support at $1.36, defending the 23% gains made in the last seven days. In the previous 24 hours, the RWA token price is up almost 3% amid ongoing bullish efforts toward further upside. Notably, the next directional bias is contingent on how ONDO bulls play their hand as they contend against the $1.44 roadblock that has held as resistance for six consecutive days.
The Relative Strength Index (RSI) positions at 69, sustaining the higher low points to strong bullish momentum. If the RSI holds above the ascending trendline, the Ondo Finance price could extend a neck higher.
A stable candlestick close above $1.44, where the ONDO price effectively closes above the centerline of the ascending parallel channel, would increase the chances for further upside. This could potentially lead the token to reach a new all-time high of $1.60.
Read more: Real World Asset (RWA) Backed Tokens Explained
ONDO/USDT 1D Chart. Source: TradingViewThe Moving Average Convergence Divergence (MACD) is notable above the signal line (orange band). This indicates that the short-term moving average is above the long-term moving average, which usually suggests a bullish momentum in ONDO’s price.
However, a closer look reveals a dropping RSI and a weak MACD, indicating seller momentum. Therefore, a price correction could happen. If the $1.36 support level breaks, ONDO Finance could drop to test the $1.16 support level, but only a daily candlestick close below $0.98 would invalidate the bullish outlook.
The real-world asset (RWA) crypto market is booming in 2026, with tokens such as ONDO, POLYX, and LAND leading the charge. With an increasing number of enticing projects emerging in quick succession, the fear of missing out (FOMO) is palpable. That said, we would advise that you don’t dive in blind. This guide teaches you how to invest in RWA crypto assets without complexities and while staying safe. Here’s what to know and how to buy real-world crypto assets.
KEY TAKEAWAYS
• Real-world asset (RWA) tokens represent digital ownership of physical assets like real estate, commodities, and securities.
• RWA tokens use blockchain technology to offer enhanced liquidity, security, and the ability to own fractional shares of physical assets.
• Popular RWA tokens include Polymesh, Ondo, MANTRA, Synthetix, etc.
• You can invest in RWA tokens through CEXs for better security or through DEXs for greater flexibility.
In this guide:
How to invest in RWA crypto tokens?What are RWA tokens?How to stay safe while investing in RWA crypto?Real-world crypto or real-world opportunities? How to invest in RWA crypto tokens? You can invest in RWA tokens through a centralized exchange (CEX) — which tends to be safer — or a decentralized exchange (DEX), should you want to enjoy the perks of early listings.
Using CEXs Using CEXs like Binance, Coinbase, or Kraken offers a straightforward way to invest in RWA crypto tokens. These platforms often have dedicated sections or tags for real-world assets (RWA), making it easier to identify and invest in them. Here’s what to do:
Research and select a CEX: Choose a reliable CEX that lists RWA tokens. Create an account: Sign up on the chosen platform and complete the verification process. Fund your account: Deposit funds into your account using your preferred method, such as a bank transfer, crypto transfer, or credit card. Select RWA tokens: Search for RWA tokens such as Landshare (LAND), Polymesh (POLYX), or Ondo (ONDO). Review their performance and market potential. How to invest in RWA crypto: Binance Make the purchase: Follow the platform’s instructions or choose from the existing listings to buy your selected RWA tokens. Be mindful of the trading pair you wish to work with. Secure your investment: To protect your tokens from potential hacks, transfer them to a secure wallet, preferably a hardware option. Using DEXs Decentralized exchanges list tokens early. To locate RWA tokens, you can track them via websites like CoinMarketCap, or analyze them more deeply using tools like DEXScreener. Once you have conducted sufficient research and have a solid investment and risk management strategy in place, you can head over to DEXs like Uniswap or SushiSwap.
Top RWA tokens by market cap (As of Aug. 16, 2024): CoinMarketCap Here are the steps to follow:
Connect your wallet: Use a crypto wallet like MetaMask to connect to the DEX. Fund your wallet: Ensure your wallet has sufficient funds. Ethereum (ETH) is often required, although this is dependent on the DEX. Select RWA tokens: Search for RWA tokens on your chosen DEX. The best approach is to locate a token on CoinMarketCap and then move to the exchange. Make the purchase: Execute the trade directly from your wallet. Confirm the transaction and pay any required gas fees. Monitor listings on CEXs: Sometimes, RWA tokens initially listed on DEXs are later listed on CEXs. Did you know? ELYSIA (EL) Token is an example of a real-world asset (RWA) token that was first listed on a decentralized exchange (DEX) and later on a centralized exchange (CEX). Initially, ELYSIA was traded on DEXs, leveraging the flexibility and reach of decentralized finance (DeFi). Later, ELYSIA partnered with BKEX, a global crypto exchange, to launch the world’s first RWA money pool on a CEX, significantly expanding its accessibility and investor base.
Holding RWAs on DEXs also allows traders to work with liquidity pools and earn passive income, although this comes with significant risk.
What are RWA tokens? Real-world asset (RWA) tokens digitally represent ownership of physical assets such as real estate, commodities, and securities. These tokens leverage blockchain technology to provide liquidity, security, and fractional ownership.
Investing in RWA tokens can come with a host of benefits. These include the scope to diversify your portfolio and enhance transparency while dealing in real-life investment items (for example, art, fine wine, or real estate).
Polymesh (POLYX) is one example of an RWA blockchain. Designed for regulatory-compliant trading of security tokens, the altchain offers a secure platform for tokenized securities.
Note that investing in RWA tokens also carries risk. The value of the underlying assets can be volatile, and the liquidity of these tokens may not always match that of traditional markets.
How to stay safe while investing in RWA crypto? To invest in RWA crypto while staying safe and avoiding crypto scams, ensure to:
Choose reputable platforms Enable two-factor authentication (2FA) Use secure wallets Verify smart contracts Diversify your investments Stay informed Beware of scams Legal and regulatory compliance Use DEXScreener and similar tools Backup your wallet Real-world crypto or real-world opportunities? Overall, whether through tokenized real estate, commodities, or securities, integrating RWA tokens into your portfolio can provide demonstrable benefits and opportunities in 2026. You can take advantage of the tokenization drive and opportunities in this emerging market by following the steps outlined above.
When learning how to invest in RWA crypto, it’s crucial to prioritize security every step of the way. Make sure to use reputable platforms and a secure wallet, and only interact with verified smart contracts. Never invest more than you can afford to lose. Remember, the crypto market is volatile, and profits are never guaranteed.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
Polymesh (POLYX) price breached the resistance level at $0.498, signaling a bullish outlook.
This upward movement might prompt a retracement, presenting an opportunity for sideline buyers to accumulate before a potential further increase.
Polymesh price looks promising Polymesh price daily candlestick closed above $0.498 on Monday, surpassing its previous resistance level, which could trigger a pullback.
Sideline buyers interested in accumulating POLYX may consider the following levels.
The 38.20% Fibonacci retracement level at $0.448 that aligns closely with the ascending trendline. The 50-day Exponential Moving Average (EMA) line at $0.428, which roughly coincides with the daily bullish order block area extending between $0.448 and $0.428 from June 8. A bullish order block is an area where market participants, such as institutional traders, have placed huge buy orders. If Polymesh price rebounds from the $0.448 level, it could rally 25% to its previous daily close of $0.555 on April 8. This bounce is supported by indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO), both comfortably above their respective mean levels of 50 and 0. These momentum indicators strongly indicate bullish dominance.
POLYX/USDT 1-day chart
However, if the POLYX daily candlestick closes below $0.399 and establishes a lower low on the daily timeframe, it may signal a shift in market dynamics that favors bearish sentiment.
Such a change could nullify the bullish outlook, leading to a 21% crash in the Polymesh price to the previous support level of $0.314.
Upbit, South Korea's largest cryptocurrency exchange, started the day with altcoin announcements. At this point, Upbit announced that it would list a new altcoin and stated that this altcoin is Galxe (GAL).
Upbit announced that it will list GAL on KRW trading pairs.
“On July 11, 2024, GAL will be added to the KRW market on Upbit.
Listing for GAL is planned on the KRW trading pair on the Ethereum network.
Be sure to check the network before depositing digital assets. Deposits and withdrawals via networks other than those specified are not supported.”
It's on my second list too! Apart from Upbit, listing news also came from South Korean stock exchange Bithumb. At this point, Bithumb, South Korea's second largest cryptocurrency exchange, announced that it has listed the altcoin named PolyMesh (POLYX).
Bithumb announced that it will list POLYX on KRW trading pairs.
“On July 11, 2024, POLYX will be added to the KRW marketplace on Bithumb.
Listing for POLYX is planned on the KRW trading pair on the Polymesh network. Deposits via other networks are not supported.”
After the listing news, GAL and POLYX prices started to rise. While GAL experienced an increase of up to 30%, it gave back some of its gains.
POLYX, on the other hand, increased by up to 12%.
*This is not investment advice.
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TLDR A Colorado church group is tokenizing its $2.5 million chapel to raise funds for purchase The project is led by Pastor Blake Bush, who says he was inspired by God to use blockchain They created “Stone Coin” tokens on the Polymesh blockchain through REtokens The initial offering targets accredited investors, with plans to open to congregants later This may be the first tokenized church building in the world A network of churches in Northern Colorado is turning to blockchain technology in an innovative attempt to purchase their rented place of worship.
The Colorado House of Prayer, led by Pastor Blake Bush, has launched a tokenization project to raise $2.5 million for the acquisition of the Old Stone Church in downtown Fort Collins.
The historic 19th-century stone building, which the group has been renting for the past two years, is currently owned by Warren Yoder, a local businessman who purchased it in 2022 for $2.2 million. Bush’s organization now aims to buy the 11,457-square-foot structure using a method rarely seen in religious circles: cryptocurrency tokens.
“I heard the Lord say ‘tokenize the building,'” Bush told Forbes, explaining his inspiration for the project. “I’ve been praying for this for years, and God said, ‘Son, go get my house.'”
To accomplish this goal, the Colorado House of Prayer partnered with REtokens, a Spokane, Washington-based company specializing in real estate tokenization. Together, they created “Stone Coin,” a digital asset running on the Polymesh blockchain, a platform designed for tokenized securities.
The initial phase of the offering, launched recently, targets accredited investors with a minimum investment of $50,000. The project aims to raise the full $2.5 million within its first year. Future plans include opening token sales to non-accredited investors, including church congregants, at $500 per token with a $1,500 minimum investment.
Unlike traditional church fundraising, which often involves tax-deductible donations, this tokenization project is structured as an investment. Token holders will be subject to normal income and capital gains taxes, receiving K-1 partnership distributions.
The project’s pitch deck projects
“a 2-3% yearly increase on each token in accordance with the rise in real estate value in downtown Fort Collins,” plus a small dividend based on rent received by the LLC. However, Bush emphasizes that profit should not be the primary motivation for investors. “You’re not in this to make profits. You’re in this to do good in the community,” he stated.
Governance of the Old Stone Church will be managed by a board, which includes Bush, other religious leaders, and local officials such as the mayor of nearby Severance, Colorado. Token holders will have limited voting rights, including electing the board president and voting on potential sale of the building.
This tokenization project comes at a time when many churches across the United States are facing financial challenges. Mark Elsdon, a minister and developer, estimates that up to 100,000 Christian church properties could be sold or repurposed in the next decade.
While the Old Stone Church tokenization may be a first for religious buildings, it’s part of a growing trend of real estate tokenization. REtokens and Polymesh recently announced plans to jointly tokenize $30 million in real estate assets.
The Colorado House of Prayer describes itself as a network of churches working together, rather than a single denomination. The Old Stone Church currently hosts multiple religious groups, including a Korean congregation that holds weekly services.
As the project moves forward, it faces both opportunities and challenges. While tokenization could provide a new funding model for religious organizations, it also introduces complexities around securities regulations and investor expectations.
Bush remains optimistic about the project’s potential. He envisions forming a foundation to help other groups tokenize their historic buildings, seeing a possible convergence of blockchain technology and religious community funding.
As of the latest reports, the Colorado House of Prayer has raised approximately half of its $2.5 million goal for the Old Stone Church purchase.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Polymesh (POLYX) continues to extend its gains, trading around $0.132 at the time of writing on Tuesday, after a 5% rally over the past two days. Derivatives data reinforces the bullish sentiment, with POLYX’s funding rates turning positive, open interest climbing and long positions increasing. The technical analysis suggests that POLYX may be poised for double-digit gains on the horizon, making it a key altcoin to watch this week.
POLYX’s derivatives data shows a bullish biasCoinglass derivatives data show that POLYX Open Interest (OI) surged by nearly 7% in the last 24 hours, reaching $8.70 million. An increased buying activity fuels the OI spike, suggesting heightened optimism surrounding Polymesh. Additionally, its long-to-short ratio also stands at 1.01, indicating that traders are betting on the asset price to rise.
Polymesh derivatives data chart. Source: Coinglass
Coinglass’s OI-weighted Funding Rate data shows that the metric has flipped to a positive rate, reading 0.0097% on Tuesday, indicating that longs are paying shorts. Historically, as shown in the chart below, when the funding rates have flipped from negative to positive, POLYX’s price has generally rallied sharply.
Polymesh funding rate chart. Source: Coinglass
Polymesh’s technical outlook suggests a double-digit gainPolymesh price broke above a descending trendline (drawn by connecting multiple highs since mid-May) on Sunday and rallied by nearly 5% until the next day. At the time of writing on Tuesday, it continues to trade higher by 2.2% at around $0.132.
If POLYX continues its upward momentum, it could extend the rally by nearly 10% from its current levels to retest the 100-day Exponential Moving Average (EMA) at $0.146.
The Relative Strength Index (RSI) on the daily chart reads 53 and points upwards, indicating that bullish momentum is gaining traction. Additionally, the Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on June 28. It also shows rising green histogram bars above its neutral zero line, suggesting bullish momentum is gaining traction and continuing an upward trend.
POLYX/USDT daily chart
However, if Polymesh faces a correction, it could extend the decline to retest its Sunday low at $0.122.
Polymesh joined partners at the BDACS 1 Day Ideathon in Busan to support real-world, multichain blockchain innovation and expand its presence in Korea.
This past weekend, Polymesh partner BDACS turned Busan’s BEXCO Exhibition Center into a buzzing hive for creative collaboration and blockchain innovation, hosting the city’s first-ever Ideathon under the theme of “multichain-based digital services.”
Over 200 students, developers, and blockchain entrepreneurs converged for the BDACS 1 Day Ideathon, where teams pitched projects honed over weeks of online mentoring, intense preparation, and repeated iteration.
Supported by Busan Metropolitan City and Busan Ilbo, the Ideathon brought together blockchain platforms – including Avalanche, GK8 by Galaxy, and Polymesh – as well as Woori Bank, BDAN, and academics from Pusan National University and Sogang University to mentor and educate participants.
Representing Polymesh, Nick Cafaro (Head of Product) and Zoë Poole (Senior Marketing Manager) joined as judges and mentors supporting the next generation of talent in Korea to explore multi-chain applications with real-world value.
Participants and mentors at the BDACS 1 Day Ideathon, Busan. Provided by BDACS.
Real-world industry use casesWhat made the Ideathon unique was its focus on practical, industry-ready use cases over purely ideative applications. Teams explored how multi-chain infrastructure could unlock new efficiencies and opportunities in various industries with local relevance in Korea, including trade, finance, and payments, as well as tourism, music, and workforce management.
The Grand Prize winner, Triangle, exemplified this approach with a proposed digital solution to trade finance review automation explicitly conceived for the local Busan Port’s shipping industry.
While blockchain’s implementation in global trade is complicated – the trade industry inherits a confusing legal legacy – Triangle’s initial idea to use Polymesh as the underlying chain for record keeping and compliant transactions highlights why Ideathons matter. They’re a place to dream big, test ideas, and encounter real-world feedback necessary to further hone one’s thinking.
Triangle’s focus on Polymesh’s compliance framework shows sophisticated thinking about regulated industries, even as the path to implementation remains complex. While wholesale transformation of global trade may take decades, there are other near-term opportunities where Polymesh’s native compliance functionality can deliver value, such as tokenized invoices using non-fungible tokens (NFTs). Pilot programs at local ports like Busan could offer valuable proof-of-concepts for these applications.
Polymesh Head of Product Nick Cafaro speaking at the BDACS 1 Day Ideathon in Busan, discussing the importance of compliance in blockchain innovation. Provided by BDACS.
Highlights and Winners As noted above, the Grand Prize went to Triangle, but seven other standout teams also received awards:
Excellence Awards: NextWave Busan, QuantusMerit Awards: ChainBridge, TxMEEncouragement Awards: MemenToken, WTKSpecial Award (Busan Mayor’s Award): SparkleTriangle shared the following remark in their acceptance speech:
“My idea came from a personal wish to see Korea take the lead in digitalizing trade-related documents. As more than half of the nation’s trade volume flows through Busan, I believe it’s deeply meaningful for such innovation to begin here.”
Triangle wasn’t the only team to make a heartfelt nod to Busan. Sparkle – a team of undergraduates from Pusan National University’s Department of Business Administration – cited Busan’s reputation as a regulation-free blockchain zone informed their choice of university, expressing deep gratitude to BDACS for hosting the Ideathon, the first opportunity for young participants like them to engage with the local blockchain ecosystem.
It was a touching reminder that the future of this industry involves the next generation of talent, and reveals that Busan’s vision to become a blockchain hub is working. Young talent is choosing to come to Busan precisely because of its blockchain involvement, and entrepreneurs are conceptualizing projects tailored to pressing issues in local industries.
Award winners and mentors celebrate at the BDACS 1 Day Ideathon closing ceremony. Proided by BDACS.
Polymesh’s Commitment to KoreaThe Ideathon’s success extended well beyond the competition itself, generating strong local and national interest with over 50 media features in Korean outlets, including a feature in Busan Ilbo, a KNN television broadcast, and a MTN interview where Nick discussed how Korea’s leadership in stablecoin legislation will impact RWAs and STO adoption.
“Stablecoin regulation lays the foundation for tokenized financial products because it ensures that digital cash and digital securities can safely interoperate. Once clear rules are in place for stablecoins, institutionalization is only a matter of time.”
– Nick Cafaro, Head of Product, Polymesh LabsFor Polymesh, the event underscored our commitment to fostering compliant tokenization and expanding in the Korean market.
Over the past year, Polymesh has sponsored Korea Blockchain Week, supported BDACS at industry events, conducted local user research, and released a Korean-language user guide to make our platform more accessible.
Zoë’s current presence in Korea also reflects our long-term investment in building relationships with credible partners and understanding local needs and priorities.
Supporting BDACS’ 1 Day Ideathon marked a natural continuation of these initiatives, and an opportunity to connect directly with Korean talent actively exploring how blockchains like Polymesh can power compliant, institutional-grade applications.
We’d like to extend thanks to BDACS for hosting an inspiring event, as well as to the partners, mentors, and participants who contributed.
Join AlphaPoint and Polymesh for an in-depth look at how tokenization is being applied to traditional financial instruments, from equities and bonds to funds and other RWAs.
Join AlphaPoint and Polymesh for a focused discussion on how tokenization is being applied in real institutional workflows – from equities to funds – and what this means for institutions moving value onchain.
Together, we'll explore how market participants are using blockchain infrastructure to streamline settlement, enhance transparency, and support more efficient secondary markets while maintaining reguatory and operational integrity.
DetailsDate: Wednesday, November 19, 2025
Time: 12pm ET
Speakers:
Nick Cafaro, Head ofProduct, Polymesh LabsJoaquín Ayuso de Paul, Chief Product Officer, AlphaPointRegister: https://us06web.zoom.us/webinar/register/WN_m6Wnpi7iSfSOfdVAkd9HgA#/registration
About AlphaPoint
AlphaPoint provides institutional-grade digital asset infrastructure, powering exchanges, brokerages, payment networks, and banks with secure, compliant, and scalable solutions for tokenization, trading, custody, and lifecycle management. AlphaPoint has served over 150 customers in 35+ countries. For more information, visit www.alphapoint.com.
About Polymesh / POLYXPolymesh is an institutional-grade public permissioned blockchain built specifically for regulated assets. It streamlines outdated processes and opens the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement. POLYX is the native protocol token for Polymesh, used for fees, staking, governance, and securing the network. Learn more at www.polymesh.network.
New capability enables confidential, audit-ready asset transfers on a public permissioned blockchain.
Polymesh, the public permissioned blockchain purpose-built for regulated assets, today announced the launch of Confidential Assets on the Polymesh DevNet. This new capability introduces private, fully auditable settlement flows for real-world assets (RWAs), enabling institutions to conduct onchain activity without exposing sensitive positions, transaction sizes, or counterparty information.
The launch of Confidential Assets allows institutional participants to move RWA workflows onchain while keeping participant identities, balances, and transfer amounts confidential, with controlled visibility for auditors and regulators.
Confidential Assets are powered by P-DART, a protocol developed by Polymesh Labs in collaboration with researchers at the University of Edinburgh. The system encrypts key elements of a transaction – including identity, amounts, and asset identifiers – while maintaining verifiability and settlement finality. The approach allows issuers to appoint auditors who can decrypt activity when required for regulatory, legal, or operational reasons.
Institutions have historically faced a trade-off between staying in private, siloed environments to preserve confidentiality or operating on public chains that introduce transparency incompatible with market workflows. Confidential Assets are designed to remove this tension by combining privacy with enforcement and oversight on a public permissioned network.
Key Capabilities
Encrypted balances, amounts, and identities, preserving confidentiality for market participants. Designated auditor access, enabling regulated entities to view transaction details for reporting or dispute resolution. Non-interactive confidential transfers, supporting asynchronous workflows used in institutional settings. Issuer-led force transfer support, allowing corrections related to errors, legal actions, or key loss within appropriate frameworks. Multi-asset atomic settlement, enabling confidential multi-leg transactions to settle simultaneously. The DevNet release provides a dedicated environment for developers and market operators to test confidential settlement workflows ahead of future testnet and mainnet deployments without impacting broader network stability. The environment is suited for prototyping confidential OTC workflows, private asset issuance, fund operations, block trades, and other regulated market structures.
Confidential Assets are available now on the Polymesh DevNet for developers, custodians, tokenisation platforms, and market operators evaluating confidential settlement workflows ahead of future network rollouts. To access the DevNet, users can go to https://devnet-confidential.polymesh.dev/.
About Polymesh Labs
Polymesh Labs is dedicated to the growth of the Polymesh ecosystem through Polymesh and Polymesh Private. Polymesh is a leading public permissioned blockchain purpose-built for real-world assets that streamlines capital markets and opens the door to new financial products. Polymesh Private is a private permissioned instance of Polymesh that can be deployed by enterprises.
tZERO Group, Inc., a blockchain-powered multi-asset infrastructure provider, announced a partnership with Polymath, the company behind Polymesh – an L1 blockchain built for real-world assets. The partnership brings together Polymath’s RWA blockchain tech and tZERO’s broker-dealer and tokenization capabilities to support issuers seeking to “tokenize assets on the Polymesh network.”
Polymath and tZERO will aim to support issuers interested in tokenizing on Polymesh while “leveraging tZERO’s infrastructure – including the potential for tZERO Securities to serve as broker-dealer of record where applicable.”
This collab enables issuers to complete primary offerings on Polymesh through tZERO’s tokenization and compliance workflows and, “where eligible, access secondary trading on tZERO’s SEC-regulated Alternative Trading System (ATS).”
The combined model streamlines issuer onboarding, “enhances regulatory confidence, and provides a pathway from issuance to lifecycle management.”
As part of the relationship, tZERO will also operate “a validator node on Polymesh, underscoring a commitment to the network’s governance, security, and long-term ecosystem development.”
Polymesh is said to be designed for regulated financial assets, “offering native identity, compliance, and governance frameworks.”
Pairing Polymath’s L1 chain architecture with tZERO’s regulatory and market structure expertise provides “issuers with a combined solution that is purpose-built for real-world tokenization at institutional scale.”
This collab strengthens the RWA ecosystem by “aligning Polymath’s L1 chain governance with tZERO’s regulated stack, enabling a foundation for issuers looking to launch, manage, and grow digital asset programs.”
Polymath is the fintech company tokenizing the global financial system.
The company is “transforming the private securities market with a white-label SaaS platform that tokenizes real-world assets.”
As mentioned in the announcement, Polymath lets issuers “design compliant, efficient issuance flows while integrating via APIs with custodians, fund-management platforms, cap-table tools, CRM systems, and KYC/AML providers.”
Polymath now reportedly brings “security, liquidity, and efficiency to private markets.”
Polymesh is described as an institutional-grade permissioned blockchain “built specifically for regulated assets.”
It streamlines traditional workflows and “opens the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement.”
As noted in the update, tZERO Group, Inc. and its broker-dealer subsidiaries provide a “liquidity platform for private companies and assets.”
They offer solutions for issuers “looking to digitize their capital table through blockchain tech, and make such equity available for trading on an alternative trading system.”
tZERO, via its broker-dealer subsidiaries, “democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors.”
As covered, tZERO Digital Asset Securities, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC.
It is the broker-dealer custodian of all digital asset securities that are “offered on tZERO’s online brokerage platform.”
It operates in accordance “with the SEC’s statement, dated Dec 23, 2020, regarding the Custody of Digital Asset Securities by Special Purpose Broker-Dealers.”
Private asset transactions and settlements meet the public blockchain. Confidential Assets now live on the Polymesh DevNet – the new era of private tokenization begins.
For years, institutions exploring real‑world asset (RWA) tokenization have been burdened with a difficult trade‑off: maintain confidentiality in private, walled environments, or move onchain to improve shared-state compliance, auditability, and lifecycle automation at the risk of exposing sensitive positions and flows.
With the launch of Confidential Assets on the new Polymesh DevNet, this trade‑off disappears.
Powered by P-DART, Confidential Assets enables RWA settlement on a shared ledger while keeping participant identities, balances and transaction amounts confidential, with controlled transparency for regulators, auditors, and other designated oversight roles.
We’re delighted to share that Confidential Assets are now live on the Polymesh DevNet, giving builders a dedicated environment for experimentation ahead of testnet and mainnet release.
This milestone release reflects years of research and collaboration between Polymesh Labs and the University of Edinburgh, as well as the broader effort to design privacy that supports regulation rather than working around it.
Below is a focused overview of why Confidential Assets matter, what they enable, and how to get started.
Why Confidentiality Matters for Real‑World AssetsInstitutions have operational and compliance requirements, and confidentiality is one of them; counterparty exposure, position data, settlement intent, and trade size should remain confidential. At the same time, regulated assets require auditability, enforcement, and control.
Today, most institutional workflows operate offchain because public blockchains reveal information that should remain private:
Positions and flows become visible to the market Large allocations, redemptions, rebalancing events, or block trades can signal strategy, reveal alpha, and impact pricing.
Order books and OTC workflows don’t map cleanly to transparent ledgersPre-trade intent and negotiation are often sensitive and not suitable for public mempools or explorers.
Regulators require controlled transparency; neither total opacity nor total openness Institutions must protect client confidentiality while ensuring appropriate oversight. Regulators and auditors should have visibility; unknown others should not.
The result is a patchwork of partial solutions – private side letters, bilateral spreadsheets, or fully private ledgers – that fragment liquidity and introduce operational friction.
Polymesh confidentiality addresses this issue from a critical new dimension, unifying privacy, enforceable compliance, and settlement, ultimately letting participants preserve privacy within the comfort of a public, purpose-built blockchain.
What Are Confidential Assets?In contrast to zero-knowledge L1s, privacy coins, or enterprise permissioned chains, Polymesh confidentiality coexists with compliance and operational control. Confidential Assets represent the evolution over MERCAT, combining encrypted balances, transfer amounts, asset and investor identifiers with Polymesh’s native settlement to enable confidential transactions that remain verifiable, enforceable, and audit-ready. Complex technology; simple delivery.
Learn more about P-DART, the protocol behind Confidential Assets.
Key benefits of Polymesh confidentiality
Smaller Proof sizesThe transaction protocol, purpose-built for financial institutions, uses zero-knowledge proofs tailored for Polymesh workflows. Diverging from generalized zero-knowledge proofs allows P-DART to maintain efficient proofs for higher throughput – a key requirement for real-world financial transactions that rely on speed.
Built-in auditor decryptionAsset issuers can approve auditors or grant other required entities the ability to decrypt transaction details when needed, enabling compliant reporting and dispute resolution without exposing positions to the broader network.
Non-interactive confidential transfersTransfers can be created and validated without both parties being online or coordinating in real time, supporting asynchronous institutional workflows across systems and timezones.
Reversibility via force transfer supportErrors, legal actions, or mandated corrections can be addressed by the Asset issuer through force transfer support – something most privacy systems cannot provide.
Multi-asset confidential transfers through atomic settlementPolymesh’s instruction-based settlement engine allows multi-leg, multi-asset transfers to execute atomically, while asset types and positions remain unknown to outside observers.
Together, these capabilities deliver confidential, compliance-ready asset flows on a public permissioned chain – something other privacy solutions cannot offer in combination.
Why debut on a DevNet?Confidentiality introduces new developer patterns, new cryptographic workflows, and new integration surfaces that interact with existing pallets, such as identity and settlement. Launching on a dedicated DevNet allows for testing of cryptography, auditor flows, mediation, and logic without introducing early instability to broader ecosystem environments.
DevNet is not for production implementations. Instead, it’s a sandbox for experimenting in an environment where iteration speed is high and breaking changes are expected.
Developers can utilize the DevNet to experiment and prototype safely, model real institutional workflows, and shape upcoming testnet and mainnet releases. Teams can build and test full lifecycle flows without operational risk, and early builders have direct influence on final parameters.
Eventually, we’ll roll out confidentiality features to the testnet and then mainnet; for now, we’re excited to offer the DevNet for users to integrate, experiment, and prepare long before Confidential Assets is production-ready.
What Can You Build? Key Use CasesConfidential Assets supports onchain workflows where positions, flows, or transactions must remain private. Early examples include:
Tokenized Private Assets (e.g. private equity; private debt) Settle private securities – such as private equity or private credit – while keeping investor allocations, transaction amounts, and asset movements confidential, with rights-based visibility enabling controlled auditor or mediator access.
Learn more about Polymesh tokenization for equity and debt.
Privately negotiated trading (OTC and RFQ workflows)Support negotiated transactions – such as OTC (over-the-counter) agreements or RFQ (request-for-quote) processes – with confidential transaction sizes and private positions. Settlement remains fully onchain using atomic delivery‑versus‑payment.
Tokenized Funds & Structured ProductsIssue confidential fund units or structured products where investor holdings and activity are kept private, yet administrators and regulators retain required insight. Lifecycle events such as subscriptions and redemptions still settle securely onchain.
Dark Pools & Block TradesFor large trades that may move markets if exposed too early, Polymesh’s confidentiality functionality brings much-needed privacy. Venues can match and execute trades privately while ensuring final movement of assets remains atomically onchain and auditable.
These use cases represent only the starting point; the DevNet is designed to support a wide range of institutional privacy‑preserving workflows.
Who Should Join the DevNet?The DevNet is built for anyone looking to interact and experiment with Confidential Assets on Polymesh. This may include:
custodians and trust companies exploring confidential settlement and safekeeping;exchanges, broker-dealers, and alternative trading systems building private or semi-private workflows onchain; tokenization platforms and RWA issuers designing private or hybrid asset structures;DeFi and onchain credit protocols integrating regulated, private markets into protocol designs;Infrastructure and middleware providers adding support for confidential balances or transfers.In short, the DevNet is designed for developers and businesses looking to move workflows onchain that involve sensitive market data.
Getting started with the Polymesh DevNetWe invite developers, custodians, market operators, and ecosystem partners to begin integrating and experimenting on DevNet, accessible at https://devnet-confidential.polymesh.dev/.
In addition, we recommend the following resources for assistance:
1. Sign up for DevNet and developer updates Sign up on the Polymesh Confidentiality page to receive future access details, such as planned testnet or mainnet rollouts.
Developers should also sign up for Developer Updates to get notified of any future chain updates that may include breaking changes.
2. Review the documentation Get a high-level overview on the Polymesh Confidentiality page, or dive deeper with the:
technical paper, detailing how P-DART extends the DART protocol to PolymeshGithub repo containing the code for P-DART
3. Connect with the developer toolingDiscover available tooling in the Developer Portal: the SDK, REST API, and other functionality for building end-to-end encrypted workflows.
4. Share your feedbackEarly builders directly influence the roadmap. Tell us what works, what doesn’t, and what you need next. Get in touch with us at [email protected] or by joining the Polymesh Discord.
Confidential Assets on the Polymesh DevNet open the door to tokenized private markets on public blockchain infrastructure, uniting privacy with enforceable compliance and settlement at the base layer.
DevNet is now live. Access it now at https://devnet-confidential.polymesh.dev/.
Polymesh Private guide is now available in Arabic, supporting MENA institutions with permissioned tokenization infrastructure designed for regulatory compliance and public optionality.
We’re delighted to release the Polymesh Private guide, now in Arabic!
Why Arabic? → It’s to capture momentum in MENA by aiding our local industry partners. Check out our blog update on UAE tokenization to learn how clear regulatory frameworks have RWA tokenization in the region moving from policy topic to operational reality.
Why Polymesh Private? → Polymesh Private is more likely to matter to the conversations happening in the Gulf and wider Middle East, where protocol flexibility is highly valued by regulators.
Our approach aims to consider how tokenization initiatives in the MENA region are actually evaluated and enacted, which is through various institutional layers and formal review processes (not bottom-up from individual product teams or crypto startups).
Different jurisdictions, shared constraintsFrom our regional efforts, we’ve learned that while regulatory clarity and a multi-jurisdictional approach characterize the UAE, in other places, the trajectory is more centralized and yet evolving. And in both cases, institutions are cautious about infrastructure choices that force premature commitments to open models or potentially volatile tokenomics.
Whether a place is focusing on pilot projects and readily moving towards live production, there’s pressure in MENA on correct form: better compliance tooling, robust networks, clean asset lifecycle management, and infrastructure that can scale after approval – exactly what Polymesh Private provides.
In Saudi Arabia in particular, financial market infrastructure tends to be coordinated, policy-led, and long-term in nature. Recent RWA activity may look public-facing, but the control model is private-first. The focus is on permissioned infrastructure, known participants, market access control, and centralized or regulator-led governance, not open networks.
Public capabilities, private control Even if Polymesh offers many of these features – for example, identity and now confidentiality – as public infrastructure, it implies public shared-state and governance controls that may not align with regulator preferences.
Polymesh Private, on the other hand, allows network operation within a controlled environment, where network access and parameters (e.g. use of a public token) are entirely up to operator control. It’s useful for regions where regulation is not yet fully codified and a private, permissioned environment looks less like a limitation and more like a prerequisite.
Preserving optionalityInstead of choosing between prematurely committing to a public network or remaining locked in a private environment, Polymesh Private preserves optionality. Institutions can deploy now, adjust as policy evolves, integrate public network improvements, and eventually transition to a public network when conditions become favourable.
Meeting the region where it isThis is why we chose to translate the Polymesh Private guide. It’s not a translation for marketing, or a statement about where the region will ultimately land. It’s about meeting MENA where it is today.
The Arabic version of the Polymesh Private guide is intended to support the conversations already taking place across regulators, market operators, and infrastructure providers, in the language and framing in which those conversations are often conducted.
As tokenization across MENA continues to mature – quickly, deliberately – the question will not be whether regulated assets can move onchain but how this transition will happen. Polymesh Private is designed for that moment.
Read the Polymesh Private Guide in Arabic → polymesh.network/private/guide/ar
Learn more about Polymesh Private → polymesh.network/private
Polymesh v7.4.0 is now live on Mainnet, introducing Account ID based asset balances to simplify settlement flows while preserving full identity driven compliance.
This release introduces an important, non breaking enhancement to the settlement model: Account IDs can now hold asset balances directly. It is the first step toward providing a more streamlined, account oriented experience, while preserving the identity and compliance framework that underpins Polymesh.
This release represents a major step forward in the Polymesh evolution, bringing the intuitive balance model of traditional blockchains to regulated settlement while maintaining the compliance guarantees and regulatory controls that make Polymesh unique.
What's New: Account ID Asset BalancesHistorically, all Polymesh assets were held in Portfolios associated with Identities, DIDs. Portfolios remain a core concept and continue to be fully supported. While this model provides powerful organizational and compliance capabilities, it introduced an additional layer of abstraction that differed from traditional blockchain workflows.
With v7.4.0, asset balances can now also be associated directly with an Account ID, a signing key public key address.
Transactions that previously accepted a Portfolio have been updated to also accept an Account ID as an alternate input extending the capability of the existing settlement related transactions.
This does not remove the role of identity. An Account ID must still be linked to an on chain identity. A key improvement is that new functions have been added that perform the Account ID to DID lookup internally during transfers. This reduces the need for off chain identity resolution and simplifies the transaction flow for developers and integrators.
The result is a model that feels closer to traditional blockchains, where balances are typically stored at the key or account level, while still leveraging Polymesh’s settlement engine for compliance and regulatory enforcement.
Simpler Account Based TransfersTo support Account ID balances, v7.4.0 introduces new Asset module transactions that enable streamlined, single leg transfers between Account IDs:
These new transactions allow a sender to initiate a transfer directly from their Account ID balance to a receiver's Account ID. Because identity resolution happens on chain, callers do not need to perform a separate DID lookup before initiating or affirming a transfer. Compliance checks, double spend prevention and settlement guarantees remain fully enforced by the existing settlement engine.
The transactions also support immediate execution in the block the transaction is submitted providing clear feedback in failure cases.
For transfers:
If the receiver has pre-approved the asset, the transfer executes immediately in the same blockIf not pre-approved, a settlement instruction is created pending the receiver's confirmation
For affirmations:
Upon affirmation, if all compliance requirements are met, the instruction executes immediately in the same transactionIf compliance checks do not pass the transaction fails immediately, allowing the receiver to address issues and retryGetting Started with Account ID BalancesBefore using the new transfer flow, an Account ID must hold an asset balance.
This can be achieved in two ways:
Receiving assets through the existing settlement flow, specifying an Account ID as the destinationMoving funds between a traditional Portfolio and an Account ID under the same identityThese options ensure full backward compatibility. Existing portfolio based workflows continue to function exactly as before.
Still Identity DrivenWhile balances can now be held at the Account ID level, they remain anchored to on chain identities. An Account ID must be linked as a primary or secondary key to a DID, and all compliance checks continue to be evaluated at the identity level.
This design preserves Polymesh’s distinction between identities and keys, ensuring that simplification of transfers does not weaken regulatory controls.
SDK and Portal Updates Coming SoonSupport for Account ID based balances will soon be reflected in updates to the Polymesh SDK and the Polymesh Portal, making it easier for developers and users to take advantage of the new functionality.
These updates will streamline integration and expose the new transfer flows through familiar tooling and interfaces.
Looking Ahead to v8.0Version 7.4.0 is a foundational, non breaking release.
In the coming months, we are targeting v8.0 as the next major upgrade. That release will expand Account ID based balance support further and is expected to remove the need to reference a DID when providing an Account ID in settlement transactions. Because that change will modify existing interfaces making it a breaking change, it is planned to be included in the next major release.
Polymesh v7.4.0 delivers immediate usability improvements today and lays the groundwork for a more intuitive, account oriented settlement model in future updates.
Explore the DetailsFor comprehensive technical documentation, see:
Settlement Overview – How settlements and Account ID transfers work under the hoodPortfolios – New Account ID portfolio sectionAsset Transfers – Detailed settlement flows and examplesQuestions?Join the conversation in the Polymesh Community or reach out to the core team. We're excited to see how Account ID asset balances enable new use cases and simpler integrations!
Polymesh v8 upgrade advisory: changes to POLYX transfers, events, balances, and memo/DID handling for exchanges, wallets, and custody providers.
TL;DRUpgrade timeline: Polymesh v8 expected May 2026, with ≥4 weeks notice before mainnet upgradeEvent changes:balances.Transfer will no longer include memo or DID fieldsUse balances.TransferWithMemo for memo-based depositsAction required (deposits):Memo-based systems → switch to TransferWithMemo (available since v7.4)Address-based systems → use TransferDo not parse both events for the same transferExtrinsics: legacy transfer removed, use standard Substrate calls (transfer_*)Balances: update parsing to use frozen instead of miscFrozen / feeFrozenTransferable balance formula updatedDID requirement removed (since v7.3):Receiving addresses do not need a DIDRemove any DID checks on withdrawal validationOverviewPolymesh runtime v8 is an upcoming release. This bulletin is provided in advance so that exchange, custody, and wallet teams can plan and prepare integration changes ahead of the upgrade. The mainnet upgrade is expected in May 2026. A firm date will be announced at least 4 weeks in advance.
This bulletin is for exchange, custody, and wallet engineering teams that support on-chain POLYX transfers and balance reconciliation.
Scope: POLYX token transfer flows on the Polymesh blockchain (balances pallet behavior and related account-balance semantics).
Polymesh runtime v8 aligns POLYX balance behavior with the upstream Polkadot SDK (Substrate) balances model and interface.
The rationale for this change is to:
Reduce network-specific integration logicImprove compatibility with standard Polkadot SDK wallets, indexers, and operational toolingMake transfer semantics and storage layout more predictable across Polkadot SDK-based environmentsFor exchanges, custody platforms, and wallet providers, this results in simpler long-term maintenance, fewer custom parsing rules, and clearer forward compatibility as upstream standards evolve.
What Changes in v81) Transfer ExtrinsicsThe POLYX transfer API surface moves to the standard balances calls:
transfer_allow_deathtransfer_keep_alivetransfer_allThe legacy transfer call is removed. transfer_with_memo remains available for memo-bearing transfers.
For withdrawals or sending POLYX, integrations should support at least one of the four transfer methods (transfer_allow_death, transfer_keep_alive, transfer_all, or transfer_with_memo).
Supporting any one of these methods is sufficient. However, it is recommended, but not mandatory, to support transfer_with_memo for outgoing transfers, since some destinations, such as exchanges, require unique memos for deposit attribution.
2) Transfer EventsCurrent Event Structure (v7.4, pre-v8)The balances.Transfer event currently emits six fields:
balances.Transfer( from_did: Option<IdentityId>, from: AccountId, to_did: Option<IdentityId>, to: AccountId, amount: Balance, memo: Option<Memo> ) The balances.TransferWithMemo event (introduced in v7.4) emits four fields:
balances.TransferWithMemo( from: AccountId, to: AccountId, amount: Balance, memo: Memo )In v7.4, POLYX transfers executed via transfer_with_memo emit both Transfer and TransferWithMemo. Integrations should parse only one of these event streams for deposit accounting to avoid double counting.
v8 Event StructureIn v8, balances.Transfer aligns with the standard Polkadot SDK format and drops the identity and memo fields:
balances.TransferWithMemo remains unchanged and is emitted only when the transfer_with_memo extrinsic is used.
This means:
Standard transfers emit only Transfertransfer_with_memo emits both Transfer and TransferWithMemoCompatibility Note for Current Runtime (v7.4)balances.TransferWithMemo was introduced in v7.4 specifically to provide forward compatibility with v8. Because v8 removes the identity and memo fields from the standard Transfer event, a dedicated event was introduced in advance so that memo-based POLYX deposit flows can continue to function across the upgrade.
TransferWithMemo is compatible with both v7.4 and v8. Exchanges that track memo-based POLYX deposits should switch to consuming TransferWithMemo.
Important:
In v7.4, TransferWithMemo is emitted only when transfer_with_memo is used
When it is emitted, Transfer is also emitted for the same extrinsicParse only one event stream per flow to avoid double countingNote on Deposit Address StrategySince v7.3, Polymesh no longer requires an account to have an associated Decentralised Identity (DID) in order to receive POLYX or participate in staking.
This has a direct practical implication for exchanges.
Prior to v7.3, every receiving address required a DID, which made unique per-user deposit addresses difficult to operate at scale. Memo-based deposits to a shared address were commonly used as a workaround.
With DID requirements removed for POLYX, exchanges can now allocate a unique on-chain deposit address per user, following the standard pattern used across most Polkadot SDK-based chains, without requiring each user to hold a DID.
Both deposit models remain fully supported:
Approach Event to parse Notes Memo-based deposits (shared address) balances.TransferWithMemo Memo identifies the user, available since v7.4, forward-compatible with v8 Unique deposit address per user balances.Transfer Standard pattern, no memo required Important: Since v7.3, receiving addresses are not required to have an associated DID to receive POLYX. Integrations should not enforce DID existence checks when validating withdrawal destinations, as this can lead to valid transfers being incorrectly rejected.
3) system.account Balance Data Layoutsystem.account.data moves from:
freereservedmiscFrozenfeeFrozento:
freereservedfrozenflagsAccount data is migrated in two stages.
At upgrade time:
miscFrozen and feeFrozen are replaced with a single single frozen value. flags is initialised to the same value as frozen. free and reserved remain unchanged.
After the account is next updated (for example, via transfer or staking):
reserved is recalculated to reflect upstream semantics, free is adjusted accordingly, and flags is updated to its full upstream format including version bits.
The v8 transferable balance formula below produces correct results for accounts in either state.
free is the account free balancereserved is protocol-reserved balancefrozen is the total locked or frozen amountED is the existential depositSince Polymesh uses ED = 0, this simplifies to:
transferable = free - max(0, frozen - reserved) In v8, an account’s total balance remains free + reserved. The reserved field now reflects protocol-reserved funds such as staked tokens, so reported free balances may differ from pre-v8 for accounts.
5) transfer_keep_alive vs transfer_allow_deathBoth calls are exposed for compatibility with standard Polkadot SDK balances tooling.
With ED = 0 and no account reaping at zero balance, their practical behavior is equivalent for exchange integrations.
Integration Guidance for ExchangesUse the following as your implementation baseline:
Support at least one of the four transfer methods for withdrawals (transfer_allow_death, transfer_keep_alive, transfer_all, or transfer_with_memo)Prefer supporting transfer_with_memo for outgoing transfers where counterparties require memosDo not require a DID for withdrawal destination addressesFor memo-based deposits, consume balances.TransferWithMemoFor address-based deposits, consume balances.TransferDo not parse both events for the same transfer flow in v7.4 or v8Treat the presence of a transfer event as the authoritative signal that value movedUpdate balance parsing logic to handle frozen and flagsUpdate available balance computation to the v8 formulaSummaryPolymesh runtime v8 standardises POLYX balance interfaces and event semantics around the upstream Polkadot SDK model, while preserving memo-capable transfers via TransferWithMemo.
Exchanges that adopt TransferWithMemo for memo-based flows and update balance and storage handling in advance will be well positioned for a smooth v8 transition.
Polymesh v8 introduces self-registered DIDs, simplified asset transfers, expanded account-based ownership, EVM smart contract support, and Confidential Assets on Testnet.
The Polymesh v8 upgrade is approaching and will introduce some of the most significant changes to the network since launch.
We are currently targeting the following rollout schedule:
Testnet: 24 June 2026
Mainnet: 22 July 2026
Polymesh v8 focuses on simplifying onboarding, reducing transaction friction, expanding asset ownership models, and improving compatibility with broader blockchain tooling, while maintaining the flexibility required by regulated asset ecosystems.
This release also includes a substantial upgrade of the underlying blockchain framework and modules to Polkadot SDK version stable2603-2.
Taken together, these changes represent an important evolution of the platform. The release removes several sources of friction that have historically impacted users and developers while introducing new capabilities that expand how applications can be built on Polymesh.
Who Should Read This?This upgrade is particularly relevant for:
DevelopersIntegratorsInfrastructure OperatorsAsset IssuersWallet ProvidersAt a GlancePolymesh v8 introduces:
Self-registered DIDs, no CDD Claim requiredDID Registrars replacing CDD ProvidersReceiver affirmations become opt-inExpanded account-based ownership for assets and NFTsAsset allowances and delegated spendingEVM smart contract support via PolkaVM and ReviveGeneric Polkadot Ledger app supportConfidential Assets available on TestnetUpgrade to Polkadot SDK stable2603-2Infrastructure Releases Available NowNode binaries and Docker images for v8.0.0 are already available. Nodes can be upgraded ahead of the runtime upgrade, allowing infrastructure operators to begin preparation immediately.
Infrastructure operators are strongly encouraged to upgrade and begin testing as soon as possible.
Simpler Identity OnboardingOne of the biggest changes in v8 is a new approach to identity registration.
Historically, users joining Polymesh were required to obtain a DID through a CDD Provider, complete identity verification, and receive a CDD Claim before participating on the network. While this model established a trusted identity framework, it also introduced onboarding friction for users and developers.
In practice, asset issuers and applications still needed to perform their own onboarding and KYC processes to satisfy regulatory requirements. This often resulted in users completing multiple onboarding flows before they could begin using an application.
Polymesh v8 removes the requirement for CDD Claims and allows users to self-register DIDs directly on-chain.
CDD Providers are being migrated to a new DID Registrar model. Permissioned DID Registrars can continue to register identities on behalf of users, while users who do not require a registrar can create identities directly.
The result is a significantly simpler onboarding experience while retaining flexibility for institutions and applications that wish to manage identity registration workflows.
Simpler Asset TransfersAnother major change in v8 is the transfer affirmation model.
Historically, transfers required receiver affirmations by default, adding additional steps before assets could settle. While this helps prevent unwanted transfers, it also adds friction to the transfer flow.
In v8, receiver affirmations are disabled by default for all users.
Users can still require receiver affirmations when needed by enabling them, but the default experience is now significantly simpler and more closely aligned with user expectations from other blockchain ecosystems.
This reduces friction while preserving the ability to enforce additional controls when necessary.
Important: Applications that assume all transfers require receiver approval should review their transfer flows before the chain is upgraded.
Expanded Account Based Asset OwnershipPolymesh v7.4 introduced support for account based native asset balances as an alternative to traditional portfolio based ownership.
Polymesh v8 extends this model to support NFTs, introduces a new settlement.transferFunds method, removes the need to specify a DID in addition to an account address, and simplifies the account based settlement flow.
Identity owned portfolios remain fully supported and continue to be the preferred model for many institutional workflows where share control via secondary keys is required. However, developers can now choose between portfolio based and account based ownership models depending on their application requirements.
The Polymesh Portal has been updated accordingly, with the Portfolio page evolving into a Balances experience that supports both portfolios and accounts, and the Transfers page supporting account based transfers.
Asset Approvals and Delegated Spendingv8 introduces approval based allowances for key held assets.
This allows an account holder to authorize another account or smart contract to transfer assets on its behalf within defined limits. Without an allowance, only the account key holder can transfer assets associated with that key.
These delegated spending capabilities enable new application patterns and align Polymesh more closely with workflows commonly found across the broader blockchain ecosystem, such as ERC20 style tokens.
Allowances work in conjunction with the new settlement.transferFunds method.
EVM Smart Contract SupportPolymesh v8 introduces EVM compatibility through PolkaVM and the Revive pallet.
Developers can build Solidity based smart contracts while continuing to leverage Polymesh identity and asset infrastructure.
This opens the door to a broader range of developer tooling and application architectures while maintaining access to Polymesh specific functionality.
Hardware Wallet and Ledger Support UpdatesWith v8, Polymesh will also support the generic Polkadot Ledger application as well as the Polkadot Migration app, expanding hardware wallet compatibility across the ecosystem.
At Mainnet launch, the existing Polymesh Ledger application will be updated to a Polymesh branded version of the generic Polkadot app, while continuing to use the Polymesh specific key derivation path to ensure compatibility with existing accounts.
The Polymesh wallet extension has already been updated to support all three wallet options.
These generic Ledger applications use a metadata hash based approach, enabling support for clear signing of current and future transaction types without requiring frequent application updates as the runtime evolves.
Confidential Assets on TestnetPolymesh v8 also introduces Confidential Assets, as previously previewed on Devnet, to Testnet.
This functionality enables counterparty privacy, asset confidentiality, and balance confidentiality while maintaining the compliance and auditability requirements expected of regulated assets.
Confidential Assets will be available for experimentation and feedback on Testnet but will remain disabled on Mainnet while additional development, testing, and auditing activities continue.
This Testnet release allows developers and ecosystem participants to begin exploring the functionality and providing feedback ahead of a future Mainnet activation.
Look out for more information on Polymesh Confidential Assets in the coming weeks.
Required Software VersionsDevelopers and integrators should begin preparing to upgrade to:
Polymesh v8.0.0polymesh-sdk v30.0.0polymesh-types v7.4.0polymesh-subquery v19.6.0polymesh-rest-api v8.1.0-alpha.1 or newerThe SDK release is compatible with both the current network and v8, allowing applications to begin preparing before the upgrade.
What Happens Next?In the coming days and weeks we will publish:
Migration guidanceUpdated documentationInfrastructure upgrade guidanceUpdated Confidential Assets documentationWe encourage all developers, integrators, infrastructure operators, and ecosystem participants to begin testing against Testnet as soon as it becomes available.
If you have any questions, please reach out via Discord or our support channels.
Thank you to everyone who has contributed feedback, testing, and development throughout the v8 cycle.
We look forward to seeing what the community builds with Polymesh v8.
