We are pleased to welcome Livepeer (LPT), Numerai (NMR), and Polymath (POLY) to the Poloniex family. These new listings are part of our continued effort to identify projects with strong technology and teams that have the potential for moving the blockchain space forward. As with past listings, these selections were based solely on merit as defined in our Asset Framework, and no listing fees were collected. As with our recent listing of FOAM, we are the first exchange to to support markets for LPT. With this announcement, we’ve brought a total of 14 new assets to Poloniex in 2018.
Customers can now post limit orders for these assets (“Post-only”). Post-only mode allows the order books to fill before we open trading so that we can avoid dramatic price swings and ensure healthy markets. We will enable full trading in BTC pairs for each asset within the next 24 hours once sufficient liquidity is established.
The Livepeer project is building a platform for decentralized live video broadcasting on the Ethereum network. Livepeer enables an ecosystem where streamers broadcast live video over the network, and special network participants known as “transcoders” encode this video into the various formats and bitrates required by video players on different devices around the world. The result is a peer-to-peer streaming platform that carries the potential to be more scalable, secure, and better-suited to micropayments than traditional broadcast offerings.
LPT is the native token of the Livepeer network. The LPT token has important cryptoeconomic significance in the Livepeer ecosystem: there are a limited number of transcoder nodes at any one time, and LPT holders can bond LPT to transcoders as a way to vote and select who is able to transcode. Transcoders are rewarded for the useful work that they perform in an amount proportional to the LPT staked with them, and a portion of this reward is distributed back to the holders that have bonded their LPT to that transcoder. In this way, transcoders and participants are rewarded for supporting nodes that provide the most efficient, reliable transcoding service, which reinforces the value of the network as a whole.
Numerai is an AI-run hedge fund that makes trades based on the results of models generated by anonymous network participants. Numerai provides portions of its proprietary data sets to participants of the Numerai network using a special type of encryption that obscures the contents of the data, while still enabling data scientists to train machine-learning algorithms on that data. This allows Numerai to crowd-source its data analysis to manage its hedge fund without compromising the security of the data that it shares. In return, data scientists who submit models that perform well on live data receive a reward.
The Numerai network works because of its native token, Numeraire (NMR). Users can stake NMR tokens on their predictions as a way to express confidence in their models. Models that perform well on live data generate a reward for the user, and their staked NMR is returned. Models that perform poorly result in the NMR being destroyed. This deters individuals from submitting many, low-quality models to the hedge fund. In the future, Numerai intends to build a fully decentralized prediction marketplace that matches prediction feeds and hedge funds using the NMR staking mechanism.
Polymath is a platform for security token issuance. The Polymath team has developed an ecosystem of issuers, KYC/AML vendors, developers, and lawyers capable of aiding the issuance of regulatory-compliant tokens on the Ethereum blockchain. Polymath has also developed the ST-20 token standard — an extension of the Ethereum ERC-20 standard — to allow issuers to restrict the transfer of assets in accordance with securities laws. The platform and token standard together aims to provide a full technical and legal solution to the tokenization of traditional financial instruments and other assets.
POLY is the native token of the Polymath network. POLY is a payment token used for all economic operations taking place on the Polymath platform: issuers use POLY to pay for the creation of securities tokens, and investors exchange POLY for security tokens issued on the Polymath platform.
Wrapping up 2018
Since Circle’s acquisition of the exchange earlier in the year, we’ve published our Crypto Asset Framework as a first step towards developing an egalitarian and compliant asset selection process. This has led to the subsequent listing of what we feel are some of the best projects, teams and technologies in the crypto asset marketplace.
With our new framework in place, we listed 10 ERC-20 tokens and two blockchain platforms, ranging from highly traded assets to tokens that were not being traded anywhere else. In addition to new listings, we introduced USDC markets for several core assets and were the first exchange to offer pre-fork trading ahead of the Bitcoin Cash hard fork.
All told, we believe that we’ve had a tremendously productive year and are excited to carry this momentum into 2019. In the new year, users of Poloniex should expect more exciting digital assets, more innovation and further dedication to making Poloniex the best exchange it can be. Follow the Circle Blog on Medium and @Poloniex on Twitter to stay up to date on new listings and features. Developers can submit their projects for review through our asset listing form.
The Poloniex Team
Risk disclosure: The value of crypto assets can be extremely volatile and unpredictable. Please use caution and be sure to review the Risk Disclosures in our Terms of Service (https://poloniex.com/terms/) before making any decisions to trade on Poloniex.
Originally published at blog.circle.com on December 19, 2018.