What is Polimec?

Polimec (Polkadot Liquidity Mechanism) is a fundraising mechanism for the Polkadot ecosystem that uses KILT’s issuance, proof and verification of KYC (Know Your Customer) or AML (Anti-Money Laundering) credentials. It is an open-source blockchain system designed to help get liquidity into Polkadot-based projects that are not yet ready to sell transferable currencies on their own technology. Using a concept like the ERC20 smart contract mechanism, Polimec will allow the issuance of pre-currencies on Kusama or Polkadot, as it enables ecosystem projects to issue transferable pre-coins before go-live of their mainnet.