polybird
BETA
VERSION
polybird's
Listing .
Overview
Polybird is the end-to-end platform for blockchain assets and securities. This portal is designed to provide insight into how we evaluate security tokens for listing or issuance on the Polybird platform. It is not an endorsement of any specific security or asset. We reserve full and absolute discretion to list, not list, or de-list any asset for trading on Polybird regardless of how the criteria in this framework may apply to the asset. We expect this portal and document to evolve over time.
Platform Launch
Expected Launch
Polybird is aiming to launch later this year. We are currently targeting Q4 launch tentatively.
Regulatory Circle
We would be launching using US's Alternative Trading System License for global audience. We would be working with regulatory bodies all over the world in any case to serve our global audience with full compliance in near future.
Geographical Coverage
Polybird since launch, would be available to all countries except for the residents of certain countries including Burma, Cuba, Democratic Republic of Congo, Iran, Ivory Coast, Liberia, North Korea, Sudan, Syria and Zimbabwe.
Listing Guidelines



1. Regulatory Compliance & Legal


1.1 Securities Offering Exemptions

If the asset is classified as a security and the primary offering was conducted under one of the following exemptions:

• Reg. D (506b, 506c)
• Reg. S
• Reg. A+ (Tier 1 or Tier 2)
• Reg. CF

This exemption is only limited to US investors. Since Polybird aims to be global platform, similar local exemptions can also apply at Polybird for issuance and listing.
1.2 Compliance Obligations

The primary offering of the asset met the necessary compliance obligations, including:

• Anti-Money Laundering (AML)
• Know-Your-Customer (KYC)
• Investor Suitability
• Investor Accreditation (for Reg D)
• Solicitation compliance (for Reg S)

This exemption is only limited to US investors. Since Polybird aims to be global platform, similar local compliance obligations will apply in all other non-US locations and investors.
1.3 Bad Actor Checks

The management team is run through a standard “Bad Actor” check and background check, and reviewed for integrity and reputational risk.
2. Company Mission & Values


2.1 Founding Team & Leadership

The management team is able to articulate the vision, strategy and use cases of the security token and how it creates value for network participants and the industry as a whole.
2.2 Governance

Assessment of long-term operating expectations and decision making. Defined roadmap for the financial network and outlined project goals from a business and technology perspective. Structured process to propose and implement major updates to the network, with a system or voting process for conflict resolution when already tokenized.
3. Operations and Technology


3.1 Business and Operations

Track record of management team or history of interacting with community. Demonstrated ability to set a reasonable budget and managing funds, and achieving project milestones. Cash management best practices in place.
3.2 Engineering & Security

Open source code, documented peer reviews, and/or overall assessment of the engineering team. Demonstrated focus on stringent security protocols and best practices to limit scams, hacks, and theft of funds.
3.3 Permissions

Token MUST take care of the following permissions either with an off-chain validator, or at the smart contract on-chain level.

Anti-Money Laundering & Know Your Customer - Token must only be able to transfer to validated or whitelisted permissioned addresses linked to an Entity.
Investor Accreditation - While traders using Polybird are not required to be Accredited, the token must account for this if applicable.
Geography - Since Polybird aims to be global platform, the token must have permissions incorporated relevant to where the trader is domiciled.
Cap Table - Token must account for number of owners if relevant to the security being traded.

3.4 Interoperability

In case, the tokens are traded outside our secondary trading platform, the issuers must ensure that it happens in a compliant way. For example, in case of OTC type trade, the issuer, buyer and seller must use a compliant trading desk or Polybird Trading Desk for such transactions.
3.5 Quality Check

Polybird expects the issuer to provide well documented and easy to follow guide as well as function or integration test environment. In most cases, a detailed audit of the smart contract is required.
3.6 Approved Standards

While we don't assert any issuers to strict follow the token standards but if followed, simplifies our approval process and makes it less time consuming. We would be adding more standards in future.
DS Protocol - Securitize
R-Token - Harbor
ST-20 - Polymath
S3 - OpenFinance
T-REX - Tokeny
Listing Summary



1. Documents


All documents should be provided in English Version.

Interim Report Annual Report Others
Universal Board Monthly financial report (US or Intl. GAAP review) US or Intl. GAAP audit, Comprehensive Disclosure Regulatory Required Filings
Premier Board Quarterly financial report (US or Intl. GAAP review) US or Intl. GAAP audit, Comprehensive Disclosure Regulatory Required Filings
Venture Board Quarterly financial statements Local country audit, General Disclosure Management and Business Profile
Entry Board Quarterly financial statements (Un-audited) Un-audit, General Disclosure Management and Business Profile
2. Listing Categories


All documents should be provided in English Version.

Security - Fund, Equity, Debt, Futures, Derivatives
Asset
Commodity
Stablecoin
Digital Asset
3. Legal Structure


• Offshore holding company, legal opinion letter from home country and holding company jurisdiction on equity ownership or asset ownership
• Token agreement - legal opinion on rights of token
4. Security Token ("ST") Offering Structure


• Total ST authorized, number of ST offered
• Exchange listed or applied
5. Security Token Issuance


• All major public chain tokens supported
6. Legal Compliance


• Offering Circular, Private Placement Memorandum, PowerPoint Presentation, Public Offering Document
• US, EU, UK, Japan, HK, Singapore, Dubai, Malaysia offering and secondary trading compliance service provider agreement
7. CEO & CFO Certification


• Signed by both CEO & CFO for public disclosure
Interested in listing?
Get in touch with us!
Partners
polybird
Polybird LLC. © 2018-2019
All rights reserved.
Risk Warning: Securities are offered through AX Trading, LLC, an affiliated entity, and a registered broker-dealer and member FINRA/SIPC. Neither Polybird, AX Trading, LLC, nor their affiliates provide any investment advice or make any investment recommendations to any persons, ever, and no communication through herein or in any other medium should be construed as such. Securities offered on the AX Trading ATS have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Assets listed herein are securities that are not publicly traded, may be subject to holding period requirements, and are intended for investors who do not need a liquid investment. These investments are NOT bank deposits (and thus NOT insured by the FDIC or by any other federal governmental agency), are NOT guaranteed by Polybird or its affiliates, and MAY lose value. Investors must be able to afford the loss of their entire investment. Eligibility to buy and sell securities on Polybird depends upon the circumstances of each prospective buyer and seller and the legal requirements applicable to the particular securities offering, in each case as assessed by Polybird. Offers to sell, or the solicitations of offers to buy any security can only be made through official offering documents that contain important information about risks, fees and expenses. Investors should conduct their own due diligence, not rely on the financial assumptions or estimates displayed herein, and are encouraged to consult with a financial advisor, attorney, accountant, and any other professional that can help you to understand and assess the risks associated with any investment opportunity. Past performance is not indicative of future results. Neither the Securities and Exchange Commission nor any federal or state securities commission or regulatory authority has recommended or approved any investment or the accuracy or completeness of any of the information or materials provided herein or through any references/links herein. Any financial projections or returns shown herein are illustrative examples only, and there can be no assurance that any valuations provided are accurate or in agreement with market or industry valuations. Any investment information contained herein has been secured from sources Polybird and its affiliates believes are reliable, but we make no representations or warranties as to the accuracy of such information and accept no liability therefore. (Website only) By accessing this site and any pages thereof, you agree to be bound by our Terms of Service and Privacy Policy.