The concept and goals of this project are important to let the investors know bout the developers they are invested in. It isn't project but teams in which we invest and believe that they will deliver. The initiative at the same time can reduce the scams by providing lot of information and rating about developers to know and decide based on facts. It impressed me from whatever I studied little bit so far.
Yeap, your opinion is correct.KYD is a good one, and a good supplementary project for crypto investors.
This one help them at somewhat extents to have better overview on transparency of project they are interested in.
However, KYD verification has definitely not a guarantee that a project is not a scam one. This point is important.
Yes there will always be scams out there in crypto just like there is in everyday life. There really is no avoiding it but KYD are doing their best at making buying into projects a lot safer as the dev teams that do verify would think twice before scamming as their ID's are shown to the world. The KYD team are working on making this verification a lot more better in the future.
This will hopefully become a standard. How much is it to get a development team verified?
I know there have been some changes recently as there was another option to verify where it was not shown to the public which has since been scarped. The price could of changed for public verification but last I knew was 1k KYD coins to get verified which is a regular public listing.
Review & Listing will take approximately 1.5 week.
Verification Fees
The verification fees depend on the status of your coin. More established coins require less verification than newer coins. Therefore, there is a difference between coins.
Paid Listings
- 5,000 KYD - ICO/Presale
- 2,000 KYD - Launched 1 month Under Public (exchange required)
- 1,000 KYD - Regular Public Listing
Free Listings
- Free - Special Public Listing Top 500 Coin on CoinMarketCap (or high profile coin)
Fast-Track listings
- 2,500 KYD - Fast Track: Not Guaranteed to be only coin listed that day
- 3,500 KYD - Fast Track: Dedicated Day, Twitter Post
I think the developers should be publicly known as soon as they raise a lot of money or otherwise the risk is just too high that they run off.
THe dev teams will be public no matter what as the private listing will be phased out in December and I'm sure its already phased out but the site hasn't been updated. So the only way now is public verification so we at least know who the dev team is, I would however like to see more added to the public verification like links to the dev teams Facebook, Linkin etc... This is something the KYD team can work on to make the platform more transparent.
