The crypto world is currently a digital wild west with many outlaws without faces. I have personally been invested in a few scam projects. I HODLed with faith in the better part of humanity, but eventually divested and moved on. Later, I started seeing devs teams promote that they were KYD verified. I did some research and found that KYD (Know Your Developer) is a coin dedicated to helping the crypto community feel safer in their early investments and build trust between community and developer.
The KYD team has a system to verify the devs team identity. Intially, KYD would verify teams for free, but have recently began charging for verification. All the fees are paid in KYD. They have two options for verification: public so anyone can see or a private one where only the KYD team knows the devs identity. Here is the pricing structure (pulled directly from KYD Discord, linked below) :
5,000 KYD - ICO
3,500 KYD - Launched 1m Private (exchange required)
2,000 KYD - Launched 1m Public (exchange required)
2,500 KYD - Regular Private Listing
1,000 KYD - Regular Public Listing
2,500 KYD Fast Track - Not Gauranteed to be only coin listed that day
3,500 KYD Fast Track -Dedicated day, Twitter Post
As of writing this, KYD has verified 35 teams of which 14 dev teams elected for public verification. Along with the verification system, KYD is developing a platform for hiring developers. This will help many communities that have been plagued with scammers to find a good and honest developer(s).
Even with no formal regulations, KYD as stepped up to fill a large gap in the crypto world. I am a libertarian by nature so seeing the crypto world starting to self regulate is a beautiful sight. I no longer invest in any project that is not KYD verified and look forward to seeing what else the KYD team institute to continue helping build that trust between devs and the community!
Links:
Discord: https://discord.gg/ZzJeSbN
Website: http://kydcoin.io
Whitepaper: https://whitepaper.kydcoin.io/
Verification site: https://review.kydcoin.io/
Exchange: Cryptobridge currently https://wallet.crypto-bridge.org/market/BRIDGE.KYD_BRIDGE.BTC
Staking pool: https://stakecube.net/?team=cryptonite
What do you think of KYD? Leave a comment below!
Before you go, if you liked the post, please resteem and spread the word about KYD!