Should NEX review the KYC requirement for Staking?


(Yoruba Angel) #1

Hello Guys,in regards to KYC being required to stake, am suggesting the team should only enforce KYC for a very high amount of NEX tokens (for example above 5000 tokens). One of the reasons binance has huge volumes trade is that it allows customers onboard and trade up to 2btc daily without any KYC requirement. Why should kyc be required to stake for less than 1000 NEX tokens?


(FCC) #2

KYC requirements for trading and staking are different. There will be a tier with no KYC required for trading below certain volume.


(Yoruba Angel) #3

Thank you for the response @canesin . Glad to know there will be tier with no KYC required .


(Crypto Fox) #4

Hi Fabio, I was lucky enough to participate the 2nd round of ICO and have been through my KYC. Do I still need to go through KYC again in the future for staking?


(Nick) #5

@Crypto_Fox highly likely you’ll need to KYC again.


#6

for what was said in the AMA in amsterdam and what I have read, for the staking you need to make KYC


(Rory) #7

I wonder how the KYC for staking will differ from what we did in the ICO. Will it be a repeat of what was already done (ie passport + photo etc) or be more stringent requiring more info/proof of identity?


(Olu ) #8

Thank you for making this clear distinction. This shows that robust thinking and planning is going into the mechanics of the NEX platform. The idea of self-regulation is a commendable preemptive measure. :muscle: