Verification of projects
We at JVault are constantly working to ensure that our investors' funds are fully secured. To this end, our pre-sale platform has been equipped with several options to help potential investors make informed decisions about investing in projects.
Using our decentralised project launchpad, you may have noticed that some projects may have an "Audited" icon. This signifies that the founder of such a project has undergone KYC (Know Your Customer) verification.
KYC
Project founders who are looking to increase the confidence of potential investors can undergo KYC identity verification.
KYC (Know Yor Customer) is a set of procedures we carry out to verify identity. The identity of the project owner is established by providing identity documents (passport, national ID card) through an automated platform (KYC provider).
Purposes of verification
The KYC procedure is due to the fact that Launchpad tries to keep investors safe from fraudulent activities. Identity verification acts as a deterrent for unscrupulous project founders.
Fraudulent activities
In case any of the members of the KYC project teams are found to be involved in fraudulent activities, we will, with evidence, immediately disclose their identities and release the information we have to the intelligence agencies who are in the process of initiating criminal proceedings.
If you have details regarding project founders or project team members that their project or actions are fraudulent, please contact us.
Requirements for projects undergoing verification
A project applying for KYC must fulfil all the following requirements:
The project must have been operating for at least 2 months and be able to prove this fact.
The project must have at least one functioning service, into which the token to be launched will be integrated in the future.
The project must have a clear whitepaper containing tokenomics and a roadmap.
The project whitepaper must describe the mechanisms for creating value for the token.
If even one of these conditions is not met, JVault will reject the verification request and the service fee will not be refunded.
Passing identity verification
To start the identity verification procedure, you need to pay a fixed fee by sending 500 USDT (TON) to UQBFcHJGsunmhLoy6yi6Ec-eiaSEnizwnvLzHOtE3CDnvh4Z, indicating the project website in the comment, and then submit the completed form.
You will have to provide the following information:
Link to the service payment transaction
Link to the project website
Detailed description of the project
Link to a post on any social networking site that confirms the age of your project
Address of the token to be launched
Description of the launch token's role in the project
Link to the project whitepaper
First Name, Last Name, Patronymic (if available)
Telegram Username for communication
Your role in the project
Mailing address (with project website domain)
Preferred language for the KYC process
Next, you will be contacted by our manager who will provide you with a link to take KYC on ShuftiPro automated platform.
Once you have completed the KYC process on the ShuftiPro platform, you will have to complete the final stage of KYC:
Record a video clip, and voice the following script:
My name is: [Name].
My Project: [Project Name].
My role in this project: [Position].
By this video, I certify that the information I have previously provided is true, including the information I have sent to JVault. I am aware that any unreliable information may result in legal action being taken against me.
Some projects buy other people's documents to use them for KYC process. More often than not, such projects engage in fraudulent activities towards investors. I realise that in such a case, JVault will publish my documents and other personal details. They will also be shared with intelligence agencies and other law enforcement agencies to track and arrest me wherever I am.
I will face imprisonment and will have to pay back all the money stolen from investors. This will be fair to me, even if I was just pretending to have some involvement in the project. I take full responsibility for the actions of this project.
I confirm that I am fully aware of the legal risks of going through the KYC process.
Video call in Telegram with a person undergoing identity verification. You will have 2 attempts to accept the call. If this condition remains unfulfilled, regardless of the circumstances, the fixed fee is non-refundable.
Refund
In the previous section, we have explained in sufficient detail the instructions for undergoing project verification. If you do not agree with the methods of our procedure, please do not pay the fixed fee prematurely. By paying the fixed KYC processing fee, you agree that you are not entitled to a refund under any circumstances.
You are required to be honest with us by providing genuine documents, your real legal name and your real role in the project. Failure to comply with these requirements will result in immediate cancellation of your KYC without refund.
Important notice
Putting a project in the ‘Audited’ category does not mean that JVault endorses or recommends that project. DYOR.
The project verification process can take up to 72 hours.
Last updated