Lately, I noticed over seventy percent of masternode projects were a scam and the investors were lost huge BTC in those traps. It seems investors have lost all the faith to invest in any new projects, so is the revolution of masternode ended? No, not yet, a great project called KYD has come up to bring back the trust between developers and investors in cryptocurrency projects. KYD aka Know Your Developer is a wise project to verify developers behind projects under some specific rules to make the investment securer than before. So, in today's post, we will know how the KYD project is working to kicking out all the scam projects out there and why everyone should be using KYD.
KYD bringing faith
It is sad to remember but honestly, I have personally been invested in a few scam projects that someone has escaped with my BTC just in three days of exchange listing. Not to mention that I'm not the only one who lost money, but the saddest thing is we don't even know who the hell he was, and we will never know it. No way to bring him into a custody. I wish KYD have launched a year ago so that I wouldn't lose all these Bitcoins.
KYD is a simple process of verification for developers, that means peoples of KYD project official knows the developers of certain projects that have been verified by KYD team. Once a project gets verified by KYD, they shall be listed on the official website, so no one can claim fake verification.
Now, what's happening after KYD verification? How it is safe?
Well, when KYD verifies a project that means investors are safe from scamming like getting away with money, at least they will be able to make him sleeping inside a custody. While KYD cannot guarantee of the success of any project but it is a good idea to see before investing because I think it is a much safer way to know developers when they don't want to give info publicly. This way KYD is building trust between community and developers.
The simplicity of KYD verification
Developers need to apply for a review to be verified by KYD team. This is a link for the application page. There are a set of questionaries for basic information, identicty card picture with a handwritten selfie with date (which is reliable and secure) and more information about the project team. After application, the KYD team will look and verify/reject upon review. The process can take up to two weeks while you can expect earlier as the website presents it will take 1.5 weeks approximately.
KYD verification pricing
Top coins on coinmarketcap.com are free to get listed on KYD upon verification, and some big coin project may get a free chance under certain conditions. The usually paid listing fees as below:
Paid Listings
- 5,000 KYD - ICO
- 3,500 KYD - Launched 1 (One) month Under Private (exchange required)
- 2,000 KYD - Launched 1 (One) month Under Public (exchange required)
- 2,500 KYD - Regular Private Listing
- 1,000 KYD - Regular Public Listing
IF anyone wants to do all the process urgently, then they should consider below pricing:
Fast-Track listings
- 2,500 KYD - Fast Track: Not Guaranteed to be the only coin listed that day
- 3,500 KYD - Fast Track: Dedicated Day, Twitter Post
Also, there are public and private verification options where developers can choose the option. While I'm writing this post, till this date KYD has verified 35 projects but has no information how much has been rejected.
KYD masternode
KYD itself is a masternode coin so it's not only protecting other projects but also giving users a passive income opportunity. The masternode collateral is 10000 KYD, currently, it has 129 nodes online with over 400% annual ROI. You can check out all other information about KYD masternode in masternode.online site.
Summary and Opinion
KYD is doing a great job in order to increase cryptocurrency users because only trusts can achieve more adoption. I believe KYD team is following some strict regulation for verifying any project but it would be great if KYD publishes information for rejected projects. Because it is essential if any team failed to prove themselves, so publishing only verified team names won't stop scamming but definitely reduce. I hope, in future updates, KYD's team will consider thigking my opinion. Before I conclude this article, honestly after KYD started working, I'm feeling safe because I know they are kicking out all scams and bringing us safe investment opportunity.
Official links for KYD
Website: https://kydcoin.io
Explorer: http://explorer.kydcoin.io
ANN: https://bitcointalk.org/index.php?topic=4577571.0
Whitepaper: https://whitepaper.kydcoin.io
Verified list: https://review.kydcoin.io
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