We are pleased to announce that Numio is collaborating with PhoenixDAO and Secure Pad to develop a new NFT based, one time KYC solution for Initial DEX Offerings (IDO).
Secure Pad is an IDO one-stop shop that helps crypto projects from inception to launch. With Secure Pad you can plan, hold investor pre-sales, lock liquidity, and launch your project securely. However, being an IDO doesn’t relieve projects from regulations and that means that many will require some form of KYC for participants. We all know what that means – sending your name, email, date of birth, & Government-Issued ID, and other relevant information to the IDO, or their KYC checking company.
Traditional KYC is an antiquated system and a prime target for identity theft. Once you have sent your documents you lose all control of who gets to see and use them. If you have been involved in crypto for long you will know all too well the number of documents floating around from the Binance KYC leak.
That’s why we are working together to remove this risk with a cutting edge, one-time, NFT KYC system where you never send your documents to any third party.
One KYC to rule them all
The Numio x PHNX x Secure Pad KYC system requires just a single KYC submission for all projects launched on the Secure Pad platform, but how does this work?
If an IDO requires KYC to participate in its upcoming pre-sale, then all participants will have the option to KYC directly through Numio Identity. This process is totally automated, using advanced NIST-Grade AI to scan and verify your ID documents. The documents never leave your device and are never seen by a human. There is nothing to steal or leak.
Once a participant has passed the Numio Identity check, the Numio system will instruct PhoenixDAO to mint a non-transferable NFT on the Polygon Network, adding this to the wallet address they have used to sign up at Secure Pad. At the same time PhoenixDAO will report the newly-minted NFT token ID # back to Numio for inclusion in the Numio Identity system.
This NFT becomes Proof-of-KYC.
Participation in any Secure Pad IDO requires the applicant to hold and stake the Secure Pad token ($SEPA) in the account wallet. If this wallet also holds the KYC NFT then that account is automatically whitelisted for all future IDO offerings and the applicant won’t have to retake KYC*.
The result is an extremely secure system that gives you peace of mind that your personal documents are safe – while still allowing you to take part in your favorite IDO.
*Like all KYC checks Numio Identity is subject to a time limit and KYC will have to be retaken periodically.
About Secure Pad
Secure Pad aims to become the go-to launchpad for upcoming promising projects and helps the founders acquire talent from the crypto community. The company stays true to its namesake and offers secure and private services to its community. Secure Pad has developed a robust network that will connect founders with developers, auditors, marketers, designers, advisors, or any other necessary role to help the projects achieve their true potential.
Secure Pad is powered by its $SEPA token that offers several staking rewards by allowing the holders to participate in the projects launched on the Secure Pad launchpad. The token also has deflationary properties making it a good investment opportunity for the holders.
PhoenixDAO is a new-age decentralized platform where different dApps can leverage the PHNX-ID solution for better management. It is a community-led project that conjoins decentralized governance (DAO), decentralized finance (DeFi), and the new digital economy.
PhoenixDAO houses robust protocols such as Identity management, authentication, payment, and tokenization protocols that empower the dApp built in the ecosystem.
Apart from that, PhoenixDAO houses a set of next-gen DeFi products ( Events dApp, The DAO, and Staking dApp) that offer use cases in where industry verticals,
Numio gives you more control over your digital assets and your identity. Founded in 2020 with a vision to make crypto simple, Numio allows you to send crypto instantly, save up to 100x on Ethereum fees and verify your digital identity in a safe and secure way.
All Numio products are non-custodial, so only the account holder has access to their money. To learn more visit https://numio.one.