Many top exchanges and launchpads now require Know Your Customer (KYC) checks for project teams. By completing KYC, project teams gain access to a larger investor base, which can increase liquidity and exposure for their project.
When a project voluntarily engages in KYC (Know Your Customer), it demonstrates a commitment to transparency and establishes trust with its user base. By completing a thorough identity verification and due diligence process
With Vibranium KYC, you can maintain anonymity while still verifying the identity of your team. This is achieved by using a secure and encrypted system that only shares necessary information with authorized parties.
Proof of reserves audit is a method used to verify that an exchange, wallet or other financial service is holding sufficient reserves to cover customer balances. This type of audit is a critical component of maintaining the trust of customers in financial services that deal with cryptocurrencies or other digital assets.
The proof of reserves audit is a process in which an independent third-party auditor verifies the reserve balances held by the financial service provider. This audit confirms that the exchange, wallet or other financial service provider holds the correct amount of cryptocurrency or other digital assets that correspond to their liabilities to customers. The auditor should have no vested interest in the exchange, wallet or financial service provider being audited, ensuring that the audit is independent and objective.
The audit process typically involves the exchange or financial service provider providing a complete list of customer balances and reserve balances to the auditor. The auditor will then compare these lists and verify that the reserve balances held by the exchange or financial service provider match the total of the customer balances.