Cogito’s KYC officially opened, rewards with CGV tokens to early birds
KYC opened for tokenized fund offerings.
After the announcement of the official approval of our tokenized fund by CIMA on 12th January 2024, we proudly present the opening of the Know Your Customer process as well as a community campaign starting Monday 22nd January.
A limited number of users — both individual and institutional — will be rewarded with CGV token airdrops for completing the procedure.
In this article we explain the details of Cogito’s limited time offer, how to claim it, and who is eligible for it.
What is KYC?
Abbreviated version of Know Your Customer, it encompasses the cross-checking of information supplied by the user in order to ascertain their identity.
Early bird promotion
Celebrating a significant milestone on the Cogito roadmap, we’re thrilled to introduce an early bird campaign exclusively for KYC-ed investors. It has been a tireless journey towards our institutional-grade offering.
As we have covered in our previous article, KYC in DeFi is needed to thwart bad actors from performing unlawful actions such as market manipulation, fraud, money laundering, and more.
In an effort to safeguard the market and in our ongoing commitment to openness and transparency, we have implemented this procedure and planned the airdrop of our CGV tokens to the first who complete the process.
Token airdrop overview
CGV tokens are governance and utility tokens for the Cogito onchain products. As a governing mechanism, the community will be able to take part in the decision-making within our permissionless products. In addition, CGV token holders enjoy a variety of benefits, as per below.
What CGV tokens can be used for
CGV is Cogito’s native token, and its main utilities are:
- Governance
Users can vote on processes and mechanisms by which decisions are made and changes are implemented within Cogito.
- Profit sharing
A portion of the revenue accrued over the coming years will be distributed to CGV stakers in an effort to share profits made by Cogito, fostering a sense of community and rewarding long-term engagement.
- Fee waivers
Fees encountered whilst using certain Cogito Finance products can be waived with CGV tokens.
- Staking
CGV tokens can be staked in an unbonded vault on SingularityDAO in order to earn further yield over time.
Campaign details
Cogito is airdropping its own token, CGV, to those who participate in the KYC process in the following manner:
- 1,000 CGVs for each of the first 100 individuals, and;
- 3,000 CGVs for the first 50 corporate entities.
IImportant — we reserve the right to increase the pool of rewards, or to increase the number of winners.
How long is it available for?
The availability goes from 22.01.2024 to 22.02.2024, 12 AM UTC.
Who is eligible to partake in the offer?
Any individual or corporate entity that participates in the KYC process with Cogito; this does not extend to the US residents.
What information will be requested?
As per any Know Your Customer process, information that confirms your identity is needed. For individual investors this can be an ID card, passport, residence permit or a driving license — methods that lets our fund administrator ascertain the data provided is correct, legitimate, and ensures eligibility with the offer’s terms and conditions. For corporate entities the full list of required documents will be provided in the dashboard.
Step-by-step guide on how to claim the offer
To partake, follow these steps:
- Visit cogito.finance.
- Click the Sign In button in the top right corner
- Insert your email and password to crease a new account or sign in with Google.
- Once on the dashboard, the Identity Verification tab will be visible — click it.
- If you’re an individual — you will be able to provide your data via Sumsub, where the KYC process will take place.
- If you’re a corporate entity — list of required documents will be shown.
- Important — platform only allows the KYC process, subscriptions are not available yet.
- In case any specific problems/questions occur, please contact our team via team@cogito.finance.
How will the reward be granted?
After the end of the campaign, the first 100 individuals and 50 corporate entities that submitted their KYC will be identified, and the corresponding amount of tokens will be distributed via airdrop to the wallet linked to the user’s profile.
This entails there will be no claiming, and the transfers will be executed directly on our side.
Disclaimers
The information provided on our social media channels, including but not limited to posts, videos, images, comments, and shared content, is for informational purposes only. It is not intended as a basis for making investment decisions. None of the content should be construed as an offer, inducement, recommendation, or solicitation to purchase or sell any financial instrument and/or investment product.
About Cogito
Cogito provides institutional-grade products using smart contract vaults. Through tokenization, it brings traditional financial assets into the world of Onchain Finance, addressing challenges in Decentralized Finance (DeFi) such as unsustainable yield farming, credit risk, and regulatory uncertainty.
