They say crypto moves at the speed of light — and today was no exception. The Wasder team let us know today that all IDO participants must by fully KYC’d. Zero will be doing our KYC via Sumsub. We will integrate Sumsub directly into app.0.exchange during the KYC period. When we first announced the ZeroGravity IDO platform we had said that KYC requirements were up to each individual project, and I guess when Logan Paul starts tweeting about your DEX and your inaugural IDO — things change.
The first big change — the TGE and listing will occur on 05/07/2021 at 12:00 PM EST / 16:00 UTC — this is to give everyone that can KYC enough time to KYC.
The second big change will be that we will be changing the snapshot window due to these new requirements — the first official snapshot will be occurring tomorrow at 05/01 2:00 PM EST / 18:00 UTC and we will publish the whitelist on 5/5 at 2:00 PM EST / 18:00 UTC. You will have 24 hours to KYC. Wallets that properly KYC’d will have the opportunity to pay for and claim their WAS IDO allocation on 5/6 at 2:00 PM EST / 18:00 UTC.
The third big change after working closely with the 0.Exchange lawyers, which may become a permanent one for the ZeroGravity Lanchpad, is a simple one. Any wallet that “wins” an allocation but cannot KYC will have their WAS tokens sold for them via our market maker. Once the market maker has completed the sale of the WAS tokens, we will make your proceeds available via a claim on 0.Exchange. We are a decentralized exchange, but we still have to follow the law — and this is a compromise where we feel that all ZERO holders (both those that can KYC and those that cannot) can realize value from qualifying for the various ZeroGravity tiers.
We feel confident this allows whitelist winners to participate in the opportunity, regardless of any jurisdiction restrictions.
This is an exciting change, and one that we think is “first of its’ kind” for a DEX — and one we hope the 0.Exchange community can rally behind!
The core idea of Wasder is to make gaming personal for you, to fulfill people’s need of being part of a group for shared identity. Wasder makes it possible for gamers to engage in their passion by providing the tools that bring us together. All in one personalized space.
The 0.Exchange Protocol realigns incentives for network participants by introducing revenue sharing and community driven network effects to the popular AMM model. 0.Exchange prides itself on freezingly low transaction and trading fees, 0 finality, 0 hassle, and 0 frontrunning!