An Important Note to Our Smartdrop Participants Regarding KYC
Dear Smartdrop participants,
As mentioned in our previous Smartdrop update, Morpheus Labs has implemented a KYC for batch 4 (and onwards). This implementation caused a small delay for which we want to apologise. (Learn more: https://medium.com/@morpheuslabs_io/an-important-announcement-on-distribution-of-smartdrop-batches-20ed9598efed )
The next Smartdrop distribution (batch 5) is on 26 September. We will start the pre-validation process on 24 September 2019. Please respond to pre-validation form within 5 days (by 28 September). We ask that you take some time to read about our KYC procedure as followed.
Many investors wonder why MITx requires completing KYC procedure and how to do that. With verifying process implementation, our investors and Smartdrop participants ask about similar issues. Here are the frequently asked questions:
- What is KYC? KYC or Know Your Customer is a process of verifying customer’s/client’s/investor’s identity. It reduces the risk of illegal manipulations inside Morpheus Labs ecosystem and protects our investors/contributors.
- Why do i need to get verified on Morpheus Labs? We’ve seen a significant increase in illegal and unethical behaviour in the distribution of the batches that is hurting the stability of the token in a negative manner which is also hurting the community as a whole. Please understand that it’s important that we do these checks because it protects you as a contributor to the project. The bottom line is this: we’re doing this not only to protect the project, but to protect you, as token buyers, from the possibility that anyone could claim these funds are not legitimate.
- Do I need to pass KYC before getting Smartdrop tokens? Why? Yes, you need to pass KYC before getting Smartdrop tokens. We do that to protect you and ensure no violation of the Smartdrop activity is done. This is a process everyone has to pass including team members.
- Benefits of KYC? Generally, KYC is done as a precaution against illegal activities like money laundering, bribery or corruption.
KYC Procedure for Batch 5
Commencement: 24 September, 12pm (GMT +8)
Closing: 28 September, 4pm (GMT +8)
- Whitelisted participants will receive an email from us in batches, so please be patient with us. Confirm your email and fill in your particulars as soon as possible. We will stop taking in response after 5 days. Please take note of the closing date.
Benefit of verifying your email and details early: Any issues with KYC can be solved before the distribution begins.
2. After having your email verified, you will receive an email from us to submit a selfie of you holding your passport.
- Only passport document will be accepted.
- Photos must be clear and in high-resolution, with all information clearly visible.
- Documents presented must be original (not copies).
- Passport must be valid (for example, passports that have expired will not be accepted)
4. Only one application may be submitted by each individual.
- Only participants who have passed the KYC will be notified within 48–72 hours.
- Do not wear glasses, headphones or wireless hands-free devices, a hat or head covering. If you wear a hat or head covering for religious or medical purposes, please make sure that your hat or head covering does not cast shadows on your face.
- Scammers are actively targeting the Morpheus community. Emails will only come from firstname.lastname@example.org.
- Morpheus Labs has sole discretion whether to approve or reject any application.
Why has KYC failed?
1. Please upload the document with your certificate of identity. If the certificate of identity details are inconsistent with your particulars, we can not accept your KYC verification.
2. Please check that the photos you uploaded are clearly visible. If there are ambiguous parts on the image, we can not accept your KYC verification.
3. Please follow our prompts to take a photo and pay attention to check if the text information is written as required.
We seek your kind understanding and patience in this matter.
PS: We will not use your personal data for purposes other than what we have informed you, or which are permitted under local laws and regulations. We will not offer, publish or share your personal data with third parties outside of the Morpheus Labs for commercial purposes, without seeking your explicit permission. All data collected for KYC procedure will be deleted after distribution is completed.
We would love you to be a part of our Community! Join our official Telegram group chat: https://t.me/morpheuslabs
Meanwhile, stay connected:
Visit our website @ https://morpheuslabs.io