The second round of the Neon Exchange KYC (Know Your Customer) process for registration of its token sale is currently open and will end on April 27th.
Neon Exchange held a lottery to determine who would be able to apply for whitelisting and participate in the NEX token sale. The lottery was split into two stages. 25,000 winners were randomly selected for the first round, with winners able to invest up to $1,000 in the token sale upon passing KYC. A second round was held to fill any spots left by first round participants who failed or did not submit KYC documents. Second round lottery winners are allowed to contribute up to $9,000.
KYC is an identity verification process that allows platforms like Neon Exchange to comply with government and banking regulations. All users who want to contribute to the token sale are required to go through this process. Depending on the desired investment amount, the required information will vary. The KYC process is an important part of Neon Exchange’s strategy of remaining compliant in an era of tightening regulations on ICOs and blockchain technology in general. NEX is a registered European Security.
More details about the required KYC details and NEX’s token sale can be read here.