Learn about Fractal.id for Identity Verification
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First, a big thank you to all who are currently participating in both the FantomStarter Tesnet and public sale whitelist gleam competition. The FantomStarter public sale is approximately 2 weeks away and we’d like to take the time to share with you why we have chosen Fractal ID to KYC our users.
This is not a step-by-step guide to KYCing as one will be published in a future update. We recommend all the eligible participants conduct their KYC in order to qualify for the upcoming public sale. The participants, who already have a Fractal account, can authorize FantomStarter Fractal application to verify their credentials for KYC.
FantomStarter’s approach to KYC
”What assurance do I have that the entity holding the KYC info is keeping my personal data secure?” — your average investor
Social one-click sign-ins have made logging to platforms easy but we always wondered if there’s anything similar for the decentralized web without data lock-in. And this leads to Fractal ID — an Open Authentication (OAuth) login process that offers banking-grade KYC/AML identification standards.
We hope that by reading the following you will have a clear understanding of the value and importance of using Fractal ID for your KYC needs.
Fractal KYC for IDOs
IDO (Initial Decentralized Exchange Offering) platforms are an obvious product fit for Fractal ID verification. These platforms, in general, outsource their KYC processes to third parties, thereby putting user data at risk. Fractal ID enables secure connection of its wallet to these launchpads via Web3 technology for instant verification.
As one of the leading IDO launchpads, FantomStarter also relies on Fractal ID for KYC. All the winning addresses on Gleam can create or log in with their Fractal ID and provide FantomStarter fractal app authorization (in a similar way when you log in with your Google account on a website). After the successful ID verification, the users are officially whitelisted to participate in the public sale and future IDOs.
About Fractal ID
Fractal ID is a KYC/ AML service platform that delivers fast and accurate global verifications at a conversion rate higher than 40%, compared to industry standards. It uses OCR, liveness detection, and facial recognition for the verification of national IDs and passports. Fractal ID provides bank-level KYC/AML regulatory standards and is compliant with GDPR. With its user-consent-based identification service, Fractal ID does verification and passes its clients with just first name, last name, and email; thereby ensuring authenticity while minimizing data exposure.
The Fractal Wallet is a product within the Fractal ID platform which allows users to manage their KYC credentials. The users can upload and store their credentials securely within Fractal Wallet, which can be connected to various platforms that require users to KYC.
Fractal’s marquee list of clients includes Boson Protocol, Polkastarter, Polymath, Ocean Protocol, Lukso, KILT, and Bitwala. Its popularity can be gauged by the fact that its user base has increased from 125,000 (Dec 2020) to more than 475,000 users until Apr 2021.
About FantomStarter
FantomStarter is a multi-chain IDO platform, which helps approved projects raise funds through the Fantom Opera chain. Its cross-chain interoperability provides projects a choice of blockchains with operational support from the FantomStarter team across Fantom, Binance Smart Chain, Ethereum, Polygon, and many other networks.
Investors get access to curated and vetted projects on the FantomStarter platform supporting emerging ecosystems such as Fantom and Polygon, as well as established networks such as Ethereum. Added benefits include voting for selected projects and listing them on FS launchpad through $FS Tokens or FS Keys (NFT), thus offering a truly decentralized experience to projects, as well as their investors.
Follow us using these channels to stay updated:
Website: https://fantomstarter.io/
Main Telegram: https://t.me/fantomstarter
Announcement Telegram: https://t.me/fantomstarterannouncement
Trading Telegram: https://t.me/fantomstartertrading
Medium: https://medium.com/@fantomstarter
Twitter: https://twitter.com/fantomstarter
Reddit: https://www.reddit.com/r/FantomStarter/
Inquiries: hello@fantomstarter.io
