Purpose:
The main goal of this project is to establish a standard for reusable KYC (for end-users & DAOs) within the greater NEAR ecosystem. The rationale for this is providing KYC as a main building block for DAOs & Dapps within NEAR to operate compliant.
The requirements for our proposal includes:
a) Opt-in (only users / DAOS that wish to be KYCd)
b) Fit with existing DAO building blocks e.g (Sputnik / Astro)
c) Allow multiple KYC providers to support worldwide coverage (when one provider is serving a certain jurisdiction better than others)
d) At a later point allow KYB providers
e) Avoid
Two different approaches:
We propose two different solutions which will both rely on third party KYC SaaS providers and both require a proxy contract (whitelist payout) where DAO funds will be distributed on approval and will be held until KYC status is - true. A general downside of the proposed solutions are that council members will have to be mindful of the payment destination, which is always this proxy contract to avoid (unKYCed) payouts
Assumptions:
- Option 1 assumes that proposal CAN be created at any time and is riskier
- Option 2 assumes that use will not be able to created proposal until KYC status is true
Option 1: Refundable model
Option 2: Non-refundable model
Complementary KYC approaches in development on NEAR
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KYCDAO, has received a grant to allow a user to receive a NFT once they have become whitelisted
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Synaps, uses a DiD approach by using the decentralised cloud provider Aleph
Towards a standard - your opinion matters!
We are eager to get your feedback on which of the two approaches (or others) you prefer and why. We will summon a call with Sputnik, Astro team, Synaps & KYCDAO to move forward, let us know if you wish to be included!
Gus, Denys ‘Stardust’ & the rest of the NEAR DEV LABS Team