MyTVchain ICO : Explaining KYC Process

4 min readJan 19, 2022

As we’re gearing up for our ICO, we wanted to break down the KYC procedure before the game begins.

Definition

KYC (Know Your Customer), is a standard due diligence process used by financial institutions or companies to assess and monitor customer risk and verify a customer’s identity. KYC ensures that a customer is who they say they are.

In order to meet the requirements for participating in our ICO, you have to fulfill a KYB (Know Your Business).

Why is that mandatory ?

As a French company, we need to comply with specific regulations and prove the provenance of the funds we receive. Citizens of certain countries are excluded from participating in the ICO because of the geopolitical situation of their countries (Further info here). That’s why we have partnered with Synaps to fulfill this due diligence.

The KYC process also represents a way to ensure a diversity of $MYTV holders. Thanks to this process, nobody can participate multiple times in the ICO.

How to do ?

The process will be fully integrated into the ICO website on our internal dashboard, it is designed to offer the best user experience on computers.

You will only need to provide:

An identity document (195 countries and 2500+ types of document are supported)
A selfie

Please note our ICO is inaccessible to some restricted countries (See Terms 11.1 — USA, China, …)

The KYC process will be open from Thrusday, Jan 20th and will close on February 5th (included)

1️. Sign-Up

You will first need to sign-up with :

An email address (please, use an email address that is in use, it will be used to keep you informed about your KYC status)
BEP-20 public address (METAMASK)
Telegram handle (optional)
Discord handle
URL of your repost from MyTVchain pinned message
Your pledge (in BNB)

Make sure you have read and accepted the T&Cs by ticking the square box

You can Sign-up and confirm your account with the code you’ve received by email.

2. KYC Process with SYNAPS

Coming to the KYC process.

Verify your identity

2. Submit your ID Document

A driver’s license will be not accepted because it is not an official document that proves the identity and the nationality of a person.

3. Wait for the KYC approval

Your identity has to be verified by the system. You will be contacted by email as soon as your KYC is approved.

3. What’s next ?

If your KYC is approved, you can participate (at least) to the ICO — phase 2.

For more information on our ICO, read our announcement.

4. How to participate in phase 1 ?

Grab your whitelist spot by interacting with people in the Discord, gaining XP through challenges, winning Whitelisting contests.

If you can’t make it to Phase 1, don’t worry! You can still participate in Phase 2 as long as your KYC has been approved.

ABOUT MYTVCHAIN

MyTVchain is a free and decentralized web telecast platform where fans, clubs, and athletes interact with each other directly, participating in live telecasts, challenges, giveaways and a suite of Defi services backed by a platform utility token and an NFT marketplace.

Its‘Fan2Earn’ model prioritises sports enthusiasts to back their favourites directly while earning rewards from their success.