Process to KYC : with Fractal-ID

Paragen
3 min readMar 9, 2022

As you are all aware, to be fully compliant, paragen must enable kyc for participation in crowdfunding. However paragen does not store your data, we have partnered with Fractal protocol, the third party organisation used to check kyc as well as integrate its technology into our launchpad.

On-Chain Secure KYC Process:

A pre-requisite to participate is that you must KYC only ONCE for your wallet to be accepted. This is to ensure compliance, however, note that we ensure FULL security of your information by storing it On-chain with Fractal. This is also to minimise dual entries from multiple wallets owned by the same user. Fractal is the service provider 3rd party utilised by Paragen.
Click me to kyc

Lets Get familiar with the KYC Colours on your account: Once you connect your wallet you will realise that on your accounts page there is a kyc status alert. You must start verification to begin participation in projects. this is a one time requirement.

KYC has not yet been initiated
  1. Click Start Verification — At this stage you have not yet initiated KYC.
KYC has been completed and is under review by fractal

2. You have Completed the KYC form and now the results are pending. The wait time is usually 24 hours. however if there are issues or unclear sent photos, it may take longer. Fractal will contact you if there are any issues via email.

KYC has been approved

3. Congratulations, your KYC has been successfully approved and your wallet is verified. You will NOT be required to repeat this process.

KYC has been rejected — ask why

4. Unfortunately your KYC has been rejected. This is for multiple reasons, and the first is that you have not responded to your email sent by fractal in the case of sending unclear or blurred images. Other reasons include that you are from a countries that is not allowed to participate.

Certain Countries have banned their users from participating in any IDO’s/IGO’s or crowdfunding. If you are from one of the banned countries then you will not be able to participate in the Paragen launchpad. This is unfortunate and is out of the capacity of Paragen. Rest assured that the remainder of the world can participate so long as correctly KYC’d.

List of Countries Banned from participating:
Albania, Burundi, Herzegovina, Barbados, Botswana, Central African Republic, China, Republic of the Congo, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Israel, Jamaica, Cambodia, Libya, Myanmar, Nicaragua, Somalia, Serbia, South Sudan, Uganda, United States, Venezuela, British Virgin Islands, Zimbabwe.

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