How Does Assure DeFi Benefit Both Crypto Project Owners and Investors

May 24: In the cryptocurrency space, several anonymous developers publish their projects under pseudonyms. There are various reasons for this anonymity, ranging from personal safety to avoid regulatory scrutiny. While the right to anonymity cannot be questioned, there is an added element of risk with anonymous projects. There is no basis for legal action in the event of a scam or rug pull. This often leads to investors losing their entire investment. 

KYC (Know Your Customer) by Assure DeFi offers a solution that allows anonymous project teams to remain publicly unknown while providing investors with an added layer of safety and protection. By requiring project teams to undergo KYC verification, investors can be assured that they are investing in a legitimate project with a committed team to deliver on their roadmap. In addition, KYC by Assure provides a 24/7 support line for investors who have questions or concerns about their investment. As such, it’s easy to see how Assure DeFi’s service proves beneficial for anyone considering investing in an anonymous project.

Does Assure DeFi guarantee that a verified project is safe to invest in?

No, KYC by Assure does not guarantee that any particular project is safe to invest in. It’s essential to understand that being KYC’d doesn’t prevent bad actors from conducting a rug pull or scam. It does, however, provide investors with an extra layer of safety by ensuring that the project team is legitimate and committed to the project. If a project team undergoes KYC verification and then conducts a rug pull or scam, investors can take legal action against the group, with a chance to identify the team behind the project. This wouldn’t be possible without the Gold Standard verification process by Assure DeFi.

What happens in the event of a rug pull?

If a project team undergoes KYC verification and then conducts a rug pull or scam, Assure will work with the authorities to investigate the matter and take appropriate legal action. This may include working with exchanges to delist the project and releasing the identity information at the request of law enforcement. Assure also has a scam reporting form on their site where investors can report any suspicious activity.

How does Assure DeFi protect the information of project owners?

KYC by Assure stores all identity information on secure, encrypted, and decentralized servers. This information is subject to strict confidentiality agreements and will never be shared with the public unless requested by authorities with the proper jurisdiction. In addition, all data is regularly backed up to ensure that it can’t be lost or tampered with.

The risks associated with anonymous cryptocurrency projects are manifold, but KYC by Assure offers a solution that provides investors with an added layer of safety and security. The verification process benefits both project owners and investors. Project owners can remain anonymous while investors gain peace of mind knowing that they are investing in a legitimate project. Assure DeFi sets the standard for KYC in the cryptocurrency space and is committed to providing a safe and secure investing environment.