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KYC Gating

KYC Gating: Enhancing Security in the Memecoin Space

PreviousClaim RewardsNextBuilt for MMs & CEXs

Last updated 6 months ago

The memecoin space is full with bad actors, and while we can't eliminate them entirely, the GFM Protocol is committed to doing everything possible to help protect your fundraising campaign.

KYC Protection Embedded in the Smart Contract

The GFM Protocol brings KYC (Know Your Customer) protection directly into the smart contract. We offer the option to gate your fundraising campaign, allowing only verified individuals to participate. This added layer of security helps ensure that your campaign is backed by real people, not bots or bad actors.

How It Works

We’ve integrated Civic directly into our smart contract to provide seamless KYC verification. Here’s how it works:

1 Wallet per 1 Person:

  • If you enable KYC protection on your pool, any investor who wants to participate must undergo a quick, 30-second KYC verification process using Civic.

  • Once verified, their wallet will be uniquely attached to them, preventing them from linking an additional wallet to their account. This ensures that 1 wallet represents 1 person.

This approach reinforces the security of your campaign, giving you confidence that the number of wallets involved more accurately reflects the number of genuine individuals investing.

Seamless Integration with Civic

Our KYC enforcement tool is fully integrated into the smart contract, meaning that while funding remains permissionless, any transaction will only succeed if the wallet has been verified through Civic. This ensures that every participant is a verified individual, adding a critical layer of trust and security to your fundraising efforts.