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Waves Pledges to Pay Hefty Verification Fee Instead of Token Issuers

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Tue, 12/25/2018 - 17:24
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  • Waves has just launched the Subsidy Programme that fully covers a 1,000 WAVES fee required by BetterTokens

Cover image via U.Today
Contents

Waves CEO Sasha Ivanov has announced that $600 mln startup will subsidize all eligible projects that are willing to be reviewed by the Tokenization Standards Association (TSA). The Subsidy Programme is expected to last until June 15, 2019.   

Addressing the fee concerns

As U.Today reported earlier, Waves has recently joined the TSA (or BetterTokens), which is supposed to establish common rules inside the ‘Wild West’ industry. In their recent Medium post, they reveal that a substantial portion of comments from their community members were related to the verification fees. With that announcement, Waves wants to address these concerns and give their users a better understanding of where they are going with asset verification.    

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You asked for it

Now, Waves pledges to cover the cost of verification for those compliant with standards established by the TSA. All applicants are required to provide the list of documents in order to prove their eligibility.

Waves forks out the 1,000 WAVES ($3,590 at press time) verification fee that is set by the association. It should be mentioned that the projects aren’t supposed to return the fee if their verification attempt turns out to be unsuccessful. Subsequently, users are only supposed to pay 10 WCT ($7.85 at press time) for completing KYC.

‘Too nice’

Twitter users even claimed that Ivanov is being ‘too nice’ given that the fees have been reduced to a ridiculously low amount. Perhaps, after a 200 weekly percent surge and the recent massive funding round for their Blockchain Vostok Waves can certainly afford a bit generosity on Christmas Day.

 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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