⚡︎ANNOUNCEMENT OF VOTING RESULTS

Dear Rubi Community,

After an active 48-hour voting period, we are pleased to announce the results of the vote for the KYC 1.5 and KYC 2.0 updates. The total number of votes cast was 11,619, indicating enthusiastic participation from the Rubi mining community.

The voting results are as follows:

• KYC 1.5: Received 6,155 votes (accounting for 52.97%)
• KYC 2.0: Received 5,464 votes (accounting for 47.03%)

(Summary of KYC results across voting groups)

Chanel / Votes / Ratio / Power

WHAT IS KYC 1.5?

KYC 1.5 is the name of an KYC version, for which the development team has previously conducted a detailed comparison between KYC 1.5 and KYC 2.0. For those interested in the comparison, please visit here (direct link).

KYC 1.5 is an upgraded version based on the KYC1.1 Global version, which was successfully tested and implemented in October 2023 with over 6000 accounts completing KYC and receiving network partner certificates.

❖ What are the upgrades?

✓ Access pressure reduction mechanism: Unlike KYC1.1 (V1.1) allowing miners to freely request unlimited KYC, leading to tens of thousands of access requests at the same time, V1.5 implements a mechanism to randomly send reminders to ensure reminders are sent daily within processing capacity (600 - 1000 KYC/day).

✓ Ownership information verification: To limit all cases of creating multiple fake accounts, waiting for KYC changes and selling, or borrowing someone else's ID to KYC and consolidate RBL into one account. In version V1.5, it will combine matching with ownership information, along with other statistical rules to prevent a user from attempting to bypass the rule of one real person per account.

✓ Fee collection and revenue sharing with verifiers: Version V1.5 applies a fee for KYC requests, with global miners having fee levels depending on their choice. The collected fees will be shared with the verifiers according to the pre-announced rules (see rules).

✓ KYC priority selection: From version V1.5 onwards, priority fee levels will be applied, similar to how the bitcoin network prioritizes transactions with higher fee levels. Rubi applies priority fees for KYC priority competition. There are 3 priority fee levels in order: Level 1; 2; 3. In which version V1.5 will apply fees = RBL with the levels being 2 (RBL); 4 (RBL); 8 (RBL).

A note to miners from Vietnam, with abundant RBL supply available, will be prioritized with double fee levels of 4; 8; 16 (RBL) respectively. This is to ensure equal competition with global miners in KYC priority options (Please note: Any miners from Vietnam with questions about this issue, please comment below the post).

❖ Do I have to KYC again if I've already done it?
The answer is no. Rubi uses KYC with the main goal of authenticating contributions to the network by actual individuals, proving assets generated by real people, and preventing fraud. Therefore, when Rubi miners have passed previous KYC, regardless of the version, it remains equally valid. Miners who have passed KYC1.0, 1.1 are fully entitled to partner status without the need to reapply for KYC in subsequent rounds.

❖ Performance of KYC 1.5 KYC
1.5 will still be a limited KYC version, as it is only a temporary upgrade, and KYC operations are still centralized without applying a decentralized delegation mechanism. Therefore, the initial performance of KYC 1.5 is expected to reach 600 - 1000 KYC/day and can be expanded further by increasing the number of verifiers.

EXPECTED KYC DEPLOYMENT TIMELINE

The development team anticipates taking about 2 weeks to implement the necessary upgrades, including allowing the system to match ownership information, establish queues, notifications, fee collection, and synchronize certificate issuance.

Therefore, we expect the release of the KYC version to be around the first half of April. As the accounts with completed ownership information are deployed, notifications will be provided daily.

WHAT DO YOU NEED TO PREPARE?

KYC1.5 considers both information and behavioral factors to authenticate real users, distinguishing them from fake accounts and automated bots. For instance, continuous and regular mining activities may indicate bot behavior.

KYC1.5 employs a filter for sending invitations, so ensure that you're a genuine user by following these simple steps:

• Ensure that your account's ownership information has been completed for at least 30 days. If you haven't completed your account information, refer to the instructions (here)
• Maintain regular mining activity, as the system only sends new invitations to actively mining accounts.
• Set up a Rubi wallet and store enough Rubi to cover the preferred KYC priority fee you'll select (for example, if you plan to select priority fee level 2, you'll need to have 4 RBL available).
• Prepare documents such as your national ID card or passport that match the ownership information of your account to facilitate your KYC process.

CONCLUSION!

With the final tally leaning towards the KYC1.5 version, we conclude that this will be the selected version for development. This result also represents the decision-making power of the mining community on critical network issues, based on the perspectives and assessments of miners' interests.

We sincerely thank each member for participating in the voting process. This outcome will propel us further in developing Rubi and constructing a digital financial environment that is safe, equitable, and transparent.

Sincerely thank you!
From RUBI Team

Come back KYC Article Series

⎕ • Related Content

■ ⚡️ Instructions for voting to choose KYC version

■ ⚡️ COMPARATION KYC 1.5 AND KYC 2.0