Gitcoin's KYC

What is KYC?

• KYC stands for ‘Know Your Customer,’ and it is a set of regulated standards used to verify identity in order to prevent criminal activity and fraud. It is something Gitcoin must comply with in order to prevent legal actions and fines.

• Another benefit of KYC is that it helps us address questions from our matching partners. Before donating matching funds, our partners want to ensure that their funds are going to legitimate grantees.

Who needs to do KYC?

• Grantees earning more than $15k in matching funds OR in the a16z round. There is a separate KYC process for each of these.

How do you fulfill the KYC requirements if you have more than $15k in matching funds?

• Grantees earning more than $15k in matching funds should look for an email from [e-mail] and follow the requirements. You will need to provide the following information:

For persons:

• Full Name

• Physical Address

• (Only if you’re a US Citizen) Social Security Number

• Proof of physical address (such as a utility bill, water bill, landline bill, electricity bill, internet bill, gas bill, or bank statement)

• Proof of identity (government issued ID)

For corporations:

• Corporation Legal Name

• Physical Address

• Proof of physical address (utility bill, or bank statement)

• Proof of Incorporation

Why is there a separate process for the a16z round?

Certain rounds may have their own specific KYC requirements and process - so far this has only been the a16z round. Grantees in that round will have received an email with more info on the specific requirements.

If I’ve done KYC with Gitcoin in the past, do I need to do it again?

Yes, we have created a new system for GR15 therefore you will need to complete KYC again for this for the new system.

How long will it take for me to hear back?

It typically takes 2-5 business days to verify you met the requirements for Gitcoin’s KYC process. Once you’ve met the KYC requirements, you will receive a notification to claim your matching funds

Will my information be kept private?

• Yes, when fulfilling Gitcoin’s KYC requirements, your information will be entered into a software tool we use to verify identity and only be made available to a select number of people at Gitcoin. No one else.

• We do however share with funding partners the status/outcome (not the details) of that KYC process. This helps partners confirm someone they are funding is not on a sanctions list.

Why does Gitcoin have a KYC requirement?

Gitcoin must abide by the legal restrictions of the jurisdictions we are registered in. Certain round sponsors may also have their own requirements based on their jurisdiction. We believe in privacy but must follow applicable laws.