Profile Verification
Profiles are verified as follows:
for non-wallet owners via onramp verification.
for those connecting wallets, via initial kyc and wallet sanctions check
For those not following either formal verification process, gradual proof of personhood algorithm.
1 and 2 incorporate both basic verification memberships and premium memberships. cost is discussed (for simple comparison) to be c.$3 p.a. for basic members (ie cover kyc cost etc) and up to $100 p.a. for premium membership - with a growth hack discount for premium (eg first 1000 premium members costs $10; 2nd 2000 members costs $20 etc - to find price point.
Premium verification membership enables more minting of soulbound NFTs to your network and reduced payment transaction fees (see below).
Verification mints a soulbound NFT including DID information held against your Profile ID.
Verification opens access to our payment network (and other benefits as they are introduced) - enabliing verified users to pay each other. Currently under review if profile DNS service from other EOAs can be enabled if user has not yet verified their profile.
Note - differentiate profile verification here - and account activation (by email or other 2FA).
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