Get Ready for q/acc Decentralized Funding! Complete Your Zero-Knowledge KYC Early with Privado ID

Are you eager to participate in the next evolution of decentralized funding? 

Decentralized funding is changing with Quadratic Accelerator (q/acc). This new protocol offers a more fair and community-driven approach while protecting against Sybil attacks and addressing regulatory compliance with sanctioned countries.

Don't wait! Complete your KYC now to get ready for the upcoming q/acc rounds. Follow this step-by-step guide and verify you are eligible early in order to participate.

This article will unpack this new primitive, highlighting how it’s transforming decentralized funding for projects and how it utilizes Privado ID to keep user identity private and self-sovereign.

How q/acc is Redefining Decentralized Project Funding

The Quadratic Accelerator (q/acc) is revolutionizing how decentralized projects receive funding by combining quadratic funding with bonding curves. 

Unlike traditional fundraising models that favor large investors, q/acc brings a more community-first approach, empowering smaller contributors by giving their donations greater weight. 

At its core, q/acc combines the principles of quadratic funding (where the number of contributors matters more than the size of their individual contributions) alongside bonding curves (a mechanism that dynamically adjusts token supply and price based on demand). This dual approach ensures that projects backed by a broader range of contributors receive more funding while setting limits to prevent whales from dominating the fundraising round.

“The Quadratic Accelerator is resurrecting the original dream of community-first tokenization. Using bonding curves ensures the tokenomics are neutral and algorithmic, and Quadratic Funding ensures that the new token economy is decentralized.”

^{Justice Conder, Decentralized Governance Advocate at Polygon Labs}‍

Protecting q/acc from Sybil Attacks and Local Regulations

However, without proper identity verification, q/acc could be vulnerable to sybil attacks, where malicious actors might create multiple identities to manipulate the system. To protect the integrity of q/acc’s funding rounds, KYC verification is required for all participants. This ensures that each identity is both verified and unique. 

KYC is also needed to comply with regulations. While many countries allow participation in decentralized funding, some regulations classify these token sales as securities offerings, enforcing strict rules to prevent fraud and protect investors. To avoid regulatory infractions, q/acc must exclude participants from jurisdictions like the US and UK, where these rules are strictly enforced. 

By verifying identities and excluding restricted countries, q/acc ensures that the funding process remains compliant with global regulations, reducing legal risks for projects and contributors.

That’s where Privado ID comes in, providing a new way of KYC with zero-knowledge proofs to keep your identity private and your data under your control.

Why Privado ID’s KYC is a Game-Changer for User Privacy

Traditional KYC systems often require users to share sensitive personal information, which is then stored on centralized servers, making it vulnerable to breaches and misuse. KYC is often seen as a frustrating process that compromises user privacy, but Privado ID flips this narrative. 

Using zero-knowledge proofs, Privado ID allows users to verify their identity without sharing sensitive information and having complete control over their private data. 

Here’s why Privado ID’s KYC stands out from the rest:

• Zero-Knowledge Technology: Zero-knowledge proofs mean you can prove your eligibility without sharing any underlying personal data.
• Data Protection: You are always in control of your data. Privado ID doesn’t store your personal information, so the risk of data leaks is eliminated.
• Simplified UX: With Privado ID’s web wallet and mobile app, you can collect credentials like proof of humanity and proof of residency easily.
• Reusable Credentials: Once you complete KYC, your credentials are reusable across other apps, chains and devices. This means that you only need to complete the process once, and your wallet will be whitelisted for future initiatives. More on KYC reusability in this article.
• Attributed KYC: Sometimes only specific attribute —like proof of residency for q/acc— are required for identity verification. Privado ID makes it easy to disclose only what’s needed, without compromising user privacy.

“Excited to see that Q/acc and Governance teams are ensuring sanction country compliance and resisting Sybil attacks for their quadratic funding needs, with a focus on user privacy. Such forward thinking in web3 will bring confidence in overall grant governance process. At Privado, we are delighted to empower such interesting use cases. Additionally, with our unified identity registry, users will also be able to verify these credentials across any chain, any device”.^‍

‍^{Ravikant Agrawal, Director of Growth at Privado ID}‍

What does this mean for you? Privado ID allows platforms like q/acc to ensure compliance and prevent Sybil attacks without compromising the core values of privacy and decentralization. You can participate in the next funding round with confidence, knowing your personal information remains confidential.

Get Verified for q/acc: A Step-by-Step KYC Guide

Participating in q/acc’s decentralized funding rounds requires all users to complete a quick and secure KYC process to mitigate Sybil attacks and abide by the project’s legal restrictions for specific regions. 

Follow these steps to get verified early and join the next q/acc funding rounds:

1. Access the KYC Portal: Head to https://q-acc.giveth.io/kyc.
2. Connect Your Wallet: Sign the transaction to proceed.
3. Get Started: Click Get Started to begin the KYC process.
4. Proceed to Privado ID verification by Synaps:
   1. Face Scan: Complete the liveness check by scanning your face to prove you're a real human.
   2. Document Scan: Use your phone to scan a valid government-issued ID (passport, national ID, driver’s license, or residence permit). 
5. Wait for Verification: Your profile will be verified within 24 hours. In the meantime, check back on the https://q-acc.giveth.io/kyc page for updates.
6. Collect Your Credential: Once approved, click the Claim button to finalize your verification.
7. Prepare Your Wallet: Ensure your address is set up on zkEVM with at least 0.00054 ETH (~$1.50) for credential fees and enough for gas. You can use Polygon’s portal to bridge ETH to zkEVM if needed.
8. Final Confirmation: Complete two small transactions: the credential fee and a gas transaction. After completing the transactions, you’re good to go!

Once verified, you’ll see a “Verified” status on your profile, and you’re ready to participate in the next q/acc’s decentralized funding rounds! If you have any questions or need support, this KYC Guide will walk you through each step or drop a message in the Giveth Discord.

*Note: If you don’t see the "Verified" button after successfully completing the verification, please close the tab, return to the website, and click the KYC banner again.

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