As discussed in previous articles, each of the CRWD Network's participants and their respective tokens plays an important part in it. The CRWD Platforms and their respective Platform keys are not an exemption to that statement.
Now, it will be explained in more detail how a platform can become and what it means to be a participant of the CRWD Network.
To ensure the quality of the CRWD Network, each of the new platforms has to pass a verification process. This process follows the same standards as those followed by CONDA, and it requires legal agreements with each new platform.
When the legal requirements and agreements are in check, the platform will receive accredited platform keys by CONDA. These keys are whitelisted in the smart contract, and allow the platform to list new projects. Therefore, the keys allow to create security tokens for the project's crowd sales.
To ease the process of joining the CRWD Network, CONDA also offers its platforms the option to use a CONDA white-label solution. This solution can be incorporated into the network in a way that the new platform can start listing projects in a very short timeframe.
Platforms that are part of the CRWD Network are entitled to a percentage of the Network's fees paid in CRWD Token.
The percentage of fees, from each project raising funds through the platform, goes to the responsible platform. Considering that the platform handles adding investors to the network, it is also responsible for employing a KYC provider. The KYC provider will take care of the legally required process needed to allocate new investor keys.
This upfront investment of the platform in its KYC provider and whitelisting the new investors are rewarded by the CRWD Token. The CRWD Token is paid as a fee whenever users invest in projects or resell their shares. Therefore, the CRWD Token can recuperate the efforts of issuing new investor keys, if the investors brought to the network by the platform are willing to invest.
The primary reason for involving a third party KYC provider is to discourage the platform to list anybody, even the people not willing to actively participate in the network. By making the new platforms pay for the KYC process, the number of active participants ready to invest in projects, not only on the respectable platform but internationally, is bound to increase.
The additional development of the network might bring a different solution. It could be possible in the future that people can select a KYC provider by themselves to be able to whitelist in the CRWD Network, as a part of the growth process and an additional level of decentralization in the network.