🛂KYC policies on Haven1 blockchain

This document details KYC & KYB requirements on Haven1

Haven1 is NOT a regulated entity and conducts identity verification as a public service to enhance the network's integrity. Builders and users should not assume that these verifications meet all jurisdictional regulatory requirements. Please ensure that additional compliance needs specific to your jurisdiction are independently met

Haven1 conducts ID verification as a public good on the network to make users can transact safely on Haven1.

Applications building on Haven1 network may choose to personalize user experience on the platform based off anonymized data available on the Haven1 Passport NFT or may seek user consent to get additional attributes.

hPassport Lite

All users are required to have a valid email to transact on the Haven1 network. Lite users may be subject to lower rate limits as a whole, and all transactions and assets bridged into the Haven1 ecosystem are subject to transaction screening and monitoring to ensure funds entering Haven1 clean.

Haven1 and Network Guardians reserve the right for frequent and ongoing screening against regulatory lists. Any user or wallet identified as a match on an AML list may have their hPassport suspended and subject to off-boarding and blacklisting from the network. Users will have the opportunity to appeal for reinstatement through our customer support team.

hPassport (i.e., hPassport Full)

1. User Verification

All users (Individuals or developers or Corporates) may choose to undergo a verification to transact with certain applications on the Haven1 platform, become eligible for certain features or functionality, or improved rate limits for transacting.

1. Identity Verification Process for Individuals

• As an Individual user, you will be expected to declare your country of residence and nationality

• You will also have to undergo a Liveness check and capture photos of the Government issued ID document live.

• Verification process will also involve a facial match against the photo on the provided identification document to confirm your identity.

• You(individual or corporate) will be allowed only one Proof of Identity NFT(Haven1 Passport), which can be linked to multiple wallets through settings in the Haven1 Portal.

• Certain applications may require additional information to be collected, which will be surfaced as a request on the specific application. If you continue with adding additional information, upon your consent, this data can be shared with other applications in the Haven1 ecosystem that require, providing a seamless user experience.

1. Identity Verification Process for Corporates

For corporate users, we will be capturing an extensive set of information. This will include:-

• Your corporate information such as Company Name, Registration Number, Jurisdiction Country and Address

• Legal representative will undergo a liveness check, live capture of ID document, address verification , authorization in case legal representative is not listed in register of directors and shareholders

• Certificate of incorporation, memorandum of association and register of directors and shareholders

• UBO verification

  • When UBO is a company : submission of certificate of incorporation, memorandum of association and register of directors and shareholders.

  • When UBO is an individual : ID information and Proof of Address will be collected of every director and every shareholder with more than 25% ownership

• Certain applications may require additional information to be collected, which will be surfaced as a request on the specific application. If you continue with adding additional information, upon your consent, this data can be shared with other applications in the Haven1 ecosystem that require, providing a seamless user experience.

All developers deploying applications on Haven1 will have to go through KYB before their application is available on Haven1 Mainnet.

1. Screening Against Regulatory Lists

• For individuals, The name, date of birth and nationality(wherever available) is extracted from the identification document will be cross-referenced with relevant regulatory lists. Any potential matches will undergo manual review, and verified matches will result in the rejection of the identity verification.

• For corporates, the corporation as well as all officers and shareholders will be cross referenced against relevant regulatory lists. Any potential matches will similarly undergo manual review, and verified matches will result in the rejection of the identity verification.

• All transactions and assets bridged into the Haven1 ecosystem are subject to transaction screening and monitoring to ensure funds entering Haven1 clean.

1. Document Acceptance and Restrictions

Electing to complete your full hPassport may lead to restrictions on your account or transacting in the Haven1 network as a whole.

For other countries, Haven1 will accept commonly accepted ID documents such as

• National ID Card

• Passport

• Driving License

• Residency Proof

1. User rejection scenarios

An individual or an institution may be refused onboarding on Haven1 because of the following scenarios

For individuals:-

• The user provides a forged document

• The user is flagged as a duplicate

• The user is flagged for a face match that does not match

• The client is listed on a sanctions list, subject to restrictive measures, or has a positive match with the unfavorable media list related to AML-CFT

• The client is a Politically Exposed Person (PEP).

For corporates:-

• The provided data does not allow clear identification of the UBOs

• The user or the corporate is domiciled in a high-risk country (cf. 5.),

• Any of the directors is listed on a sanctions list, subject to restrictive measures, or has a positive match with the unfavorable media list related to AML-CFT

• Any of the directors is a Politically Exposed Person (PEP)

1. hPassport NFT

Upon successful identity verification, a hPassport NFT (What is hPassport?) will be minted and linked to the user’s wallet.

This NFT will include details such as:-

• Whether the hPassport is suspended or not

• the date of ID verification

• expiry date of the ID document if available (in case of individual)

1. Continuous Screening

Haven1 and Network Guardians reserve the right for frequent and ongoing screening against regulatory lists. Any user identified as a match on an AML list may have their hPassport suspended and subject to off-boarding and blacklisting from the network. Users will have the opportunity to appeal for reinstatement through our customer support team.

1. Refresh of Identity Information

• Users are required to update their identity information upon the expiry of their ID document or after three years from the date of last verification, whichever occurs first.

• Users will be given a notice to update their information within a certain time period leading up to expiry date. In case the user doesn't refresh their information, their hPassport may be subject to suspension which can be reinstated if they pass identity verification again.

• Users residing in FATF grey list countries may be needing to renew their identity verification more frequently.

1. Data Security

• Identity information will be securely stored by our Identity verification partner.

• This partner complies with the General Data Protection Regulation (GDPR) and acts solely as a Data Processor

• The partner will not have access to user wallets, ensuring no linkage of stored identity information to on-chain activities.

1. Applications on Haven1 decide their compliance policies

• Applications on Haven1 can restrict or permit access based on the country information provided in the hPassport, and may request user consent to share required data, which can further restrict or grant application access.

• Applications may request additional identity information from users, subject to user consent.

• Applications may require users to refresh their identity verification periodically to maintain access to services. This will necessitate users to undergo the verification process again.

• Haven1 is not a regulated entity and conducts identity verification as a public service to enhance the network's integrity. Builders and users should not assume that these verifications meet all jurisdictional regulatory requirements. Please ensure that additional compliance needs specific to your jurisdiction are independently met

1. KYC partner strategy

• Initially, Haven1 will operate with a single KYC partner. We will work with Sumsub. Plans are in place to integrate multiple partners over time to prevent unfair user censorship.

• Periodic audits will be conducted to ensure that our KYC partner complies with set Service Level Agreements (SLAs) and maintains high standards of verification quality.

Haven1 is NOT a regulated entity and conducts identity verification as a public service to enhance the network's integrity. Builders and users should not assume that these verifications meet all jurisdictional regulatory requirements. Please ensure that additional compliance needs specific to your jurisdiction are independently met

¹ a physical person is needed at the end of the structure; when an entity is Ubo, the structure must be prolonged until a physical individual is identified.