1. KYB FORM
COSS has a systematic procedure for identifying new business partners, and are unable to establish a relationship until the identity of a new business partner is verified.
a) Client Identification Program (CIP)
The first step is Customer Identification Program (CIP), which requires COSS to collect, document, and establish the basic identity of the client (e.g. legal name & existence, registered details and nature of business activity, etc.)
b) Client Verification
COSS will verify the authenticity of gathered information, verify the client’s identity, and assess the risk of establishing a business relationship. The precise procedures for CDD and EDD depend on the risk profile of the bank that the business partner is using.
c) Client Acceptance Policy
- No client account can be opened using an anonymous or fictitious name
- Parameters of risk perception are clearly defined in terms of the nature of the client’s business activity, the client’s jurisdiction and its associates, its financial status, and any other information that COSS deems relevant.
- COSS will conduct any checks required before opening a new account to ensure that the identity of the customer does not match with any customer with known criminal background or sanctioned individuals.
Upon receipt of the legal opinion, the COSS legal team will review the documentation and will be in touch with the client’s legal team in the event that any clarification or additional information is needed.
Once reviewed, the legal team will forward the listing request to the Commercial Department.
Once the token is approved for listing, the listing fee of USD 25000 (for ERC20 Tokens) will be required to be paid by the Client and subsequently, the listing agreement will be signed. The fee is payable as follows:
- USD 20000 payable in USD/ BTC/ ETH/ COSS and,
- USD 5000 payable in Client Tokens
The Client may, in addition to the listing fee, commit to a trading promotion on COSS.io.
A trading promotion requires you to commit to a certain number of days with an initial contribution of tokens (the pool), which can be discussed with COSS management.
A typical trading promotion can be described as:
Promotion duration: days of trading, between ___and ___, ending at 2359 hrs.
- The top 10 traders by volume split 30% of the pool:
- The top 11-20 traders by volume split 25%
- The top 21-30 traders by volume split 20%
- The top 31-40 traders by volume split 15%
- The top 41-50 traders by volume split 10%
Trading Promotions can be customized as per Client’s needs.
Please note: The Listing Fee for non-ERC20 tokens (separate chains) varies on a case to case basis and is subject to discussions.
COSS's technical department will list the token or ICO dependent on the technical team’s availability and client timelines.