🤜The Rights of KYC Users

When a user completes the KYC process, it signifies the creation of their self-sovereign digital citizen identity, which is their official ME ID. At this point, the user immediately gains three privileges:

• A reward of one MEC token as specified in the genesis block rules.

• The ability to mint a ME ID.

• The privilege to receive daily MEC release rewards.

1 MEC Reward: Upon completing KYC, users will automatically receive one MEC token as a reward, as specified in the genesis block. This MEC token is permanently bound to the user's address.

Permanent Staking Rewards for the above 1 MEC: Since the obtained 1 MEC is staked permanently on the network, users can daily earn staking rewards.

Staking rewards will be issued in the form of MEC tokens to the user's wallet, and they can be transferred or reinvested to earn more staking rewards. The more you stake, the more MEC rewards you will receive, but it won't increase the staking reward rate. According to the rules, the staking reward rate is highest at 25% in the first year and then halves each year. The earlier you complete KYC, the closer your staking reward rate will be to this value.

We refer to the above benefits as "Unconditional Basic Income."