Why is there a need to pay a monthly fee?

Concordia Ventures, being a platform which accepts digital assets, has to undertake the additional costs of conducting KYC (Know Your Customer) on our users. This KYC process is necessary in order to maintain a high level of quality among backers and investors.

Typically, it costs between US$20 to US$50 to perform KYC on an individual. However, Concordia Ventures heavily subsidised this KYC cost. Our project owners pay just a flat monthly fee regardless of how many backers support their projects.