Grey Network's first KYC round just hit its cap. This Grey Network KYC update confirms that Phase 1 has reached and crossed the 100,000-user limit set when verification opened.
New users can no longer enter this round, based on the official community post. This Grey Network KYC report breaks down what changes now, for both existing and new participants.
Grey Network confirmed that only the first 100,000 users were ever eligible for KYC Phase 1, as stated when the round launched. That milestone has now been reached, and access has closed to new entrants.
Users already inside that first 100,000 group keep their spot. The official post states every Round 1 participant will be able to finish verification before the round's stated closure date, with no Phase 1 user left behind.
Detail | Status |
Phase 1 cap | 100,000 users, reached |
New user access | Closed, must wait for Phase 2 |
Existing Phase 1 users | Can still complete verification |
Phase 2 launch date | Not announced |
Alongside the cap announcement, Grey Network raised its daily Step 2 verification limit. Step 2 covers email and OTP verification, one stage in the broader KYC sequence.
Daily capacity moved from 300 users to 600 users. The project said this change targets faster queue movement, after the earlier setup placed heavy load on servers and affected app responsiveness. This Grey Network KYC capacity increase applies to the batching system, not a one-time unlock for all pending users at once.
Users who finished Step 1 can check their KYC dashboard for a queue position and estimated unlock time. Those who have not completed Step 1 yet were urged to do so, to hold their place in the Step 2 queue.
New users outside the first 100,000 must wait for KYC Round 2. No launch date for that next round has been announced as of this writing.
For Round 1 participants, the dashboard reportedly ties progress to token access. Completing Steps 1 and 2 unlocks a 5% claim of a user's own mined coins, not a bonus or a share of total supply. Further KYC stages are needed to unlock more.
This connects to Grey Network's broader roadmap, which includes a non-custodial wallet, a migration bridge moving mining balances toward mainnet, and an eventual token generation event. None of those later stages carry confirmed dates yet. The project's mining rate also follows a halving schedule tied to user growth milestones, including the 100,000-user mark reached here.
A GREY-denominated Marketplace is also in development. The project has said its listed products and checkout actions are currently simulated, with no real payments or deliveries processed yet.
This Grey Network KYC milestone closes one door while widening another. Round 1 is capped and closed to new users, but faster Step 2 processing should move existing participants through verification quicker. Anyone waiting on GREY coin access should track official Grey Network channels for Phase 2 details and further roadmap updates.
YMYL Disclaimer: This article is for information purposes only and is not financial, investment, or trading advice. All figures are based on official Grey Network sources, including its website and official social media posts, available at the time of writing. KYC timelines, unlock percentages, and roadmap milestones are project-stated and subject to change. Crypto assets are volatile and carry risk of loss, including full loss of funds. Data here reflects information available as of the time of writing. Always verify current details directly with the official project and consult a licensed advisor before making investment decisions.
