Grey Network News: KYC Phase 1 Goes Live Today

Grey Network News: KYC Phase 1 Goes Live Today

Grey Network News: KYC Phase 1 is officially live on the mobile mining app. The project confirmed the rollout on August 8, 2026, through its verified X account.

The update marks the first formal compliance step for the mobile mining project, which lets users tap once every 24 hours to earn the native GREY token. 

Know Your Customer (KYC) is the identity check platforms use to confirm a user is real, and the team says this step is the gateway to wallet security and future mainnet access. 

Source: Official Post

Readers comparing mobile mining models can also review this mobile mining comparison with Torium Network for wider context.

Official Rollout Details Confirmed

According to the announcement onapp.minegrey.com, the verification stage is built around three stated goals: data protection, a short step-by-step flow, and bonus rewards for members who complete checks early.

The team describes this stage as a milestone toward a "secure, verified, and trusted ecosystem," rather than a one-time formality. It states that every verified member adds to overall strength as the project works toward mainnet.

Why the User Cap Matters

A limit of 100,000 users applies to this opening round. Users outside that window will need to wait for a later round to open.

Source: Official Website

The table below summarizes the confirmed details of this rollout.

Detail

Confirmed Information

Stage name

KYC Phase 1

Go-live date

August 8, 2026

User cap

First 100,000 active miners

Stated goals

Identity security, simple flow, early bonus rewards

Purpose

Wallet security and mainnet readiness

Source

Official X account and app.minegrey.com

Token Structure Behind the Announcement

Background token details tied to this round have also been shared. Total supply is fixed at 2.1 billion GREY, with 70 percent set aside for the community pool.

Source:Official Tokenomics

This structure means earlier participants generally earn at a faster rate than those who join later.

1. Verification unlocks further wallet functions for confirmed users

2. The community pool covers 70 percent of total supply

3. Reward output slows in steps as adoption grows

What Comes Next

No fixed date has been published for when the second identity check round will open. The rollout has been linked to eventual mainnet migration, without a confirmed migration date.

Those who are not part of the first 100,000 slots are expected to get another window later, based on the phased language used in the announcement.

Expert Opinion

This capped, staged approach to identity checks follows a pattern common among mobile mining projects that build a user base before a token becomes tradeable. Limiting the opening round to 100,000 confirmed accounts gives the project a controlled test group before a wider rollout.

The reward decay structure, tied to user count rather than time, links token issuance to actual adoption instead of a fixed schedule. This is a design choice, not a guarantee of price performance once the token becomes tradeable.

Conclusion

The verification rollout gives a clearer picture of how Grey Network plans to move from mobile mining toward a live, tradeable token. 

The next milestone to watch is when a second round opens for users outside the current cap. Users can track further updates through the project's official channels.

Disclaimer: This article is for informational and educational purposes only. It does not constitute financial advice, investment guidance, or a guarantee of returns. Readers should conduct independent research before making any decisions related to cryptocurrency projects.