# HPAD - Participation in IDOs
# What is a project pool?
A project pool is a smart contract created specifically for IDO purposes. The project pool (smart contract) stores the tokens of projects that are raising funding through HStarter HPAD and it collects payments from HPAD users interested in participating in the IDO. The smart contract has pre-defined parameters such as the start and end dates of the IDO, the minimum contribution and maximum allocation for each user, and it ultimately manages the IDO process transparently.
# What is KYC?
KYC is an acronym for ‘Know Your Customer’ and it refers to the process of identity verification of each person participating in funding rounds on HederaStarter Launchpad. The KYC process is geared towards ensuring that HPAD members are in compliance with anti-money laundering requirements and anti-terrorism financing rules, in addtion to being politically-exposed persons or residents of restricted jurisdictions.
# How do I perform KYC?
To begin the KYC process, click here. KYC service is provided by a 3rd party company specialized in that matter. Your data is not sent directly to HStarter, we just receive confirmation that your identity is valid.
Do I need to perform KYC for every IDO?
No, you are only required to undergo the KYC process once.
# How long do I need to wait for KYC approval?
It takes the KYC company usually only a few minutes to verify your data and provide documentation but in some cases it may take up to 24 hours. You should receive an email with confirmation of success. Then, please wait up to 24 hours to have that mirrored on the HPAD website. Remember that KYC process is required only once.
# How do I know if I passed the KYC process?
You will receive the success message instantly or after a few hours right to your registered email address. You are also able to see your KYC status on HStarter dApp.
# Who decides if IDO projects are delayed?
Usually it is a mutual decision between the IDO project team and HederaStarter. It should never happen without proper argumentation, available to the HederaStarter community.
# Who can participate in an IDO? Are there any prohibited jurisdictions?
HStarter welcomes everyone to apply and participate in public IDOs - once you have completed KYC and have the minimum HSTART requirements for each IDO.
You will not be able to complete KYC and participate in IDOs if you are resident in certain restricted prohibited jurisdictions that includes the following countries: Cambodia, Ghana, Afghanistan, Mauritius, Myanmar, Nicaragua, Pakistan, Senegal, Syrian Arab Republic, Yemen, Iran, North Korea, United States of America (except accredited investors), United States Minor Outlying Islands (except accredited investors).
# What’s the difference between premoney financing and public IDO stages?
Premoney financing, also known as ‘private/seed sale’ is a token sale round reserved for particular members or groups of investors. In HStarter, for example, Industry Councils participating in HDAO can get access to particular premoney stages. Usually it involves slightly different prices per token and prolonged vesting schedule.