KYC which means Know Your Customer in more simple terms is a way through which companies, firms, projects or businesses get to know their clients and consumers of their products and services. Of late, it has become wide issue how investors and bounty hunters struggle to pass KYC in order to receive their hard worked for tokens. The whole issue is presented in way that makes one think that passing the KYC grants the success of the project.
To my best of knowledge, KYC is just for verfication and legal backing purposes. This does not grant the success of a project.