Know your customer (KYC) is the process of a business identifying and verifying the identity of its clients.[1] The term is also used to refer to the bank and anti-money laundering regulations which governs these activities. Know your customer processes are also employed by companies of all sizes for the purpose of ensuring their proposed agents, consultants, or distributors are anti-bribery compliant. Banks, insurers and export creditors are increasingly demanding that customers provide detailed anti-corruption due diligence information.

I think that developers mean something like this one:
1) You need to verify your account
2) You trade tokens by yourself on exchange platform
3) You are happy

So it's classic token trading on exchange platform. Why developers select this abbreviation "KYC" - i don't know =)