The most awaited second AMA has been out, answered by Next exchange's CEO and COO. Please follow the below link
https://medium.com/nextexchange/july-ama-ceo-coo-d65cdefc3adf

No KYC is mandatory only for fiat transactions, If you are transacting with crypto, you dont need to do KYC.

Whatever you expect from the best crypto exchange, NEXT have it.

1. Reduced fees for trading
2. Staking of POS based coins
3. Masternodes
4. Token Creation
5. Governance
6. IEO
7. Vote to List
8. Access to fiat
9. Personal wallet with private keys of your own.
and lots more.... 

Next Exchange is preparing for it's mainnet and version 1.1 release.
Now triple redundant with the new HP C7000 with 16 Gen9 server (telco- and bankgrade) and ready to take over the market .
These images were just shared by next exchange ceo.

Guys, The first masternode is already up and running on next chain mainnet. I will update once mine is active and running.