RELEASE DATE: MARCH 11, 2019
Kinesis Cayman has been very busy bringing to life the many complex aspects that make up the Kinesis Monetary System. Today Kinesis Cayman has some updates to our timelines that are necessary due to the addition, expansion and evolution of the underlying technology that Kinesis is building.
UPDATED CONTRACT SPECIFICATIONS
After much discussion with existing and future liquidity providers, we have identified new opportunities to source deep liquidity and competitive pricing. We are aligning our KAG specification more closely with the products offered by said liquidity providers. By doing so, we anticipate that participants within the Kinesis Monetary System will see the immense benefits.
The updated specifications are now published in a revised version of our Blueprint and Whitepaper, available immediately following this announcement.
KAG is now based on 1 oz of silver and the minimum contract for minting KAG is 200 oz. KAU remains unchanged.
This variation has contributed to the slight delay in releasing the KCX. However, we see the enormous benefits in terms of pricing and liquidity significantly outweighing any negatives.
UPDATED KCX RELEASE DATE
Due to the aforementioned changes, we have moved the KCX release date and the ability to mint from 18th March, to 25th March, 2019.
Once the KCX is launched on the 25th of March, KVT holders will have special access to create their eWallets and start minting KAU and KAG, while also enjoying the preferential Initial Minting Offer(*1) rate.
The features you can expect in KCX on launch are:
- Minting from fiat currencies
- Minting from existing bullion holdings through the Exchange Physical for Digital (EPD) program
Kinesis Wallet / Vault
Kinesis Blockchain Explorer
*1. Formerly referred to as the pre-ICO period.
INITIAL MINTING OFFER
KCX RELEASE: In order to give people sufficient time to capitalize upon the 3x yield multiplier effect for all minting completed during the Initial Miniting Offer period(*2) and to account for the evolution of the Kinesis Blockchain Exchange (KBE), we have decided to extend the Initial Minting Offer to 30th June, 2019.
This will be followed by the full public release of KCX and KBE on 1st July, 2019.
*2. Formerly referred to as the 15% Pre-ICO Minting Yield.
REVISED PUBLIC LAUNCH DATE OF THE KBE
Post 1st July, 2019, with the KCX and the KBE live, participants will be able to redeem physical metal, trade in and out of KAU and KAG positions and a variety of other trading pairs and participate in a variety of our unique yields.
This will mean those who don’t have the ability to mint can start to trade KAU and KAG on the KBE.
THE KVT EXTENSION INLINE WITH KCX PUBLIC RELEASE
As the KVT is a utility token which grants the holder early access to the KCX and its Initial Minting Offer, there is no benefit to listing on other exchanges or allowing trade in the KVT at this time.
In light of this, we have instead opted to slightly delay the KVT activation date until after the successful launch of the KBE; being the 1st of July 2019.We believe this additional time will contribute to the Initial Minting Offer successfully attracting significant amounts of metal into the ecosystem, and gives a good opportunity for the KMS to begin generating positive yields for the KVT holders.
We will also be revealing an initiative to reward those who mint minimum values of the Kinesis currencies with KVTs in an effort to attract the most metal possible to the Initial Minting Offer.
This will be revealed in upcoming announcements, inline with the KCX Initial Minting Offer launch on the 25th March.
CONFIRMED DATE FOR FIRST YIELD PAYMENTS
August 30, 2019 is when the first yield payments will be processed.
Our yield engine will be fully operational and our key focus is on generating velocity via ease of payment solutions, including partner integrations and the Kinesis debit card.
Anticipated August/September, 2019
We have begun development, testing and API integration work and are exploring new countries and regions for the Kinesis debit card. As we are developing outside of an internal environment, we are at the mercy of protracted processes which throw an element of uncertainty in actual launch date.
The debit card solution we are proposing is the fully integrated service where gold and silver KAU and KAG can be spent via the Kinesis debit card.
This will also integrate into the KMS for the seamless management of all of your currencies.
These updates are reflected in our Offering Memorandum that can be found HERE.
The Kinesis Blueprint has the KAG contract specifications, timelines, and the yield table updated accordingly. These updates are now live and can be found HERE.
The Whitepaper also has updated timelines and can be found HERE.