11th February 2020
Temporary suspension of trading KVTs on the Kinesis Exchange
At Kinesis, we strive to deliver value to our clients, and Kinesis Velocity Token (KVT) holders. The value of KVTs, as outlined in our blueprint, is derived from a fully operational product suite, designed to deliver yields based on transaction fees and velocity.
Velocity is key to the success of the Kinesis Monetary System, and we have taken the position to preserve the value of the KVT until we deliver our current product road-map, which will also be made public shortly. This includes the Kinesis debit card, additional currency pairs (including BTC pairs), mobile applications and merchant integrations, which are envisaged to be primary drivers of velocity.
Therefore, trading of the KVT on the Kinesis Exchange, has now been suspended, effective immediately, until these integral pieces of the Kinesis Monetary System have been released. Please note all open KVT orders will now be cancelled.
This is a temporary suspension of KVT trading on the exchange and we will re-list them once we have met the objectives above.
Deposit and withdrawal functionality for KVT in your KMS account will remain active, meaning you can still access your KVT holdings and store them in your KMS account if you wish.
This temporary suspension has been put in place to protect KVT holders and the value of the tokens. This is a commercial decision which has been made in an evolving landscape, to protect all participants, and to align our products for delivery of the Kinesis Monetary System.
We thank you for your ongoing support of the Kinesis Monetary System.
For regular progress updates tune in to our Live from the vault episodes, filmed every two weeks. These are designed to keep our community abreast of all initiatives, developments and product releases.