Kinesis Minting Programme Terms & Conditions

1.1 The Kinesis Minting Programme (“KMP”)  enables eligible participants to get rewarded with Kinesis gold (KAU) and receive minting rebates when creating new gold (KAU) coins via the Kinesis Mint.

1.2 Each Kinesis gold (KAU) coin is backed by 1 gram of fully allocated, audited, and redeemable physical gold. Participants are rewarded in gold (KAU) for every qualifying minting transaction.

1.3 The Kinesis Minting Programme (KMP) rewards and rebates apply according to the participant’s Tier (as outlined in section 4), based on their eligibility status for the calendar month. Each Tier has a defined daily minting limit (metal value excluding fees) per participant per day, as follows:

• Tier 1 – Daily minting limit: $100,000
• Tier 2 – Daily minting limit: $500,000
• Tier 3 – Daily minting limit: $1,000,000

Any minting beyond this threshold incurs standard fees, with no rewards or reimbursement of minting costs.

1.4 Only minting activity conducted between Monday 00:00 (UTC) and Friday 23:59 (UTC) each week will be eligible for the Kinesis Minting Programme. Minting conducted on Sundays will not qualify.

1.5 Rewards and rebates are credited weekly to each participant’s Kinesis accounts.

1.6 The KMP begins at 00:00 UTC on March 4th, 2025, with no set end date. Kinesis will email users upon the programme’s official conclusion. 

1.7 By participating, users accept these terms, including all applicable fees, rebates, yields and market conditions.

2.1 Through the KMP, eligible minting participants receive:

       A reward of 2 basis points (0.02%) in Kinesis gold (KAU), calculated at the time of minting (assuming flat market conditions with sufficient liquidity).

       A rebate of the following minting-related fees:

• • Minting Fee: 0.45%
  • Exchange Fee (KAU/USD): 0.22%
  • Spread: Fixed at $0.20 per KAU

These rewards are available on minting volumes within each user’s Tier limit, with rebates and bonuses settled weekly, subject to market activity and participant conduct. 

2.1.1 Rebates accrue weekly from Monday (00:00 UTC) to Friday (23:59:59 UTC) and are credited into the minter’s Kinesis account every Tuesday. 

2.1.2 In the event a user mints gold (KAU) one week, then sells that gold in the following weeks, they will receive a KMP follow-up payment for any outstanding rewards and rebates.

2.2 Through the KMP, participants may also qualify for additional yields, subject to meeting specific eligibility criteria:

• Minter’s Yield: Earned by minting and activating (transacting) gold (KAU)
• Velocity Yield: Earned by using (spending or trading) gold (KAU)

2.2.1 Kinesis Partners are not eligible to receive the Partner Yield on any volume generated by their Referrals or Referral Networks through the Kinesis Minting Programme or mint cycling.

Partners will continue to earn the Partner Yield on all other qualifying volume not associated with the Kinesis Minting Programme or mint cycling.

2.2.2 Referrers are not eligible to receive the Referrer Yield on any volume their Referees generate through the Kinesis Minting Programme or mint cycling.

Referrers will continue to earn the Referrer Yield on all other qualifying volume not generated via the Kinesis Minting Programme or mint cycling.

2.2.3 Yield payouts are proportionate to each participant’s activity, based on the volume of KAU minted and traded relative to other eligible participants across the Kinesis system.

2.2.4 Yields are distributed monthly, during the first week of each new month, based on the previous month’s accruals.

3.1 Participants must hold a fully verified Individual or Business Kinesis account and have successfully completed all KYC/AML verification checks.

3.2 To join the Kinesis Minting Programme (KMP), participants must meet the one-off Entry Requirements outlined in section 3. Meeting these requirements qualifies the participant for default Tier 1, with the opportunity to progress to higher Tiers (detailed in sections 4 & 5) based on ongoing minting activity.

3.3 To qualify for default Tier 1 of the Kinesis Minting Programme, participants must meet one of the following criteria:

3.3.1 Hold one or more Kinesis Velocity Tokens (KVTs) for over one year (prior to March 4th 2025); or

3.3.2  Meet one of the following eligibility requirements:

Note: these eligibility requirements must be met after March 4th 2025 (activity prior to this date will not qualify for the KMP).

• Purchase 10 KVTs via the Kinesis Exchange*
• Refer 10 individuals to the Kinesis platform
• Onboard 3 businesses to Kinesis
• Trade $500,000 on the Kinesis Exchange
• Spend $10,000 via the Metalback programme 
• Spend $10,000 using the Kinesis Virtual Card

*KVTs must be purchased directly on the Kinesis Exchange, remain in the Kinesis account and not be transferred to external wallets or received as deposits. Only direct purchases qualify.

4.1 The Kinesis Minting Programme operates on a tiered access structure, further detailed in section 5. A user’s Tier is determined by their qualifying activity within the programme, assessed on a monthly basis.

4.2 Each Tier carries a defined Daily Minting Limit, which determines the maximum volume eligible for rebates and bonuses under the participant’s current Tier status.

4.3 At the start of each calendar month, all users revert to Tier 1 by default. To access Tier 2 or Tier 3 in any given month, users must meet the specified qualification criteria for that Tier during the preceding month. No grace period applies for non-qualification.

4.4 Upon joining the Kinesis Minting Programme, users who meet the Entry Requirements (outlined in section 3) will receive automatic Tier 2 access for their first month in the programme (up to a $500,000 daily minting limit) as an introductory incentive. To maintain Tier 2 access or progress to Tier 3 (up to a $1,000,000 daily minting limit) in the following month, users must meet the relevant criteria within their initial 30-day period.

4.5 Users will be notified of their updated Tier status at the end of each month via email.

5.1 The following tier structure takes effect from 1st July 2025 at 00:00 (UTC). 

Tier 1 – Default Tier 

Daily Minting Limit: $100,000

Tier 1 is the default starting tier for all verified users who have met the one-off Entry Requirements outlined in Section 3. No additional monthly activity is required to maintain Tier 1 status.

Tier 2

Daily Minting Limit: $500,000

Users must complete all of the following within the calendar month:

•  Refer 2 new verified users (Individual or Business)
•  Spend at least $200 via Metalback or with a Kinesis Pay merchant
•  Trade at least $200,000 volume on the Kinesis Exchange*

Tier 3

Daily Minting Limit: $1,000,000

Users must complete all of the following within the calendar month:

• Refer 3 new verified users (Individual or Business)
• Spend at least $1,000 via Metalback or with a Kinesis Pay merchant
• Trade at least $1,000,000 volume on the Kinesis Exchange*

*Note: Trade volume may be accumulated across multiple trading pairs (e.g. $250,000 in BTC/USD and $750,000 in USD/USD1). KAU/USD trades do not count towards the qualifying volume threshold. 

Activity associated with Mint Cycling is excluded from all volume calculations.

5.2 Referral-based Tier Criteria

5.2.1 To be counted towards the KMP referral-based Tier criteria, newly referred users must complete full identity verification through the Know Your Customer (KYC) process.

5.2.2 Referred users may complete their identity verification at any time. However, they will only count towards the referrer’s Tier qualification in the month their verification is fully completed.

5.2.3 To be included in the month’s KMP Tier assessment, referred users must complete their identity verification by the end of the preceding calendar month. Any referees who complete verification later will be counted towards the Tier assessment in the month their identity verification is completed.

Example: If a participant refers a new user in May, but that referee only completes their identity verification in June, the referee will count toward the Tier qualification for the month of July.

5.2.4 If a KMP participant successfully onboarded more new referees than required for a given Tier within one month, the surplus referees will be carried forward and counted towards Tier qualification in subsequent months.

Example: If a KMP participant successfully refers 6 new users in a single month (who also complete full identity verification), this may fulfil Tier 2 requirements for three consecutive months, or Tier 3 requirements for two consecutive months, upon meeting all other applicable tier criteria.

5.3 Alternative Tier Qualification Criteria

Where the Metalback spending programme is not available in a participant’s country of residence, the participant may instead meet the Trade volume* alternative to satisfy specific tier requirements:

• Tier 2: Trade a minimum of $250,000 on the Kinesis Exchange
• Tier 3: Trade a minimum of $1,250,000 on the Kinesis Exchange

This alternative is strictly available to users ineligible for the Metalback programme due to jurisdictional restrictions.

*Trade volume may be accumulated across multiple trading pairs (e.g. $250,000 in BTC/USD and $750,000 in USD/USD1). KAU/USD trades do not count towards the qualifying volume threshold. 

Activity associated with Mint Cycling is excluded from all volume calculations.

6.1 Minting refers to the process of creating new KAU tokens by converting USD into Kinesis gold (KAU), then entering them into circulation on the Kinesis platform.

6.2 Minted KAU is securely stored within the global Kinesis vaulting network and can be traded, spent, or further mint-cycled within the Kinesis ecosystem. 

6.3 Kinesis reserves the right to adjust the minting process and applicable fees in response to market or regulatory conditions.

6.4 Only Kinesis gold (KAU) qualifies for KMP rewards and rebates. Kinesis silver (KAG) is not included in the Kinesis Minting Programme.

7.1 Participants may engage in Mint Cycling, a process involving:

• Step 1: Transfer USD funds from the Kinesis platform to the Kinesis Mint.
• Step 2: Mint gold (KAU) by converting USD into gold (KAU) via the Kinesis Mint.
• Step 3: Sell minted gold (KAU) for USD on the Kinesis Exchange.
• Repeat step 1 

7.2 Rebates apply to successfully completed cycles.

7.3 Kinesis reserves the right to revise or suspend the Mint Cycling process without prior notice.

8.1 Under flat market conditions, with sufficient liquidity and no significant price movement, standard minting-related costs comprise of:

• Minting fee: 0.45%
• Exchange fee: 0.22%
• Fixed spread: $0.20 per gold (KAU), representing the difference between the BUY price on the Kinesis Mint and the SELL price on the Kinesis platform.

8.2 Under the Kinesis Minting Programme, the standard minting fees outlined in clause 6.1 are fully rebated on a weekly basis, subject to prevailing market conditions and participant behaviour.

Rebates and resulting returns may vary depending on market spreads, trading volumes, and overall system liquidity.

8.3 A non-refundable $5 withdrawal fee applies when transferring USD from the Kinesis platform into the Kinesis Mint. This fee is not reimbursed under the KMP.

9.1 Participation in the Kinesis Minting Programme involves exposure to:

a. Price volatility in the gold market affecting KAU, which may lead to costs that exceed the total value of KMP rewards and fee rebates.

b. Delays in transaction processing, which may result in unrecovered costs.

9.2 Returns from participation in the Kinesis Minting Programme are not guaranteed and will vary according to prevailing market conditions and each participant’s individual trading strategy. Kinesis accepts no liability for any losses, gains, or overall performance resulting from participation.

9.3 Participants bear full responsibility for conducting their own market analysis, including assessing timing, spreads, and liquidity. Engaging in rapid or automated mint cycling without thorough evaluation may diminish returns or cause losses. Kinesis disclaims all liability for any negative outcomes arising from uninformed or negligent trading decisions.

10.1 Kinesis reserves the right to modify, suspend, or terminate the Kinesis Minting Programme at any time without prior notice.

10.2 Users are responsible for reviewing these terms periodically for updates.

11.1 Kinesis is not liable for any losses incurred as a result of market fluctuations, third-party or technical service failures, or changes in regulatory environments.

11.2 Participation in the KMP does not constitute financial or investment advice. Kinesis does not provide recommendations for users to buy, hold, or sell any assets. Before deciding to buy, sell, or hold any asset, users must carry out their own due diligence and seek guidance from a qualified financial advisor. Kinesis accepts no responsibility for any decisions made by participants to buy, sell, or hold assets based on information provided by Kinesis. All such decisions remain entirely the responsibility of the participant.

11.3 Participants must comply with the Kinesis Terms of Use and complete Identity Verification.