KVT now upgraded to Stellar

The Kinesis Velocity Token (KVT) has been upgraded to the Stellar blockchain, providing the speed, value, transferability and divisibility expected of a first-tier digital asset.

At the core of Kinesis’ native asset offering, the KVT is a digital token that rewards holders with a 20% proportionate share of every global transaction fee generated across the entire Kinesis Monetary System, through the KVT Yield. 

The Kinesis Velocity Token has been migrated from the Ethereum blockchain to the Stellar blockchain, a network enabling faster transaction execution, lower fees, and near-instant settlement times.

Divisible KVTs

The migration to Stellar makes KVTs available for purchase as a whole – or in divisible, smaller increments, with the smallest available quantity: 0.001 KVT. 

The KVT supply remains capped at 300,000 – a fixed, legally and technically restricted number that cannot be altered. This solidifies the inherent value of KVTs, with each unit retaining its rightful share in the Kinesis ecosystem.

The introduced divisibility of KVTs lowers the entry barriers for investors wishing to own a stake in the Kinesis Monetary System and start earning the KVT Yield. Moreover, the divisibility enables users to buy a fraction of their Kinesis Velocity Token, as with all other leading digital assets. 

Ethereum vs Stellar

Upgrading KVTs to the Stellar blockchain is a major milestone for the Kinesis Monetary System.

The table shows the advantages for traders and investors, with each aspect of trading and transferring lower-cost and more cost-efficient for investors.

On Stellar, the asset will offer users lower withdrawal fees and faster completion of transactions compared to the Ethereum blockchain, with transaction fees paid using KVT on the Kinesis platform, and XLM when transacting on an external wallet on-chain.

Hosted on the Stellar blockchain, KVT transfers benefit from lower on-chain fees and faster completion times. The minimum purchase, withdrawal and deposit amounts have also been reduced.

Despite the Ethereum blockchain’s heritage within the digital asset space, the Stellar blockchain offers superior performance for Kinesis users. The upgrade aligns KVT with our technology stack with Kinesis gold (KAU), silver (KAG) and native USD-backed stablecoin, USD1 (USD1).

Do I have to do anything for the upgrade?

If you hold your KVTs in your Kinesis account or an external wallet that you have linked to your Kinesis account, then no action is required from you.

During the migration, all KVTs held in a Kinesis account were automatically upgraded to Stellar.

For all ERC-20-based KVTs held in your linked external wallets, the equivalent Stellar-based KVTs have been automatically credited to your Kinesis account.

The ERC-20-based KVTs held in your linked addresses will remain visible in your wallets, but they will hold no value and be non-transferable. You will not be able to sell or transfer them to another wallet post-migration.

If you prefer to store your upgraded KVTs externally, you can transfer them to any Stellar-compatible external wallet.

Note that to export your KVTs to a Stellar wallet, you first need to establish a trustline, as outlined in our guide here.

Ensure all your external KVT wallet addresses are linked

While almost all KVT owners are not required to take any action, a very small number of KVT holders have not yet linked their external KVT wallet addresses to their Kinesis accounts. 

You can complete this process at any time, and your KVTs will remain secure at all times. However, you will only become eligible to start receiving the KVT Yield once your external wallet addresses are linked.

For any users who cannot recall if they’ve linked their external wallet – if you have been receiving KVT Yields on KVTs held externally, then your wallet must already be linked and no action is required.

Note that KVT Yields are not retroactive and will only begin accruing after the linking is complete.

See our detailed guides on how to move KVTs into your Kinesis account and how to link external KVT addresses to your Kinesis account. If you need assistance, contact our support team.

KVT Migration Future Impact

In parallel with the ongoing evolution of blockchain technologies, Kinesis is integrating the latest advancements into our ecosystem’s product suite. With the Stellar upgrades establishing the KVT as a tier-one asset, the migration advances Kinesis’ mission of bringing value, efficiency, accessibility and equitability to the digital asset space.

As blockchain technology evolves, Kinesis is bringing the latest advancements to the Kinesis product suite. With the Stellar upgrades establishing the KVT as a tier-one asset, the migration advances Kinesis’ mission of bringing value, efficiency, accessibility and equitability to the digital asset space.

The KVT upgrade is occurring in line with our regulator’s guidelines and according to an audit process to verify the issuance of the new tokens and confirm the security of our technology infrastructure supporting them.