Public Minting Offer (PMO) Bonus Terms Explained

Offer 1:

Receive 1 KVT per US$50,000 of KAU or KAG minted during the Public Minting Offer

Kinesis is pleased to offer 1 KVT per US$50,000 of KAU or KAG minted during the Public Minting Offer (PMO).

A Kinesis user is able to reach the required cumulative sum of $50,000 from multiple mints, within the PMO period, effective from 11:59 BST, 13th July 2020, set to end at 23:59, December 30th 2020. For example, a first mint of US$15,000 and a second mint of US$35,000 during the PMO, would make the minter eligible for a KVT.

The $50,000 can be reached in the form of multiple Kinesis currencies. For example, if the first mint of US$25,000 is in the form of KAU and the second mint of US$25,000 is in the form of KAG during the PMO, the minter would be eligible for a KVT.

In order to be eligible for a second KVT under this program, the minter must exceed US$50,000 cumulatively on a second occasion, during the PMO. There is no restriction on the quantity of KVTs each user can obtain during the PMO period.

The value of the amount minted will be the total price of the transaction, taken at the time of minting, as seen below.

The KVT is not divisible and minters who do not meet or exceed each unique US$50,000 threshold during the Public Minting Offer will not be eligible to receive any KVT(s). Kinesis will contact all eligible minters at the end of the Public Minting Offer to confirm their number of eligible KVTs under this program. KTVs are offered under this program in accordance with the terms of the Token Sale and Use Agreement or the Simple Agreement for Future Tokens, as appropriate, which the minter originally entered into for the purpose of acquiring the previous KVT.

Please note that Kinesis may change or discontinue this offer at any time during the Public Minting Offer at its discretion, whereby it would communicate this decision via email, its website and the recognised Kinesis Telegram group.

Any person availing themselves of this offer and having the ability to mint by buying Kinesis Currency or transferring bullion for EPD is required to have signed up to the Terms of Use and completed KYC as appropriate during the application process.

Offer 2:

Costs covered for transfer of bullion into Kinesis vaults

Kinesis is pleased to offer 1 KVT to existing bullion investors who transfer their bullion holdings to Kinesis under the EPD process and mint Kinesis currencies, where their costs incurred for moving such bullion exceed US$1,000.

If you are storing metal at another approved location and would like to move your metal to Kinesis and mint Kinesis currencies, please contact us for further details.

In order to qualify you must:

  • Comply with the ABX Quality Assurance Framework for the bullion deposit process;
  • Provide an invoice from an approved transport agent showing the details of the costs incurred for bullion transport, in excess of US$1,000;
  • Mint your deposited bullion into KAU or KAG during the Public Minting Offer.

Please note that Kinesis may change or discontinue this offer at any time during the Public Minting Offer at its discretion, whereby it would communicate this decision via email, its website and the recognised Kinesis Telegram group.

Any person availing themselves of this offer and having the ability to mint by buying Kinesis Currency or transferring bullion for EPD is required to have signed up to the Terms of Use and completed KYC as appropriate during the application process.

For more information on the EPD process and requirements for bullion deposit, please visit our EPD page, here.

Offer 3:

3x multiplier when calculating Minter’s Yield on Kinesis Currencies minted during Public Minting Offer (PMO)

The PMO period is effective from 11:59 BST, 13th July 2020 and is set to end at 23:59, December 30th 2020. Take advantage of this limited-time offer which provides a 3x multiplier effect to the Kinesis Currencies you mint when calculating your proportional entitlement to the 5% of transaction fees allocated to the Minter’s Yield pool.

For example, a minter who mints 1,000 KAU during the PMO period will, in perpetuity, be recorded as having minted 3,000 KAU when calculating their proportional contribution to the total number of KAUs in circulation. Please note, this does not mean a minter will receive any extra Kinesis Currencies from minting in their e-Wallet; it applies only for the purposes of the Minter’s Yield calculation.

Following the close of the PMO period, those who mint during the public release will be calculated and continue to receive their proportional share of the 5% Minters Fee pool in perpetuity, but with no multiplier associated.

The Minter’s Yield is only activated after eligible Kinesis currencies are sent to another KYC verified Wallet or Vault address (please note: This can only be done after KBE launch), spent via the Kinesis debit card or other recognised Kinesis venues as these become available, or sold from the offer side on the KBE.

Status Minter TotalKAUs Minted Multiplier Adjusted Total Proportionate Minter’s Yield
PMO Bob 1,000 3 3,000 30% 89.175
Public Alice 5,000 1 5,000 50% 148.625
Public Charlie 2,000 1 2,000 20% 59.45
             
Total   8,000   10,000 100% 297.25
             
Total KAU Fee Pool   5,945        
5% Minter Yield Pool   297.25        

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*Please note: If you are a citizen of the US you will need to be an accredited investor in order to receive the KVT bonuses associated with the PMO. If you are not an accredited investor you will still benefit from the PMO 3x multiplier yield and can begin minting.