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Kinesis - The Revolutionary Gold and Silver Monetary System on the Blockchain
With the great anticipation heading into the end of quarter releases, we wanted to provide a quick update to our community, in addition to the scheduled communication of the upcoming quarterly update.
The yield engine dashboard will be released by the end of this month, followed by a week-long period allowing for any remaining wallet address linking. Once this is completed on 7th July, the first Minter's yield will be paid to all eligible minters for all retroactive minting between April 2019 and the 30th of June 2021.
From July 1st onwards, Kinesis users will be able to receive and track their Minter’s yield payments, paid monthly in gold and silver, through the Kinesis Money platform. The all-new yields tab will allow system participants to keep track of their yield payments to-date, yield eligibility, as well as monitor total KAU and KAG in circulation and total yield fee pool amassed across the entire Kinesis system.
We have been rigorously preparing for this release, which has been subject to a significant amount of quality assurance and testing. It’s important to note that while this release is yet another small step forward in Kinesis completing the foundational core pillars of our system, it is a quantum leap forward for the Kinesis vision.
After the initial launch of the yield engine, subsequent yields will be brought online and rolled out throughout the year, with the Holder’s yield the first to follow. We look forward to bringing you further announcements on this monumental milestone for the Kinesis Monetary System, and the precious metals industry as a whole.
The new Kinesis website has been developed over the course of 3 months and will be released according to the roadmap at the end of this month. The top-to-bottom website redesign and restructuring, positions our brand tailored towards our core target segments and enables a far greater assimilation of the Kinesis Monetary System.
Although tremendous effort has gone into the new aesthetic and feel, extensive research and development into the UX (user experience) flow has also been incorporated into all design considerations in order to provide a seamless and engaging user experience.
All major development components of this project have now been successfully completed and primed for implementation, with a notable emphasis on the significant achievement of PCI-DSS level 2 compliance now awarded to Kinesis.
However, due to a delayed regulatory process largely resulting from the COVID-19 pandemic and related government shutdowns and restrictions, this card program will not initially be operated from Kinesis in Liechtenstein, with the new EEA entity established to launch this program in partnership with Contis.
Unfortunately, despite prior guidance being provided to our team which fell comfortably within this quarter, jurisdiction-specific delays have occurred. This has resulted in our team having to maneuver quickly to establish another entity with associated banking in a new jurisdiction. Thanks to the hard work and resolve of our team to find an effective resolution, this new European entity has already been approved by Contis as an interim solution.
We have been able to minimize the delay and we are now aiming for the program launch in mid-July, however, this exact date will still be subject to several third-party processes. The timing separation between this significant release and that of the yield engine will also accommodate a more manageable launch to our live environment.
We have recently released the ability to export your transaction statements in a CSV (comma-separated values) format, allowing Kinesis users to easily download their trade data, through the Accounts tab or from the Kinesis Exchange interface itself.
As we understand that keeping accurate tax records is an important part of successful investing, we have included integration into third-party services on our roadmap which will streamline and simplify your record keeping.
We have integrated and continue to integrate with a number of partners across various industries including crypto, foreign exchange, banking and payments and financial services, demonstrating how Kinesis technology can be applied in the real world and at a national level. These partnerships will be publicly launched when both parties deem most appropriate.
Our Whitelabel application development is in a very good state with our design systems in place set to deliver a Whitelabel model to partners over the course of 2021-2022. Whitelabel application development is not a public-facing release, rather a partner-facing release. Kinesis aims to deliver gold savings, trading, and banking services to a wide array of partners; several contracts are already in place for these services in various regions.
We would also like to highlight that due to the inherent third-party nature of commercial partnerships, launches are handled in collaboration, meaning that even when projects are fully completed internally, they cannot necessarily be released immediately. These partner releases will be announced when it’s deemed viable in due course.
We have been dedicating significant time and resources in restructuring and building out our team to handle significant future scaling in the Kinesis operation. This has included heavy recruitment across our Customer Support, Account Executive, Marketing and Technology functions. The Kinesis team has increased in size significantly this year in line with the exponential growth we have been experiencing, with noteworthy additions across most departments. Further details will be forthcoming in our CEO’s Quarterly Report.
We have a long list of previously undisclosed projects and programs, which will be publicly released in the coming months. These launches are specifically designed to promote Kinesis in the company’s next phase of commercialization, which will result in the cascading effect of organic growth.
We would like to underline that all other roadmap releases are on track and we expect no further delays in any of our other key development milestones. The Kinesis team is looking forward to delivering the historic and highly anticipated yield engine launch and Minter’s yield at the end of this month, in line with our roadmap.
We would also like to reiterate that the Kinesis yield engine was always communicated and planned as a phased release with Minter’s yield being delivered first, followed by all subsequent yields in the proceeding months, as was announced in the quarterly update released on 9th April 2021.
Rest assured, the global Kinesis team is working extremely hard across all departments at this exciting stage of Kinesis’ growth, and we will continue to keep you informed in line with our established quarterly communication strategy.
Kind regards,
The Kinesis Team
Kinesis - The Revolutionary Gold and Silver Monetary System on the Blockchain
