Kinesis - ICO Review

Kinesis Introduces Crypto to Gold Standard

The Kinesis Monetary System (Kinesis) is an ambitious fintech project that has set itself a goal of hastening the mass adoption of cryptocurrencies by introducing the innovative monetary system based on the asset-backed tokens and the multifaceted yield-bearing scheme. The system is said to encompass all financial markets, stimulate the velocity of capital movement, and resolve the problems that hamper the overarching adoption of cryptocurrencies.

The key elements of the Kinesis Monetary System

The Kinesis Blockchain Network (KBN) lies at the heart of this emerging monetary system. For the technical standpoint, it is a fork of the Stellar blockchain, which is known for possessing such properties as ultra-fast remittances that take no longer than 5 seconds, versatility, and compatibility with any of the current payment systems. The Kinesis blockchain serves as the foundation for another element called the Currency Suite, a functional set that grants the possibility for the amplification of system capabilities.

Kinesis Exchange was developed in cooperation with the Allocated Bullion Exchange (ABX), an institutionalized online platform for trading precious metals and a partner of Deutsche Borse Group.

Kinesis Mint is a functional feature that allows for minting (mining) the Kinesis tokens that are subsequently backed by the precious metals bullions, which are in possession of ABX. 

Kinesis Financial Network (KFN) is represented by the bespoke mobile banking system that includes a digital wallet and a physical debit card compatible with the MasterCard payment service.    

KVT token and currencies

Kinesis introduces as many as three types of currencies each with its unique characteristics, however, all of them are backed by either gold or silver.

The Kinesis Gold Currency (KAU) is a representative of a gold contract where each token is equaled to a bar of 995 fineness gold that weighs approximately 1 gram.

The Kinesis Silver Currency (KAG) is backed by 1 oz of silver with a fineness of no less than 999.

The Kinesis Gold Wholesale Currency (KWG) is the “heaviest” currency of all, being backed by a kilogram of gold of 9999 fineness.

Every bullion of a precious metal contains a serial number as well as a stamp of an official refiner.

The Kinesis Velocity Token (KVT) is the ERC-20 compliant utility token that is currently on sale through the Initial Token offering (ITO). The holders of KVT will receive a share of profit from transaction fees in the range of 5 to 20% from the overall income.   

The yield system

In its strive to create a unique monetary system, Kinesis has elaborated an interesting yield structure based on the token velocity. The project offers its investors four types of yields:

  • The Minter yield provides for receiving the permanent share of income from the transaction fees on the minted coins.
  • The Holder yield is pretty straightforward as it offers passive income for keeping the tokens in the wallets, similar to the interest on deposit accounts. 
  • The Affiliate yield is granted for those who refer other people to the Kinesis Monetary System.
  • The Depositors yield is also permanent and comes as a percentage calculated according to the amount of the initial deposit.

ITO details

Kinesis has an ongoing token sale that will conclude on June 30. As of now, the project has already reached the softcap of 15.000 KVT which translates to $15 million, but is unlikely to hit the hardcap of $2.1 billion. The price of 1 KVT is $1000 with that, understandably, also being the minimum investment threshold. Kinesis accepts USD, BTC, ETH, and USDT. There are no restrictions applied with regard to investors’ citizenship.

Author: Alex Paulson for

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StartSeptember 10, 2018
EndJune 30, 2019

I also signed up with Kinesis but want to understand the IRS tax treatment for any of the five Yields after becoming Minter. Will Kinesis be issuing 1099C forms for any Yields from holding Kinesis money? I am awaiting confirmation from Kinesis Support that they will issue 1099-K forms by Jan 31 annually. Does anyone know the answer? Based on my reading of IRS information regarding virtual currency reporting requirements. Per IRS guidance, annually Kinesis Money must issue “timely or correctly report virtual currency transactions” by issuing 1099-K forms. Boxes 1, 3, and 5a-1 on the Form 1099-K, transactions where the TPSO settles payments made with virtual currency are aggregated with transactions where the TPSO settles payments made with real currency to determine the total amounts to be reported in those boxes. Since Kinesis Money is required to issue form 1099-K by January 31 for the transactions fulfilled from the five types of Yield enabled by the Kinesis Monetary system with the rates stated in the Kinesis Whitepaper.

Dave   November 9, 2020  

I signed up with Kinesis a bout a month ago, tried to trade Bitcoin for silver, it took all day to fill 0.1 Bitcoin. There is simply no volume and if there is no volume it's almost impossible to fill your order, unless it is miniscule. I decided to transfer my remaining Bitcoin to Vaultoro, copied and pasted the address, the Bitcoin disappeared from Kinesis, but never arrived at Vaultoro. Contacted Kinesis support, not for the first time, after more than 4 hrs, no word and still waiting.

John   July 31, 2020  

The general distrust in projects like Kinesis is understandable. It is inherent to human mentality to distrust something intangible, especially when it comes to something as precious as gold. This presents a paradox because people are willing to place trust in the ephemeral digital tokens, but they get suspicious when Kinesis tells them that these tokens are backed by gold and silver. Obviously, I am not that kind of a person, so I tend to believe in a good project when I see one. So, let’s load up on KVT.

Megan   June 29, 2019  

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