Important update to the Kinesis Minting Programme

Kinesis has introduced a daily limit of $1,000,000 minted per user per day, for the Kinesis Minting Programme (KMP), effective immediately.

The 0.02% gold (KAU) reward and minting cost reimbursement will only apply to the first $1,000,000 a user mints each day. Within these conditions, Kinesis will continue to reward users with gold on each mint cycle, with all minting costs covered.

We’re committed to ensuring the KMP reflects the principles of the Kinesis Monetary System and continues to benefit all participants.

 

[Craigly]

Also

We need to ask where is Kinesis getting the money from to do this. Without real growth what happens when they run out of operational money??

 

[Dante Roman]

Also

We need to ask where is Kinesis getting the money from to do this. Without real growth what happens when they run out of operational money??

Probably from the 200-300m they have raised since ICO. 200m was initially, so I assume that's earned some $$ along the way

 

[Derek]

My understanding is this is all being funded from operations. I can continue as long as Kinesis things it makes sense to continue.

 

[Craigly]

If you do the math. They cant be making much from operations with low organic volumes. I think we need some financial statements so we can see how long they can keep this going without organic growth..

 

[Willbe]

Youre talking about charging people $260 because you don't want to spend $5 which feels like bringing down others to pull yourself up.

I don't see $5 as a disincentive to small minters. It's negligible

If we agree that $5 to transfer around $9700 to the mint is neglible (approx. 0.05%) then I would suggest to use this 0.05% as the transfer fee for all.
This way you have levelled the playing field for people with small and big cash and everybody has the same cost and reward.

 

[D Man]

+ Velocity and KVT yields...

I just clued in to the fact that mint cycling in my wife's Kinesis account will additionally generate a referrer's yield for my own kinesis account, which I used to refer my wife.
I believe my math says ~$500, for every $1M mint cycled, will come my way due to referrer's yield.
Could someone confirm the estimate?

 

[Rhyno]

As long as your wife's account is eligible for KMP, you would get 7.5% of all the transaction fees she generates, for any activity in her account. The $5 transfer fee does not apply.

 

[Uchiki]

I believe my math says ~$500, for every $1M mint cycled, will come my way due to referrer's yield.
Could someone confirm the estimate?

It's about right.

Example calc:

• Mint cycle 10000 KAU (close to $1m)
• Fees generated 10000 * 0.67% = 67 KAU
• Referrer receives 7.5% of referral's generated fees = 5.025 KAU * $97.5 ~ $490