Update from our CEO
As you may be aware, we are fast approaching our public sale date for the Kinesis Velocity Token (KVT) Initial Token Offering (ITO), scheduled for 1 July 2018. There are a few key updates that we would like to provide to our community that are vital to both the operational success and expansion of Kinesis into a truly global monetary system.
We understand that this announcement is quite detailed, however we feel an obligation to provide our community continuing updates on our progress and exciting developments.
Establishing global partnerships
The first item is the expansion of our global team, with the addition of our London and Barcelona offices that are now building into solid teams, driving development, marketing, sales and partnerships globally. We are currently in the works of building partnerships across the globe with a focus on Asia, Middle East and Europe.
As you know, the success of the Kinesis Monetary System will be based on uptake, volume and velocity, all of which we will need on a truly global scale. This stands to benefit our current partners and KVT holders vastly, as more volume and velocity will mean greater returns based on higher rates of participation, due to the nature of our revolutionary yield system.
In developing the vast international partnerships that are currently in play, it’s important for us to understand the needs of our entire customer base to create successful uptake and networks across these regions.
As the interviews keep rolling out and new content is being created around Kinesis, attention has been greater than ever before and consequently, we are committed to exploring these new avenues for the overall well-being of our ever-growing community.
The Kinesis Monetary System will thrive with renewed engagement from an international economy.
The Birth of the Kinesis Foundation
Kinesis is pleased to announce the establishment of the Kinesis Foundation, an exempted foundation company incorporated with limited liability in the Cayman Islands (the “Foundation”) that will receive the funds from the Kinesis Velocity Token (KVT) token sale and hold those proceeds for the benefit of the Kinesis community, with its primary purpose being the development of the Kinesis Platform.
Transparency in our operations has always been of the upmost importance to us so we have continually explored further avenues to provide KVT purchasers with appropriate protections surrounding the token sale. Setting up the Foundation ensures the funds generated from our token sale are channelled directly into development of the Kinesis ecosystem.
In delivering this transparency measure we’ve explored various jurisdictions to incorporate the Foundation, settling on the Cayman Islands due to its reputation as a leader for international finance and its commitment to international regulatory standards through a widely admired regulatory regime.
Over the last 12 months, we’ve seen a large array of Initial Coin Offerings (ICOs) shifting operations to the Cayman Islands including EOS — Block.One (the largest ICO in terms of funds raised to date), Invictus Capital and Crypto20, amongst many others. At present, there are approximately 2–3 ICOs launching within the Cayman Islands every week, showcasing it as a major hub for financial services and blockchain innovation.
With the Foundation set up in the Cayman Islands, we have also incorporated Kinesis Cayman, a separate exempted company in the Cayman Islands that is responsible for continuing to develop the suite of systems and services within the Kinesis ecosystem and that will be responsible for running Kinesis’ day to day operations.
We will shortly be deploying updates to our website and associated materials to reflect Kinesis’ change in domicile, with all existing and future token sales now being transitioned to the Cayman Islands.
Please be assured that in implementing our new corporate structure, there will be minimal disruption and no action is required by pre-sale KVT applicants. Pre-Sale applicants will continue to have their purchase governed by the terms of the SAFT where we have made minor updates that relate to the new structure.
New Timeframes
Whilst we’re extremely excited that our new corporate structure will provide greater levels of transparency and accountability to KVT purchasers, this development, coupled with the global expansion will result in amended timeframes surrounding the KVT sale as follows:
KVT updated pre-sale and public sale timeframes
- Pre-Sale Phase 5 (2.5% discount) will be extended until midnight 9 September 2018 GMT; and
- The KVT Public Sale will begin on 10 September 2018 and close on 11 November 2018 at midnight GMT.
Corresponding changes have been made to the launch of the Kinesis currencies:
- 12 November 2018: ICO Pre-Sale Begins — higher yield phase for the Kinesis currencies;
- 28 February 2019: ICO Pre-Sale Ends at midnight GMT; and
- 1 March 2019: ICO Public Sale Begins — standard yield phase for the Kinesis currencies.
Despite the changes to timeframes on the ITO we continue to work tirelessly in bringing new and exciting Kinesis offerings to life to complete our revolutionary new monetary system. We see the change in jurisdiction and the global expansion as being a very positive development and we are progressing to new heights with strong interest in the KVT ITO.
Thank you to all of you who have supported us this far, without you we would not be where we are today; our aim is deliver something that will truly revolutionize the monetary system for all.
Sincerely,
Thomas Coughlin
CEO
Any questions related to this post please reach out to sales@kinesis.money to speak directly with one of our team.
