There are a small number of requirements that need to be adhered to for you to receive a yield reward.
In order to receive any type of yield:
- Your account has to be fully ID verified through the Know Your Customer (KYC) process.
- Your account (or your linked addresses) cannot be suspended or blacklisted
- Your account has to meet the specific conditions of each yield
The specific conditions you need to meet to receive a Minter’s Yield (based on minted KAU or KAG) are:
3. All your minted coins need to be either 3.1. Spent (with a Kinesis card or traded on the Kinesis Exchange) or 3.2. Sent to another verified account/ verified & online-accessible Wallet, which does not belong to you (for example you could send minted currencies to your friend or an employee). This makes your KAU and KAG trackable, by putting them on a blockchain ledger, so we can calculate the amount of yield you are eligible for. Kinesis enables two options for minting users, that are most supportive of this process:
3.1. MINT & SELL or SPEND:
You can choose to Mint your gold or silver and then transfer them straight to your Kinesis account, after which you would then have to sell them on the Kinesis Exchange. We would like to encourage you to trade it using Limit Sell orders, although Kinesis accepts any Sell order.
Alternatively, you can spend your minted Kinesis gold and silver with a physical or virtual Kinesis card.
If you choose to Mint & Sell or Spend, you cannot:
- Send your Minted KAU or KAG from your Minter Wallet to your non-KYC-verified Kinesis account or non-KYC-verified Wallet. That would not allow us to identify you as a person eligible for the Minter’s Yield.
- Send your Minted KAU or KAG from your Minter Wallet to your non-KYC-verified Kinesis account and then hold it, instead of adding your KAU and KAU into circulation across the Kinesis Monetary System.
If you choose to Mint & Sell or Spend, you can:
- Send your Minted KAU or KAG from your Minter Wallet to your KYC-verified Kinesis account and then Sell/Trade it, using either Limit Sell orders (as the preferred method) or any other Sell order available on the Kinesis Exchange.
- Send your Minted KAU or KAG from your Minter Wallet to your KYC-verified Kinesis account and then spend it using your Kinesis card.
3.2. MINT & SEND:
Alternatively, you can choose to Mint your gold or silver and then transfer it straight to another Kinesis account or Wallet, which does not belong to you. This separate account or Wallet must belong to a person that is not related to you. Importantly, their Wallet must be connected (linked) to a KYC-verified Kinesis account.
Please keep in mind that you have to send them directly from your Mint Wallet to another person’s wallet, without transferring them to the Kinesis account in-between.
In the case of Minting & Sending, you cannot:
- Send your minted KAU or KAG from your Minter Wallet to any other Wallet that belongs to you
- Send your minted KAU or KAG to any anonymous (offline) Stand-alone Wallet or any non-verified Wallet (that is unlinked or linked to a non-KYC-verified Kinesis account)
- Send your minted KAU or KAU to any non-KYC-verified Kinesis account
- Send your minted KAU or KAG to your Kinesis account and then send it to your friend’s account (with KMS as an additional step)
In the case of Minting & Sending, you can:
- Send your minted KAU and KAG to your friend’s KYC-verified Kinesis account
- Send your minted KAU and KAG to your friend’s KYC-verified Kinesis Minting Wallet
- Send your minted KAU and KAG to your friend’s KYC-verified online-accessible Wallet i.e. CoolWallet
Please note that if you mint, then redeem from your Kinesis account, then as you haven't sold, sent or spent, you will not be eligible for Minter's Yield on what you've redeemed.
- If you participated in any of Kinesis Public Minting Offers (such as the KVT Minting Offer).