If I minted during the IMO/PMO, how is the 3x multiplier calculated?

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The Initial Minting and Public Minting Offers emerged as pre-ICO incentives to encourage early adoption of the minting process.

One of these initiatives was a 3x multiplier bonus, which was applied to all KAU and KAG minting activities during the IMO/PMO period, which lasted between 2nd April 20219 and 1st July 2021

  • During the promotional period, all eligible minting activities (followed by sending or spending) were 3x multiplied, so eg: minting 100 KAU was treated as if it were a minting of 300 KAU.
  • The proportions of the total Minter's Yield allocation remains at 5% of the Minter's Yield Pool, as if no multiplier had been applied.
  • However, all pre-ICO minters are treated as if they minted 3 times their actual minted amount, so eg: they receive a proportional 5% share of the Minter's Yield, based on the 300 KAU minted, even though they technically only minted 100 KAU. 

The 3x multiplier does not apply to any minting activities following this period.

 

Example 1:

Let's say that 10,000,000 KAU were minted during the Offer period and followed by a further 10,000,000 KAU minted after the Offer period.

In total 20,000,000 KAU have actually been minted.

However, the offer period minting activities are counted at 3 x, i.e. 30,000,000 KAU.

Therefore, the total minting activities are calculated as 40,000,000 KAU.

In this example, the early minters get awarded 3/4 of the total Minter's Yield.

 

Example 2:

Let’s say you minted 200 KAG and sold all on the Kinesis platform in February 2021, during the active Public Minting Offer. Kinesis will count this amount as 600 KAG (3 x multiplier). 

You also minted another 200 KAG in March but sold them in July, after the PMO period. It will be treated as 200 KAG, bringing your total eligible for Minter's Yield to 800 KAG.

Over time, as more 1x KAU are minted, the overall share of the pot taken by the early minters will fall, even though those minters continue to receive an allocation based on 3x the KAU they minted during the offer period.

 

Example 3:

Let’s assume that it is 31.03.2023 and the total amount of qualifying (minted and activated) Minter’s Yield entitlement across the Kinesis platform is 1,000,000 KAU. This is the amount generated by all minters, since the Kinesis platform launch on the 2nd of April 2019.

You minted 1000 KAU (eligible for 3x bonus) on 01.01.2021 and another 1000 KAU on 21.12.2022 of which you sold 700 KAU on 01.03.2021 (eligible for 3x bonus) and the outstanding 1500 on 31.01.2023.

This will bring your maximum eligible amount to 3 * 1000 + 1000 = 4000 KAU. The actual eligible amount would be based on the amount you traded/withdrew which in this case is 3 * 700 + 1300 = 3400 KAU (out of a maximum of 4000 KAU).

This means that your share of this month's Minter's Yield allocation would be 3,400/1,000,000 = 0.34%

 

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