Overview
The Kinesis Velocity Token (KVT) has been successfully migrated from the Ethereum blockchain to the Stellar blockchain. The Stellar blockchain provides enhanced speed, lower fees, improved transferability, and greater divisibility, positioning KVT as a first-tier digital asset.
Core Functionality of Kinesis KVT
KVT is a digital token within the Kinesis Monetary System, rewarding holders with a 20% proportional share of every global transaction fee generated by the platform. This reward is distributed through the KVT Yield mechanism.
Key Benefits of the Migration
The switch to Stellar results in faster transaction processing, significantly reduced fees, and near-instant settlement times, which make KVT a more efficient asset for users and investors.
Divisibility of KVTs
The Stellar migration allows for the purchase of KVTs in smaller increments, with the smallest available amount being 0.001 KVT. The total supply of KVT remains fixed at 300,000 tokens, ensuring scarcity and preserving the value of each token within the Kinesis ecosystem. Divisibility lowers the entry barriers for investors, enabling them to buy fractional KVTs, making it more accessible to a broader range of participants.
Ethereum vs. Stellar
The KVT upgrade to Stellar represents a major milestone for the Kinesis Monetary System, aligning the technology behind KVT with other Kinesis assets like Kinesis Gold (KAU), Kinesis Silver (KAG), and Kinesis USD-backed stablecoin (USD1).
Stellar offers the following advantages over Ethereum for KVT holders:
- Lower withdrawal and transaction fees.
- Faster transaction completion.
- Enhanced transaction efficiency for both Kinesis platform transfers and external wallet transactions.
KVT transactions on Stellar incur fees in KVT (for platform transactions) or XLM (for external wallet transactions).
Future Impact of KVT Migration
- The Stellar upgrade marks a critical step in advancing Kinesis’ mission of improving the digital asset ecosystem with greater value, efficiency, accessibility, and equity.
- As blockchain technology evolves, Kinesis continues to integrate cutting-edge advancements into its ecosystem, positioning KVT as a leading, tier-one asset in the digital space.