Silver
Crypto Overview
Overview
Kinesis Silver (KAG) is a digital currency backed 1:1 by physical silver bullion stored in secure vaults. Each KAG token represents 1 troy ounce of silver.
Purpose and Utility
The intended purpose of KAG is to serve as a digital representation of physical silver, enabling users to trade and transact with silver in a more efficient manner while maintaining direct ownership of the underlying physical asset. The system allows for redemption of physical silver against KAG tokens.
Business Model
The business model involves the tokenization of physical silver, with revenue generated through transaction fees and the Kinesis Velocity Returns program. The platform maintains full reserves of physical silver, with regular audits conducted by independent parties.
Real-World Adoption
Kinesis has established partnerships with precious metals dealers and financial institutions. The platform provides a Kinesis debit card that allows users to spend their KAG holdings. Trading volume and user adoption metrics indicate active usage of the platform for its intended purpose.
Development Activity
The platform shows consistent development activity with regular updates to its infrastructure and user interface. The team maintains transparency through regular audits and reports.
Token Distribution
KAG tokens are minted only when backed by physical silver deposits, maintaining a 1:1 ratio. There is no pre-mine or founder allocation, as tokens are created based on actual silver deposits.
Crypto Impact
To assign a comfort level investing in Silver from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Silver.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.