Kuailian no longer pays on a weekly basis
At around the end of July, Kuailian discontinued the daily payment system.
The main reason was the disproportionate increase in the commissions applied by the Ethereum network for each of the transactions carried out, which meant a notable erosion in the returns of those people with a low volume of daily incomes.
I explained it in detail in this post.
What was a measure to protect returns was seen by many as a clear indication that Kuailian was a scam and was beginning to struggle to meet its payments.
Meanwhile, Kuailian announced that they were getting to work to implement a system that would allow them to return to daily payments without being affected by the commissions of the Ethereum network.
Today, those months of work have paid off and the payment system based on Sidechain is already a reality.
The old payment system is disrupted
Understandably, Kuailian is not going to maintain two parallel payment systems.
Therefore, all users have to switch to the new payment system to obtain their returns. It is no longer possible to continue to obtain payments through the original system.
Logically, Kuailian is not going to take the funds of those users who do not switch to the new payment system. The funds of these users will accumulate daily, but will be held until the user enables the new payment system.
How the new daily payment system works
The new payment system is based on an app that each user must download from the corresponding stores:
Through this app, the user will receive his daily payments in the Sidechain Wallet. Once received, he can transfer them to the Mainchain Wallet, and from there to his usual Wallet (Exodus, Ledger, …) with the periodicity that each one decides.
However, during a transitory period, the weekly payments will be maintained. When the new payment system is consolidated, it will move to daily.
It is very important to keep in mind that the user must write down the private key of the wallet contained in the app. Kuailian will not know that private key, so they will not be able to help the user in case of loss.
Kuailian app tutorial
To help with the app setup, Kuailian has put together this tutorial. It is very important to follow the instructions step by step:
With this novelty, Kuailian fulfills its commitment to return to daily payments, something highly demanded by the entire community.
If you want to join Kuailian, you can do it through this link.