Related to the word “kinship” and conveying a feeling of being connected to community, the Kin cryptocurrency is designed specifically to bring people together in a new shared economy and will serve as the foundation for a decentralized ecosystem of digital services.
Envisioned as a general purpose cryptocurrency for use in everyday digital services, Kin will be used for all transactions within the Kin Ecosystem. Implemented on the public Ethereum blockchain as an ERC20 token, Kin will serve as the basis of interoperability with other digital services in the Kin Ecosystem.
Kin will power a digital economy inside of the Kik app. With millions of users, Kik will drive mainstream consumer adoption of Kin, establishing fundamental value for the cryptocurrency. By natively integrating the Kin wallet into the app, it will instantly become one of the most adopted and used cryptocurrency wallets in the world.
Through the Kin Rewards Engine, Kin will be introduced into circulation as a daily reward, to be distributed among stakeholders by an algorithm that reflects each community’s contribution to the overall ecosystem. This economic structure will create a natural incentive for owners of other digital services to adopt Kin and become partners in the Kin Ecosystem.
The Kin Ecosystem is a community of partners—digital services and applications—that adopt Kin as their currency. The foundation acts as an independent, nonprofit and democratic governance body for the members of this ecosystem.
The principal functions of the foundation include:
Open governance of its resources, together with other ecosystem partners
The support and advancement of technology related to Kin's implementation
All matters related to ecosystem membership, including the Kin Rewards Engine
In the long term, the foundation will fund research and development efforts to support an autonomous reward mechanism that is secure against economic vulnerabilities and gaming, with all transactions accounted in a fully decentralized way.
March 21, 2018 - The Kin Ecosystem Foundation, an independent, nonprofit governance body for the cryptocurrency Kin, today announced that it will use Stellar to improve Kin's functionality and accessibility for digital services. Kin transactions will now take place side-by-side on Stellar and Ethereum, unlocking faster transactions for digital services, while continuing to provide liquidity to Kin holders.Read More.
Sep. 26, 2017 - Kik Interactive, the creator of the popular chat platform Kik, has announced the Kin token distribution event (TDE) has successfully ended raising nearly US$100 million. More than 10,000 people from 117 countries participated in the token sale, immediately making Kin one of the most widely held cryptocurrencies in the world.Read More.
Sep. 12, 2017- Kik Interactive, the creator of the popular chat platform Kik, today announced the Kin token distribution event (TDE) will commence on Sept. 12, 9:00 a.m. ET. To date, 17,075 individuals from 139 countries have registered to participate in the token sale, in which Kik will look to raise a total of US$125 million.Read More.
Aug. 29, 2017 - Kik Interactive, the creator of the popular chat platform Kik, today announced Kin’s upcoming token distribution event (TDE) will commence on Tuesday, Sept. 12, 2017 at 9:00 a.m. ET. Kik also announced it has successfully closed a presale round of US$50 million to select accredited investors, including Blockchain Capital, Pantera Capital, and Polychain Capital. Kik will look to raise a total of US$125 million through its token sale.Read More.
May 25, 2017 - We’ve reached a worrying point in the evolution of the internet: more and more of our everyday digital activities – from talking to friends to ordering food to sharing photos – are controlled by fewer and fewer companies. The biggest companies use their scale to amass advertising dollars and give everything else away for free, making it nearly impossible for smaller competitors to find sustainable business models. Even if a potential competitor does break through, these companies turn to a copy-and-crush strategy, using their greater resources and user bases to stop anyone who poses a threat. At Kik, we’ve faced this problem first hand.Read More.
May 25, 2017 - Kik Interactive, the creator of popular chat platform Kik, today announced it is launching Kin, a cryptocurrency that will serve as a foundation for a decentralized ecosystem of digital services. Kin will be created as an ERC20 token on the Ethereum blockchain and will be integrated into Kik as the primary transaction currency.Read More.