KIN

What is KIN

Through a series of economic and technological transitions, and based on a new cryptocurrency called Kin, Kik will work toward creating the first open and sustainable alternative ecosystem of digital services for our daily lives. Economic incentives at the core of this ecosystem will ensure that all participants – users, founders, and digital service partners – will ultimately benefit from this work.

Kik will encourage a network effect for Kin by becoming its first large adopter and sponsor. It will also establish the Kin Foundation as the custodian of the Kin Ecosystem, driving the stability and growth of Kin services.

Over time, the Kin Foundation will oversee the transition of the Kin Ecosystem to a fully decentralized model that can operate with no assistance from Kik or any other entity. The decentralized Kin Ecosystem will emerge as a sustainable autonomous economy that can empower the existing suite of chat, social, and other digital services, while building a platform for the best user experiences.

The Kin Ecosystem will seek to establish a global network of digital services that constitutes a new cooperative operating model, focused on the long term. In this model, developers and service providers will enjoy the right and opportunity to innovate and compete for compensation, while users will benefit from a diverse digital experience, freedom of choice, and access to a broad range of commercial services.

Over time, Kik will work to integrate Kin into Kik’s chat ecosystem for the benefit of users, platform developers, and partners. Kik will do so by employing the same iterative process of research, experimentation, and fine-tuning that has made Kik successful. Kik’s team has a proven track record in developing products for the mass market, and Kik looks forward to introducing cryptocurrency into the product process. The sections below describe some prospective use cases related to storing, earning, and spending cryptocurrency that Kik will explore and validate.