A general purpose cryptocurrency for use in everyday digital services such as chat, social media, and payments
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Kik is introducing an open source cryptographic token, named Kin, which is envisioned as a generalpurpose cryptocurrency for use in everyday digital services such as chat, social media, and payments. Kin will be the unit of account for all economic transactions within the Kin Ecosystem, and it will serve as the basis of interoperability with other digital services. The Ethereum blockchain is currently the industry standard for issuing custom digital assets and smart contracts. The ERC20 token interface allows for the deployment of a standard token that is compatible with the existing infrastructure of the Ethereum ecosystem, such as development tools, wallets, and exchanges. Ethereum’s ability to deploy Turing-complete trustless smart contracts enables complex issuance rules for cryptocurrencies, digital financial contracts, and automated incentive structu
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.
DetailsPublic sales: Sep 12, 2017 - Sep 26, 2017
Total tokens for sale: 10,000,000,000,000 KIN
Raised: 98,000,000 USD
LegalBlockchain Platform: Ethereum
Office address: 22 Adelaide Street West, Suite 3400, Toronto, ON, Canada M5H 4E3
Token infoTicker: KIN
Token standard: ERC20
Token price in USD: 1 KIN= 0.0002 USD
1 trillion kin - available during crowdsale 3 trillion kin - preallocated to Kik 6trillion kin - under the purview of the Kin Foundation, locked under the Kin Rewards Engine schema, and used strategically to grow the Kin Ecosystem and fund the operations of the foundation.