Kin, from Kik
Kin, from Kik
A cryptocurrency for an open future
3 years ago
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#1 Product Hunter! 🏆 ko-fi.com/chris
So much activity in this space lately... Very curious if Kik can bring cryptocurrencies to the masses. I find it still very strange and foreign -- even as I begin to dabble more in the space.
Expert procrastinator and full-stack dev
ERC20 tokens seem to be a gold mine right now as ICO's have proven to be a very successful method of raising funding. Your whitepaper states that there will be a total supply of 10 trillion Kin tokens. 10% will be up for auction, 30% will be retained by Kik, and 60% will be "under the purview of the Kin Foundation." The white paper also states that "Kik’s 30 percent pre-allocation will be unlocked and distributed to Kik at 10 percent per quarter, for 10 quarters" and "The Kin Rewards Engine is scheduled to release 60 percent of the supply over time at a rate of 20 percent of the remainder per annum." Correct me if my math is wrong, but this means that over the course of one year Kik's liquid stake will increase by 12% of the total market and the community's liquid stake will also increase by ≈ 12% of the total market? What does Kik intend to do with their coins once they are unfrozen? While I believe Kik deserves to profit off of their creation, my fear is that if they immediately sell their coins as they unfreeze the community will end up holding a majority of the supply in under two years. A ecosystem of this scale takes time to grow, and is bound to experience hiccups along the way. Giving up the majority of your invested interest so quickly makes me fearful that you could simply exit should the community hit any turbulence early on. Tokens are a two way relationship, and it's important to show the community that if they bleed, you bleed with them. How does Kin plan to handle this? Wishing you well!
No-coder 👉 Makerpad.co
It's all about that Crypto, Crypto, Crypto, Crypto
Here's Fred Wilson's writeup about Kin:
founded Pikazo, now a new thing
The title says it's an open future… but doesn't this whole system have to live within Kik? If this fully succeeds, doesn't it make Kik the WeChat of the west?