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Kin

CC

Crypto Coins

Transcript

ICO REVIEW

KIN

decentralized ecosystem of digital services

What is it?

What is it?

  • New cryptocurrency Kin that will be used as cryptocurrency on the new Kin Ecosystem

  • Kin will be integrated into the Kik application (300 million registered user) and Kik will be the first application to join the Kin ecosystem

  • The ecosystem will introduce The Kin Rewards Engine that will use rewards to bring other digital services and applications in the Kin ecosystem

  • Kin Ecosystem will be managed by Kin Foundation, a nonprofit organization that will aim to oversee the fair and productive growth of the ecosystem

  • Overall Kik will work toward creating the first open and sustainable alternative ecosystem of digital services by using Kin

How is it used?

How is it used?

  • Kin is a pure cryptocurrency of fixed supply. It is fractionally divisible and long-term noninflationary. It's an ERC20 token based on ETH

  • Initially only a small portion of the Kin supply will become liquid in the as most of the Kin supply is reserved for the Kin Rewards Engine.

  • Kik will work to integrate Kin into Kik’s chat ecosystem for the benefit of users, platform developers, and partners

  • Kin will be earnable on the platform by performing various tasks and will be stored in Kin wallet integrated in every Kik user account

Use cases

Some use cases that will use Kin

  • Users can create VIP groups is that require a paid entrance fee

  • Users will be able to earn Kin by sharing audio, video, and pictures that are hidden until other users pay to unlock them.

  • Kin will allow users to promote messages and ping all group members instantly for a payment

  • Tipping, bot monetization (for example ordering pizza paid in Kin), brands and companies can pay users to perform actions (for example opening link)

Tokens

KIN tokens (ERC 20 token)

  • Esentially a currency that will be used on the Kin Ecosystem
  • Initially 100% of tokens will go to sale participants, with time tokens will be created for the foundation, for Kik users and to to expand Kik ecosystem
  • In the initial sale 1 trillion released with 10 trillion total supply
  • Tokens will be released gradually
  • Check whitepaper for more details

Team

Team

  • Kik Interactive
  • Based in Canada
  • Team is very experienced with plenty of members and recruiting for plenty of positions
  • Twitter: @kin_foundation
  • Twitter 2: @Kik
  • Website: https://www.kik.com/
  • Website 2: https://kin.kik.com/

Partnerships and media

Partnerships and media

  • Plenty of media attention including Reuters, Forbes, FORTUNE and others

  • Supported by blockchain startups: Pantera, Blockchain Capital, Polychain Capital

  • Supported by entire Kik team (duh)

Token details

ICO

  • KIN tokens (ERC 20 token)
  • Maximum supply: 10 trillion tokens
  • 1 trillion (10%) - ICO

ICO details

ICO terms

  • Registration Ends on September 9, 2017

  • Actual ICO starts on September 12, 2017

  • Purchase methods accepted: Ether

  • Looking to raise US$125 million

  • 1 trillion tokens distributed

  • All tokens distributed between participants

  • No bonuses for early participants (I think?)

Roadmap

  • There is no detailed roadmap available

  • There are few general points in the whitepaper but no timeframe

  • Kik is aiming to create the economy based on Kin, establish the Kin Foundation and create the Kin Rewards Engine

Roadmap

Similar projects

  • Kin is the first 'mainstream' adoption of the blockchain technology.

  • There is already an underlying technology and huge userbase so there isn't really anything we can compare it to.

Similar projects

Advantages

  • Huge potential for mass adoption
  • Known and experienced team behind it (Kik Interactive)
  • Will be added to the already existing product with huge userbase (Kik)
  • Good plan for the application
  • All tokens distributed between contributors

Conclusion

Disdvantages

  • Only 10% distributed in the ICO with other tokens released gradually
  • Asking for $125 million
  • The documentation isn't that great

Verdict

VERDICT

  • 9/10

  • Potentially the first blockchain based product that might be applied to mainsteam application. This alone creates amazing potential
  • Kik has 300 million registered users and around 15 million monthly users - meaning largest community adoption of crypto in the world
  • The similar system was already tested by Kik via Kik points and was working fine
  • The actual ICO is very greedy however, they are asking for plenty of money for only 10% which might de-value the Kin cryptocurrency
  • However even with the greedy ICO the total market cap would be 1.25 billion so Kin wouldn't even be in the top 10 which leads me to believe there is potential income to be gained from the tokens