At the moment the product is ready to integration with the Kik messenger. At the same time the company doesn't disclose technical details of the platform and doesn't provide the road map of her development.
12.09.2017 - 26.09.2017
Kin will be realized on a public blockchain of Ethereum as ERC20 token.
Role of token:
Kik introduces Kin, an open source cryptographic token that is conceived as a public-key crypto currency for everyday digital services such as chat, social networks and payments. Kin will become the unit for calculating all economic operations in the Kin ecosystem and will serve as a basis for interaction with other digital services.
Within ICO round 512 billion tokens (on September 12) will be sold for $75 million.
Sum of tokens:
10 000 000 000 000 for the amount of 1 460 000 000$
Accepted currencies ICO:
Token distribution date
It is predicted that messengers will remain the fastest growing segment of applications - from 2.5 billion users in 2015 to 3.6 billion in 2018 (CAGR 2015-2018 -15%). Messengers showed the most impressive growth in the number of users in the period from 2011 to 2015, bypassing social networks. The developer's CEO Botego predicts that the size of the chatbots market will be $ 2 billion in 2017. The market acceptance of the product was evaluated in the Kik Points experiment, which can be called successful , taking into account 300 thousand daily transactions on average during the experiment during the period from 2014 to 2016. At the peak of activity, the volume of transactions reached 2.6 million per day. For 2.5 years, from 2014 to 2016, Kik users created 253 million offers and spent earned points for 74 million purchases.
Kik will establish the fundamental value of new currency, embedding Kin in the chat the application. Really, Kin will become the main currency of transactions of Kik, and Kik will become the first service which will join Kin ecosystem. In the future users will be able to earn Kin, providing value to other participants of digital community Kik by means of monitoring and creation of content and also trade. Users of Kik will be able to pay off Kin, getting products, services and other useful offers from sellers, developers, leaders of opinion and other participants. At the moment the product is ready to integration with the Kik messenger. At the same time the company doesn't disclose technical details of the platform (Kik promised to publish the separate technical documentation of Kin in which will the technical architecture of the operated decision for Kin tokens is described, but I haven't made it).
Due to the fact that KiK messenger has been working since 2009, the project team is well known in the market. Ted Livingston is the founder and president of Kik, as well as the leader of the Kin concept. Kik was founded in 2009, its headquarters is in Waterloo, Ontario. In the process of its existence, Kik attracted $ 120.5 million of venture capital from investors such as Tencent and Union Square Ventures. Ted continues to deal with Velocity Fund, a startup accelerator, which he conceived and founded at the University of Waterloo. In 2017, Ted was named one of the most creative people in business, according to the Fast Company rating.
The main function necessary to use the cryptocurrency in the digital community is the wallet. The first step will be the integration of the wallet into the account of each user Kik. The user interface will allow you to make basic interactions associated with the functions of the wallet. Integrating the wallet into the accounts of millions of active users Kik provides the potential of the Kin purse to become the most popular and used cryptocurrency purse in the world Kik Points experiment demonstrated that there is a need for an economy built around the chat. Over time, Kik will begin work on integrating Kin into Kik's chat ecosystem, for the benefit of users, platform developers and partners. To achieve this goal, Kik will apply the same iterative process of research, experimentation and fine-tuning that has already brought Kik success. The Kik team has repeatedly confirmed its reliable reputation by developing products for the mass market, and Kik looks forward to integrating the cryptocurrency into the product realization process. The following sections describe some of the proposed use cases related to the storage, earnings and waste of cryptocurrency that Kik plans to study and test.
The KIK company raised (on August 18, 2015) 50 million dollars of financing of a series D in the transaction headed by Tencent Holdings (assessment of the company has made 950 million dollars of Pre-money). Today the company has attracted totally 120 million dollars of the venture capital. At the same time the amount of funds attracted by means of ICO ($120 million) is comparable to the amount of financing attracted for all story of development of the project and with high degree of probability is superfluous for realization of the stated functionality. For financing of the roadmap of Kin, Kik will hold an event for distribution of tokens on which one trillion units from 10 trillion units of the general money supply of Kin will be offered for sale. Thus, the cost of all pool of tokens at the placement price (during ICO) will be $1,46 billion and will exceed the current valuation of the company.