Kik Messenger, aka Kik, is an instant messaging mobile app with over 300 million users. It’s popular amongst teens, with a reported 40% of US teenagers using the app.
And it’s going crypto. The company intends to replace its Kik Points with a KIN cryptocurrency. But the project is much bigger than just adding crypto. From the whitepaper:
The reliance on advertising for digital media revenue has resulted in advantages for companies whose products reach mass audiences. Such companies can leverage network effects and economies of scale to apply intense pressure to smaller competitors while also stifling competition by providing their services free of charge. As a result, large companies enjoy the compounding interest of incumbency, concentrating wealth and power in the hands of the few, often to the detriment of consumer privacy and user experience and almost always at the expense of new entrants to the sector.
Kik has always been unique in that it has not gone the traditional model of display advertising and selling user information. To that end it’s been experimenting with Kik Points since 2015.
Millions of users participated. And Kik’s average monthly transaction volume is many more times that of bitcoin. Check out the chart below.
With the introduction of the KIN token Kik also plans on developing the Kin ecosystem. The goal is to establish an economy around the new currency. KIN will be an ERC20 token.
The incentive mechanism to facilitate the ecosystem is the Kin Rewards Engine. It will use economic incentives to bring services and applications to the Kin ecosystem.
A majority of the Kin supply will be allocated to the Kins Reward Engine. And periodically it will unlock to distribute KIN to digital service providers.
Initially the Kin Reward Engine will be administered by the Kin Foundation with Kik as its primary member. But eventually it wants to turn into a DAO, kind of like how Dash is now.
The pic below shows the potential rewards that could be pumped into the ecosystem depending on different market valuations.
This is an exciting project. Kik already has a big user base and experience with an in-app currency. A crypto token seems like a natural fit.
So when is the ICO? Good question. I have not found an exact date yet. However, you can register on the website for alerts.
For all the details on Kik and the KIN token check out the white paper](https://kin.kik.com/papers/Kin_Whitepaper_V1_English.pdf).
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I realize this is old but it is still relevant. KIK is getting closer to releasing their integration with KIN. With 15M active users it's hard to ignore. I love steemit but does anyone know how many active users are here?
There's 500k + accounts and an estimated 40-50k active users on Steem.
KIN, I own some, but I might try to sell some during this pump.
Does anyone else think that this could be very threatening to steemit ? Sounds like they want to do what steemit does but be able to put it anywhere such as YouTube or Instagram . What Is everyone’s thoughts on this ?
Kik is a chat app, I don't think it will affect Steemit. Now if FB introduces a token and starts to pay its users... that's another story. But imo they'll take care of themselves and shareholders first.
I’m glad to hear someone else’s thoughts on the matter 😄 thank you so much !
You got it!
KIK Messenger - Kin Token Sale - Registration Now Open!
https://steemit.com/cryptocurrency/@todderic/kik-messenger-kin-token-sale-registration-now-open
Thanks for the heads up... got the email signing up now!
You're welcome!!
Thankyou for sharing @g-dubs. .
You're welcome!
Oh wow, that is pretty exciting news. I don't use Kik myself but know it is pretty big. I definitely see potential in this possibly. I say posibly, because I need to do more research. If it turns out there are millions of KiK users with reward points that are going to be turned into crypto... then I am fearful of a massive dump when they discover they can turn their previously 'useless' points into cold hard cash. That would be like handing out a massive amount of money to their users, which 'we' the cryptocommunity are supposed to pay for..
That's a good point. I'm not sure yet how much will be released to current users or when but something to consider for sure.
I registered over a month ago and have not received even one update on the ICO status. I agree, this could be one of the biggest ICO's to date, but they need to at least provide a timeline, or an update on the promised offering, to appease potential buyers, and relieve some of the anxiety arising from their silence on the matter.
I don't think they know yet. They're trying to figure how to get token and not security status. They can't just avoid the US. Hopefully the CFTC actions have spurred the SEC to get its head out of its ass.
Thats dope g dubs thanks for the info. I love alts that are already doing well in anotehr space like OMG!
Thanks! Give me a follow, I wrote about OMG at $1.48 ;-)
I wonder if this ICO is worth buying into.
I personally think kik is dead and buried in the presence of whatsapp but these kind of tokens tend to do pretty well so...
I'm leaning towards investing but will evaluate again when the time comes. I don't know if its dead or not but adding crypto could be a game changer, like when Apple introduced the iPod.
you received an up vote from danlupi with voting power of 29.33%
Upvoted and RESTEEMED :]
Thanks!
click here!This post received a 4.8% upvote from @randowhale thanks to @g-dubs! For more information,
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://kin.kik.com/Kin%20Whitepaper%20v1.pdf
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Been eagerly awaiting this ICO..the CEO spoke in London a month ago at a huge Cryptoconference. Tickets were around $500 a pop, so I figured they were discussing either world domination or peace on earth :P