Topic: KIN | Top Secret - Do not open! (Read 484 times)

The Kin Foundation and Solana Foundation have signed a grant agreement to support the largest migration in blockchain history. This grant was designed to incentivize bringing new active users to the Solana blockchain

Read more at the link: https://kin.org/kin-and-solana-foundations-sign-agreement-to-support-the-largest-migration-in-blockchain-history/

Kin Newsletter - July Edition

https://kinfoundation.imfast.io/Kin%20Newsletter%20-%20July%20Edition%202020.pdf

A lot has happened within the Kin Ecosystem the last month!

More details were released about this.

MediaLabs (owner of Kik chat app) will be buying $1,500,000 of KIN. They will be specifically buying $100,000 worth of KIN a month over the next 15 months directly from the exchanges.

https://medium.com/kinblog/medialab-doubles-down-on-kin-with-new-kik-experiences-more-ab89696dafc9

I believe the TDE was around $0.000120 per KIN

The ATH was around $0.0015 per KIN

So it's a 16x to get back to the TDE price and a 204x to get back to the ATH

"Total Supply: 10,000,000,000,000 KIN" This is a very much amount with an average price of $ 0.000007352 / 1 KIN https://www.bithumb.pro/en-us/spot/trade?q=KIN-USDT

what is the price of 1 KIN when ICO

Understandable. That feeling is not a new one and really the main reason in my eyes why the price of KIN has fallen so much since the TDE and suppressed. Other users, investors, apps, and exchanges feel the same way.

On the positive side the case is very close to the end. After two years of all the tedious long steps like discovery, the Motions for Summary Judgement were submitted and are just waiting on a decision from the Judge. This will likely be a month away still, but could technically happen as soon as today. If the judge rules on the MSJ, the case could end at that moment. The alternative is he doesn't make a ruling and sets a court date for a Jury to decide. The only issue with that 2nd situation is with coronavirus I'm not sure how court cases are working. If they're all delayed or what the deal is with that. So that option could delay an ultimate ruling. Regardless this is the home stretch.

To touch on the supply. I think that's a misconception. The amount of coins really doesn't matter for any project with a fixed max supply. All that matters is the percentage of that supply that you own. The main reason that Kik created KIN with a 10T token supply was user experience. KIN is used for very small transactions within it's apps. We're talking pennies or even fractions of a penny. Some apps have larger earns and spends, but many are microtransactions.

KIN was never meant to please the crypto world. The crypto world is still pretty small when you zoom out. KIN was meant to be integrated into apps like KIK and many others that have 100,000,000's of users of all ages, races, and demographics where the large majority might not even know about crypto at all. These people are used to using in game currency already which are usually integers and are also used to using only two decimal places in the real world with currency.

Trying to get a 12 year old boy, a 55 year old man, or a 80 year old woman to understand why they just earned 0.000000016 KIN or needing to spend 0.000000036 KIN on something is not natural and very confusing. This is what would be happening if KIN only created 21,000,000 coins. There's 10,000,000's with the potential of 1B+ users exposed to KIN already having either earned or spent it at least once in an app. A small supply will just never work. The idea is, with this specific supply, KIN users will be able to earn/spend/tip/trade in values like 16 and 32 instead. Nice clean whole numbers. This just makes sense for user experience. Also it makes a lot more sense for design purposes. Trying to tell a design he/she needs to find a way to put 0.000000016 into the display is a challenge. Asking them to add 16 somewhere is much cleaner and easier.

Yes it's kind of a shocking number and goes against the grain as far as what the crypto world is used to, but there was a real thought out purpose for the supply chosen and it wasn't greed.

There was definitely a lot of hype around the project in the beginning. Mainly because it was the first unicorn company ($1B valuation) getting into the space and creating a cryptocurrency. One of the main points surrounding the project was that it would be integrating Kin into the Kik chat app which has 300 million users. It alone would essentially make Kin the most used cryptocurrency in the wold. Now add more and more apps of smaller, equal, and larger size, and you can see why this is a big step for crypto in general.

Unfortunately the SEC did derail that early on with the lawsuit. Development continued, but was pretty restrictive. Some larger apps decided to wait on the sidelines or pass as they were afraid that KIN might be a security and didn't want to get involved. Exchanges also stayed away for similar reasons.

Around that time we were maybe pushing 100,000 Monthly Active Spenders which was a great achievement. Since then, the ecosystem has grown to over 3,000,000 Monthly Active Spenders and even touched 4M a couple months ago. As of right now, I'm only expecting this value to climb as more applications join ecosystem and as current application refine their KIN integrations. KIN today is actually the most used cryptocurrency by mainstream consumers. No other crytpo has millions of mainstream consumers user their currency. I'm not sure many in the crypto space are even aware of this.

The price in my mind was extremely suppressed by the news, investors scared away, and lack of exchanges. Regardless all the other metrics (non price related) have been climbing. More and more pressure is being put on the markets by natural demand with recent progress like Kin Ads. Even with the SEC cloud. If that cloud is removed, I think we should see a large change in sentiment. From apps, users, investors, and exchanges across the board.

What is interesting is it's already happening to some extent. Even with the case in the final stages and not officially over, Bithumb Global just added KIN a couple days ago. Apps are expanding their KIN offerings and there's just a lot of new things going on all of a sudden.

I'll first start this answer off by mentioning I'm definitely not a lawyer and this is just my own thoughts.

Another thing to point out is this case is specifically about the Token Distribution Event and not about the current state of KIN. The SEC is claiming that the way that KIN was sold and distributed back in 2017 itself was an unregistered securities event.

As I understand it, the outcome has many different possibilities. Best case the Judge or Jury finds that Kik didn't violate securities law. If that's the case there would be no penalty and it would likely be safe to assume that KIN itself is not a security today either.

It's possible that the Judge or Jury does find that the sale of KIN was a securities transaction to the public, but not the investors. That would mean that the potential penalty would be smaller compared to being penalized for the entire sale.

It's also possible that the Judge or Jury does find that the sale of KIN was a securities transaction to both the public and the accredited investors. If that's the case the penalty would be larger.

Even if that last scenario happens, it doesn't necessarily mean the end of KIN. Kik Interactive would have to pay fines and whatever else is required, but then might just carry on with their development and plans. I guess it's also possible that an outcome could also require that Kik Interactive no longer participates in the ecosystem or something, but I'm not 100% sure. Even if that was the case, there are 50+ other apps who are developing for the ecosystem. Yes Kik does have a larger role in the ecosystem today, but that role is becoming smaller and smaller each day as the ecosystem grows and becomes more decentralized. So it isn't crazy to think that KIN can continue on even if Kik Interactive is diluted as the outcome of the case.

The most important thing is if KIN is a security today. Unfortunately that's not what the case is about and most likely won't get a ruling on that topic. If it goes to trial it's possible the talking point comes up and someone on the SEC is forced to give their opinion on the status today, but not sure the likelyhood of that coming into play. Unlike Telegram, KIN tokens are already in the wild. Already being used by millions of users every month. Shutting down Kik (one app of the ecosystem, but yes the founding app) might hurt KIN in the short term, but not be the end of the project.

Because of Coronavirus there was teleconference meeting between the SEC, Kik, and the Judge yesterday and was open to the public to listen in. It was very informative and interesting. Kik has hired some of the top lawyers around. It has a powerhouse team. I might be bias, but they came off as way more prepared and professional than the two government SEC employee lawyers. The Judge is very old (88 I think) which wasn't ideal, but he still seems sharp and understanding. He plays devils advocate with both sides to really test their arguments. It was all recorded. If you're interested in getting a feel for the arguments and where everything stands today. I would suggest taking a listen here:

https://soundcloud.com/judasaint33/oral-arguments-sec-vs-kik

seems like they are trying, but its too sketchy right now for me
the SEC is powerful, they can order you RIP and all your assets taken in a heartbeat
leaving investors holding worthless bags, and that would be seemingly AGAIN?  ouch
personally ill be waiting for all that SEC stuff to iron out, im not a gambler at heart haha

they shouldn't have been so greedy and gotten taken down by the SEC to begin with, the supply shows that tho, greedy team, way too high supply

If I'm not mistaken, they are really doing that good prior the the SEC case, right OP? It's just it was really derailed that some of the investors exited because they are afraid that they are going to lose the case anyways. But it was really has the potential and I remember that there was a lot of hype on this project in the beginning.

Thank you for that clarification, I was under the impression that KIN has lost the case as well.

Anyway, we will see how it goes, we all know that SEC is likely throwing everything on its path, suing everyone they deemed violates their law. What do you think will be the implications of KIN loses the case though? Specially that they are trying to really get the pieces back?

The chat app Kik just announced today they'll be expanding their Kin offerings within the app. Adding additional earns and spends over the coming weeks.

https://twitter.com/Kin_Ecosystem/status/1281422549281378304?s=19

Sounds like you're be able to earn Kin by watching videos, playing games, and more.

How this works is the application will earn money from the videos and games that you play and will share part of their ad revenue with the users in the form of KIN. It sounds like Kik will be purchasing more KIN to fund this effort.

"As part of this announcement we’re also excited to announce that we will be purchasing additional Kin!"

I'll be looking at it.

I'm still contemplating and learning things about KIN. I don't have to rush just to be sure.

Glad to hear that's your first impression. There is definitely great potential for the project. With just 50 or so apps right now not all of them are amazing. Some are solid and fun/easy to use. Others are just OK. Others are not too great and might fall off. However, as time goes by others will join. KIN recently released a new SDK for both iOS and Android and have a roadmap of releases to make their setup as easy as possible to use by all developers. In addition to KIN migrating to Solana which has 65,000 tps, it will also avoid scaling issues that it is already starting to experience on the Stellar Fork. Both of these not only opens the door for more apps, but much larger apps as well as it will be able to handle the onboarding without issues.

as i go through the website ans trying some of the apps...i really feel kin has a potential of making it to the top rated blockchain that will help grow the entire ecosystem

Only 1 more hour until KIN trading starts on Bithumb. The price has already jumped over 30% on the news.

https://i.imgur.com/Qc7v754.jpg

There are actually many more Android apps than iOS apps that have KIN integrated. I only shared iOS an an example, but here are the Android links for the examples I gave.

MadLipz - https://play.google.com/store/apps/details?id=madlipz.eigenuity.com&hl=en_US

PeerBet - https://play.google.com/store/apps/details?id=io.peerbet.peerbet&hl=en_US

KinFit - https://play.google.com/store/apps/details?id=com.kinfit&hl=en_US

MonkingMe - https://play.google.com/store/apps/details?id=com.monkingme.monkingmeapp&hl=en_US

Is the application to earn kin is only available in apple apps . Is there away to earn kin coins using android app ? All the list you give is only for apple app.



this is the right time to earn higher since they make an  event that you can also earn kin by downloading an app base on the post above they give 1,000,000,000 kin for This event.

That's a long read. Thanks for answering.

Which means that there are other methods that a person can do to earn KIN. I'll study about these method about KIN and see if what suits my position but I like the idea of most methods that KIN has.

Especially the last part of listening to music but I guess that reward isn't that much.

A 6,000,000,000 KIN Event Pool was just announced to coincide with the KIN Bithumb listing. Here is the official annoucement:

https://support.bithumb.pro/hc/ru/articles/360051446893

This is a great opportunity to earn some KIN. Here are the details:

【Event 1：1,000,000,000 KIN for Deposit】

Event Duration：July 7, 2020, 12:30 to July 15, 2020, 23:59 (UTC+8)

Event Rules：

During the event, users who have completed KIN net deposit greater than 20,000,000 KIN will receive 200,000 KIN rewards each. Each user will receive up to 1,000,000 KIN.

Prize Pool：1,000,000,000 KIN. First come, first served. (Net deposit = deposit – withdrawal)
 

【Event 2：4,000,000,000 KIN for Trading】

Event Duration：July 8, 2020, 20:00 to July 16, 2020, 23:59 (UTC+8)

Event Rules：

During the event, users who have accumulated KIN trading volume greater than 100,000,000 KIN are eligible to participate and Top 900 will win a reward.

Accumulated trading volume = accumulated buy + accumulated sell - accumulated withdrawal, but excluding self-sale.

Event Rewards：

TOP 1：1,000,000,000 KIN

TOP 2：800,000,000 KIN

TOP 3：600,000,000 KIN

TOP 4-5：500,000,000 KIN

TOP 6-10：equally divide up 400,000,000 KIN

TOP 11-20：equally divide up 200,000,000 KIN

TOP 21-50：equally divide up 100,000,000 KIN

TOP 51-100：equally divide up 100,000,000 KIN

TOP 101-200：equally divide up 100,000,000 KIN

TOP 201-500：equally divide up 100,000,000 KIN

TOP 501-900：equally divide up 100,000,000 KIN

Total Prize Pool：4,000,000,000 KIN. First come, first served.

 

【Event 3：1,000,000,000 KIN for APP Download】

Event Duration：July 7, 2020, 12:30 to July 16, 2020, 23:59 (UTC+8)

Event Rules：

During the event, users who download any of the following APPs, take screenshots and upload them to the form address will receive 300,000 KIN as rewards;
Uses who download and enter any of the following APPs, get any amount of KIN in the APP, take a screenshot and upload them to the form address will get 600,000 KIN as rewards.

Total Prize Pool: 1,000,000,000 KIN, first come first served. The reward can only be obtained once for each user.