What Is KIN?
KIN is a decentralized crypto asset, which can be integrated into a variety of crypto-based applications in order to improve user experience. It’s referred to as “money for the digital world” and it intends to give users, app developers, and content producers the chance to profit from their contributions to the digital world. If you want to see the current KIN price, check out the Kin price chart featured above.
Overall, there are three main actors in the Kin ecosystem – app developers, creators, and users. App developers are the ones who build applications, creators are the ones who publish content on these applications, and users, of course, are the ones who consume that content and earn KIN tokens.
The Kin network offers app developers an SDK and OS tools to provide them with a hassle-free integration of KIN into their applications. Besides, the Kin crypto project encourages developers through the Kin Rewards Engine, which rewards them when users spend KIN coins inside their apps. The more users spend, the more rewards developers receive.
Besides, the Kin network has its own wallet called MyKinWallet. It’s an open-source crypto wallet that is used to manage KIN tokens. However, it can only be used to transfer KIN to other crypto wallets.
Who Developed Kin?
The Kin crypto project was launched in 2017 by Kik, which is the company behind the Kik chat application. The Kin Foundation governs and grows the ecosystem of the Kin network. Initially, KIN tokens were based on the Ethereum network. However, the Kin network eventually migrated to the Solana blockchain, which offers faster transaction speeds and lower fees than Ethereum.
Tokenomics of KIN
The max supply of KIN tokens is 10 trillion. Undistributed KIN tokens are kept in the Kin treasury. It is regulated by a number of inflation thresholds, vesting schedules, and fiduciary custody restrictions. This ensures that the Kia network makes secure transfers and uses its funds properly.
If you plan to purchase KIN coins, do keep in mind that the KIN price is prone to fluctuations, just like most crypto asset prices are. You can see how the value of KIN changes on the Kin price chart featured above.
