A ‘currency’ for the established social network platform - KikKIN is a social network currency (short for kinship) which is anticipated to launch on the social media platform Kik.
Kik has over 15 million monthly users and has raised previous rounds of finance ($110m) as an established company.
The purpose of KIN tokens can be summarised as the following:
1) a network currency that is utilized by members of the platform to buy in-app upgrades and features (such as emojis, gifts, etc ..)
2) a marketplace for people to buy and sell goods as well as P2P payments of Kin between users
3) a reward token for developers to continue building out and improving the Kik eco-system as well as a currency utilized for marketing and advertising
While Kik is an established platform with an increasing user base, its upcoming token (KIN) likely won’t be released on the platform until ‘this coming summer.’
Token SaleUnder the token KIN, Kik will issue exactly 1 trillion tokens for sale out of a 10 trillion total of KIN in circulation (10%).
Approximately 30% of the tokens on issue will be held by management at Kik. These tokens will be subject to a long term vesting schedule of 10% every quarter.
The remaining 60% will be used for distribution of rewards over the next three years. The white paper further details the likely distribution of these tokens in detail.
Tokens for InvestorsThe tokens received by investors can either a) be used on the platform (if you are an active user of Kik) or b) traded on the exchange once listed.
Kik notes in their white paper that token distribution will commence once the upgrade and integration have completed. Judging from the correspondence they have released, this could be early 2018.
(note, we are unsure at this point what the intention/timeframe is for any exchange listing of KIN)
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