Kin
Crypto Overview
Project Overview
Kin is a cryptocurrency created by Kik Interactive in 2017, designed to be a digital currency for everyday use within digital applications and services. The project aims to create a decentralized ecosystem where developers can integrate Kin into their applications, and users can earn and spend the currency across various digital services.
Intended Utility
The primary intended purpose of Kin is to serve as a transactional currency within digital applications, particularly focusing on social media, gaming, and digital services. Developers can implement Kin to monetize their applications through a reward system, where users earn Kin for contributing to the ecosystem and can spend it on digital goods and services.
Actual Utility and Implementation
Kin has achieved notable real-world adoption, with dozens of applications integrating the cryptocurrency. The Kin ecosystem demonstrates active usage, with millions of monthly active spenders across various applications. The project migrated from Ethereum to Solana blockchain in 2020 to improve transaction speed and reduce costs.
Token Distribution and Governance
The initial token distribution allocated 30% to Kik Interactive, 60% to the Kin Foundation for ecosystem development, and 10% to public sale participants. The Kin Foundation, a non-profit organization, oversees the ecosystem's development and grant distribution. The project demonstrates transparency in its operations and governance structure.
Development Activity
The project maintains active development, with regular updates to its SDK and infrastructure. The Kin Developer Program incentivizes developers to build applications within the ecosystem, showing commitment to long-term utility development rather than short-term price speculation.
Crypto Impact
To assign a comfort level investing in Kin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Kin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.