Kin
Crypto Overview
Overview
Kin is a cryptocurrency created by Kik Interactive in 2017, designed to be a digital currency for use within mobile applications and digital services. The project aims to create a decentralized ecosystem where users can earn and spend Kin tokens across various apps and services.
Purpose and Utility
The intended purpose of Kin is to serve as a digital currency for in-app purchases, content creation rewards, and peer-to-peer transactions within mobile applications. The Kin ecosystem encourages developers to integrate the token into their apps, allowing users to earn and spend Kin through various activities.
Current Usage and Adoption
Kin has achieved notable adoption within mobile applications, with dozens of apps integrating the token. The Kin ecosystem reports millions of monthly active spenders across various applications. Users can earn Kin by participating in app activities and spend it on digital goods and services.
Platform Development
The project maintains active development, having migrated from Ethereum to Solana blockchain for improved scalability. The Kin Foundation continues to support ecosystem growth through developer programs and grants.
Token Distribution
The token distribution includes allocations for ecosystem development, rewards, and operational costs. While initial distribution included significant allocations to the founding team and early investors, vesting schedules were implemented to align long-term interests.
Revenue Model
The primary revenue model revolves around legitimate exchange of digital goods and services, with no interest-bearing mechanisms or gambling elements. The ecosystem focuses on real utility through app integration and user engagement.
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.