Kin
Crypto Overview
Purpose and Background
Kin is a cryptocurrency created by Kik Interactive in 2017, designed to serve as a digital currency for use within mobile applications and digital services. The token aims to enable a digital economy where users can earn and spend KIN across various apps in the ecosystem.
Current Utility and Implementation
Kin operates on the Solana blockchain and is actively used in various mobile applications. Users can earn KIN by participating in app activities and spend it on digital goods and services. The ecosystem includes dozens of active apps where KIN is being utilized for its intended purpose.
Business Model Analysis
The business model focuses on creating a digital economy within mobile applications. The primary activities involve transparent transactions between users and app developers, with no inherent interest-bearing components or impermissible activities in its core design. Apps in the ecosystem generally focus on social media, gaming, and digital content creation, avoiding explicit haram industries.
Adoption and Usage
According to recent data, Kin maintains active usage across multiple applications in its ecosystem. The Kin Foundation reports millions of monthly active spenders across various apps, demonstrating legitimate utility and adoption of the token for its intended purpose.
Development Activity
The project maintains active development, with regular updates to its SDK and developer tools. The Kin Foundation continues to support ecosystem growth through grants and developer incentives.
Token Distribution
The initial token distribution allocated 30% to Kik Interactive, with the remaining tokens distributed to the Kin Foundation, ecosystem participants, and through public sales. Vesting schedules were implemented for early stakeholders to ensure long-term alignment.
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.