Kin (KIN)

$0.000092 (-1.4%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
175 $139,424,000.00 $479,630.00 1,518,110,000,000 KIN -- -1.4% -7.27% $0.00

Exchange Pair Volume (24h) Price
HitBTC KIN/BTC 62,696.00 0.0000000019
HitBTC KIN/ETH 15,920.51 0.0000000590
FTX KIN/USD 215,972.00 0.0000897000
Mercatox KIN/ETH 4,381.13 0.0000000700
Gate.io KIN/USDT 142,362.00 0.0000899700
Bithumb Global KIN/USDT 67,423.00 0.0000987990
FatBTC KIN/ETH 26,150.00 0.0000000490
FatBTC KIN/USDT 11,363.11 0.0000805700
Serum DEX KIN/USDT 3,615.00 0.0000790000
Bancor Network KIN/BNT 6.05 0.0000125848
Mercatox KIN/LTC 2,483.38 0.0000005400
YoBit KIN/USD 42.11 0.0000750000
YoBit KIN/RUR 26.69 0.0057400000
YoBit KIN/DOGE 16.59 0.0014007000
StellarTerm KIN-GBDEVU63Y6NTHJQQZIKVTC23NWLQVP3WJ2RI2OTSJTNYOIGICST6DUXR/XLM 474.74 0.0002439000
YoBit KIN/ETH 101.49 0.0000000400
Uniswap (v1) KIN/ETH 1,728.22 0.0000000296
CoinAll KIN/BTC 83.91 0.0000000017
Serum DEX KIN/USDC 1,420.87 0.0000952000
YoBit KIN/WAVES 4.50 0.0000080000
ForkDelta KIN/ETH 1,070.00 0.0000000760
SatoExchange KIN/BTC 0.29 0.0000000200
SatoExchange KIN/ETH 99.50 0.0000008500
Mercatox KIN/BTC 18.38 0.0000000100
YoBit KIN/BTC 15.01 0.0000000100

Background

Kin is an open-source token project built into the Kik social media platform. Kin was created to enable a social media-based marketplace for good and services. Unlike other social media platforms that monetize user attention and activity, Kik plans to use Kin to reduce advertising incentives and enable developers to build better products on the Kik platform. Kin is an iteration of Kik Points, a discontinued token on Kik that users can earn for watching ads and redeem for good or services on the platform (e.g., limited edition emojis). The Kin blockchain is currently controlled by the Kin Foundation, which makes development decisions, defines the project roadmap, and temporarily holds 60% of the total Kin token supply. The Kin Foundation’s stated goal is to be a curator while guiding the young Kin protocol toward a decentralized ecosystem controlled by Kik users.

Technology

The Kin blockchain is a customized fork of the Stellar codebase. Kik originally planned to build the Kin tokens on Ethereum, but decided against it based on the current transaction throughput limitations of the Ethereum blockchain. Kin uses a proof-of-human-work rewards model to incentivize buying and selling goods and services on the Kin network. The Kin team believes that using a token to facilitate commerce over social media will allow developers to monetize valuable goods and services, creating an incentive to supply a broader set of products. The Kin Foundation created a Kik rewards system called the Kin Rewards Engine (KRE) that algorithmically compensates users for transactions with Kin tokens on a daily basis. The KRE allocates participants into categories based on where they spent or received the largest number of KIN on a given day. When the most popular service category is determined, Kin tokens are allocated to the users based on their end-of-day Kin holdings.



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