Kin (KIN)

$0.000049 (16.53%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
342 $74,059,700.00 $603,825.00 1,518,110,000,000 KIN -- 16.53% -7.38% -$0.01

Exchange Pair Volume (24h) Price
Gate.io KIN/USDT 168,723.00 0.0000488700
FTX KIN/USD 215,862.00 0.0000489400
HitBTC KIN/BTC 1,716.09 0.0000000012
Serum DEX KIN/RAY 23,926.00 0.0000167000
HitBTC KIN/ETH 36.94 0.0000000213
CoinTiger KIN/USDT 373,857.00 0.0000343300
FatBTC KIN/ETH 113,763.00 0.0000000240
Serum DEX KIN/USDT 12,592.76 0.0000493000
Serum DEX KIN/USDC 1,185.61 0.0000481000
Bithumb Global KIN/USDT 14,635.68 0.0000480000
FatBTC KIN/USDT 7,117.43 0.0000509100
HitBTC KIN/USDT 411.94 0.0000492040
YoBit KIN/USD 18.64 0.0000600000
Mercatox KIN/LTC 6.48 0.0000004000
Raydium KIN/RAY 50,164.00 0.0000167330
Raydium KIN/USDC 638.72 0.0000487017
Mercatox KIN/ETH 136.50 0.0000000300
YoBit KIN/RUR 5.96 0.0048800000
StellarTerm KIN-GBDEVU63Y6NTHJQQZIKVTC23NWLQVP3WJ2RI2OTSJTNYOIGICST6DUXR/XLM 210.07 0.0003864000
MEXC Global KIN/USDT 452,446.00 0.0000482900
YoBit KIN/ETH 0.64 0.0000000200
YoBit KIN/WAVES 0.22 0.0000037200
Mercatox KIN/BTC 0.34 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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