Cryptocurrency Kin Commits Nearly $3M USD To Kin Developer Programbr>
The Kin Ecosystem Foundation, the creators of messaging app Kik and the Kin cryptocurrency, has announced the launch of the Kin Developer Program.
The Kin Developer Program will offer up to 25 developers a total of nearly $3 million to create and maintain independent “Kin economies” over a six-month period. Developers accepted into the program will be equipped with the necessary tools for creating Kin-powered experiences, including the Kin Ecosystem software development kit (SDK). They will also receive mentorship as they progress through the program.
Developers have a chance to earn as much as $115,000 in the three-phase program. The goal is to create apps that would provide users with in-app opportunities to earn Kin or the out-of-the-box earn experiences included in the Kin Ecosystem SDK. For each phase, participants must achieve certain goals in order to be eligible for the full amount of the incentive: They have until October 2 to build an app approved to run on its SDK, until January 2019 to grow it to 10,000 monthly active wallets (MAW), and until April 2019 to grow to 50,000 MAWs.
“Up until now, developers haven’t had access to a consumer-ready cryptocurrency that can easily be integrated into mainstream apps and platforms,” said Ted Livingston, founder and CEO of Kik and Kin Ecosystem Foundation board member. “The Kin Developer Program offers just that, and it also financially incentivizes developers to create natively with Kin, bringing us closer to our goal of becoming the most used cryptocurrency in the world.”
Applications to participate in the Kin Developer Program can be submitted through August 10, and up to 25 submissions will be accepted into the program on August 15.
Last month, the kin token went live in the Kik app in a closed beta, allowing testers to earn Kin by completing in-app microtasks such as taking a quiz or viewing a tutorial. Testers can use these tokens to purchase premium themes for the Kik app’s chat screen from the new Kin marketplace. However, they will not be able to deposit or withdraw tokens during the beta trial.