Kin Foundation Sets Phase 2 Of Developer Incentive Program

Announcements, Innovation | January 12, 2019 By:

The Kin Foundation, the nonprofit governance organization for the cryptocurrency Kin, which powers the popular messaging app Kik, has set the second phase of its developer program.

The formal announcement on the Kin Developer Program arrives next Tuesday, Jan. 15. The initiative will offer 100 developers a chance to earn over 100M Kin and fiat rewards for successfully launching their own Kin economies over a four-month period.

The program provides developers with all tools required to integrate consumer-ready cryptocurrency into mainstream apps, while offering a financial incentive to create natively within the Kin ecosystem.

The program capacity during Phase 1 was initially set at 25 developers and then increased to 40 based on the amount of submissions received. Within 30 days, 29 apps went live (iOS and Android) with 1.3M transactions from 28,000 users, 10,000 of which are active spenders.

Kin-enabled apps that launched during Phase 1 include BlastChat, Kinny, PauseFor, and Rave, joining other established apps Kik, Perfect365 and Kinit. For the Phase 2 launch on January 15, 2019, the program capacity will increase to 100 additional developers, with the goal of all 100 apps going live by May 14.

Once live, developers will receive 100M Kin to jumpstart their economy, and the first 40 to go live will receive an additional fiat bonus. Once formally accepted, developers will receive 1M Kin and Kin swag, and then receive 40M kin for every milestone achieved.