INSUBCONTINENT EXCLUSIVE:
Kik made waves last year after a successful $100 million ICO
Now the company has released its first beta product related to its Kin token
Called Kinit, it a simple wallet that enables users to earn, store, and spend its tokens.
&Kinit is a fun, easy way to earn Kin, a new
cryptocurrency made for your digital life
Earning Kin is just like playing a game, only better, because you get rewarded for completing fun daily activities like surveys, quizzes,
interactive videos and more,& reads the Google Play Store description
You can download the app for Android here.
The Kin token is unique for a few reasons
First it is not a traditional ERC-20 token and is instead uses Ethereum for liquidity and the on the Stellar network to improve transaction
Further, the company is spending a great deal & about $3 million & to get developers to develop on the token through its KinEcosystem site
The Kinit app is the first effort to get normal users to adopt the tool.
The app makes it possible for users to generate a few dollars in
value per day and then exchange those dollars for gift cards and perks
According to CCN, Kik has created a product without a business model and instead it wants to drive the adoption of the token through
giveaways.
&Kinit is the first publicly available app dedicated to Kin
Our goal with Kinit is to get Kin into more consumers& hands
It a major step towards making crypto truly consumer-friendly through fun and engaging experiences, and we plan to learn and iterate based
on real-world user behavior
We&re excited to get even more people earning and spending Kin — all on the Kin Blockchain,& wrote Rod McLeod, Kik VP of
The app currently asks you to complete surveys in order to get discounts and gift card codes for products.
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With the rise of the product-less ICO it clear that Kik has the right idea
By encouraging usage they drive up the token price and token velocity and by launching a general beta full of cutesy imagery and text they
are able to avoid the hard questions about developer adoption until far into the future
While the KinIt app is probably not what most Kin holders wanted to see, it at least an interim solution while the team builds out sturdier
