KIN by Lykke Airdrop

Kik has been a leading innovator in the chat space since the first million people signed up for the chat application in 2010. Kik was the first chat app to become a platform in 2011, and the first Western chat platform to integrate bots in 2014. Throughout 2015 and 2016, Kik also experimented with a form of digital currency on its platform, called Kik Points. As a company, Kik has been searching for a sustainable monetization model that does not compromise user experience or privacy. Rather than opt for mass display advertising or the selling of consumer data, Kik has decided to adopt a decentralized organizational model. Its goal is to encourage the development of a digital services ecosystem that is fair and open. Kik prefers to be a participant rather than a landlord in this user-first economy. To foster an ecosystem that is not only open and decentralized but also more compelling than its traditional counterpart, Kik must create a series of new products, services, and systems. Building a decentralized system is a complex process, and the transition to it must be done in a measured and responsible way over time. The following sections of this paper outline Kik’s plan for launching an entirely new platform: the Kin Ecosystem. A new digital currency The first step is to create a new cryptocurrency: Kin. Related to the word “kinship,” and conveying a feeling of being connected to community, the Kin identity and currency is designed specifically to bring people together in a new shared economy. But simply creating a digital currency is not enough. For a cryptocurrency to be viable, it must also be useful and valuable. To establish an economy around the new currency, Kik must help to establish Kin’s fundamental value.