The Kin Newsletter is back! On the second Tuesday of each month we'll highlight exciting developments and achievements from across the ecosystem - and with over 50 developers all working together to drive the growth of Kin, there is a lot to be excited about.
In the last month the number of people spending Kin has more than tripled, going from 1.3MM to over 4MM monthly active spenders, reaffirming Kin's position as the most used cryptocurrency by mainstream consumers. This scale has created even more opportunities to drive real, sustainable demand for Kin, and the ecosystem is coming together to take advantage of that.
The Kin Ads project has officially launched, giving apps a new way to monetize with Kin. Users can get paid for their time while apps are compensated through the Kin Rewards Engine. This is not only a big step forward for developers and users, but also a key driver of the value of Kin. The team at Kik Inc. also published an article unpacking how these economic pieces fit together.
To support the continued growth of Kin, the Kin Foundation has expanded its governance to create more opportunities for the ecosystem to have an influence in the allocation of the Kin Reserves.
The Kin Ecosystem continues to exemplify that by working together, we can succeed together. Now let's jump into this month's highlights!
April Contents
Kin Surpasses 4MM Monthly Active Spenders
What Matters: Net Dollars Bought
Kin Ad Network Brings Real Demand to Kin
The Kin Foundation Expands with the Kin Representatives
Kin Surpasses 4MM Monthly Active Spenders
As highlighted in this CoinDesk feature, Kin has seen impressive growth as people spend more time on their phones during this pandemic. And since publishing this piece just 10 days ago, Kin has added another 1.2MM MAS. Two leading apps in the ecosystem, Madlipz and Rave, were also featured in this article. They've both seen impressive growth, each more than doubling in MAS in the last month.
The growth figures for Kin and each of the individual apps can be found at Kin.org/stats
What Matters : Net Dollars Bought
For the Kin economy to grow, it needs to be focused on driving real demand for Kin as a currency. The team at Kik Inc. published a piece unpacking key metrics to look at when evaluating the healthy distribution of Kin. This is a foundational piece that gives insight into what will have the most positive impact on the value of Kin. The following excerpt provides a quick glimpse into the basis of the article:
"For the Kin economy to continue to grow, the ecosystem now needs to focus on driving real demand for Kin. This means getting users to want Kin enough to be willing to spend their dollars or attention in order to get it. Most crypto markets are incredibly volatile and driven by speculative demand. Real, sustainable demand is what will be most important for the long term health of Kin."
With the Kin Ecosystem reaching the scale of millions of active users, an opportunity has emerged to connect advertisers to the economy and get users paid for their time online. A collection of Kin Ecosystem participants, led by Miquel Tolosa, CEO of MonkingMe, have teamed up to launch the first Kin Ad Network, bringing real demand to the Kin Economy.
Matt Hibberd, Head of Kin US, published a piece outlining the impact that ads can have for Kin and the Kin Ads team published a piece outlining their strategy with the Kin Ads Network. You can read both of those here:
The Kin Foundation Expands with the Kin Representatives
One of the key advantages of a decentralized ecosystem is that there are aligned incentives for people to work together to accomplish more than they could alone. As the Kin Ecosystem continues to expand, the Kin Foundation has been working to expand its governance. To that end, the Foundation recently announced the Kin Representatives, an advisory board that can influence how Kin Reserves are allocated. In addition, the Kin Foundation has announced the appointment of the first Kin Representative. This is an exciting step forward in growing the reach and impact of Kin. This excerpt provides a good overview of what this means for Kin:
"The Kin Representatives is another step in the Kin Foundation's continued expansion of governance. The purpose of the Kin Representatives is to be a conduit between the Kin Foundation and the community of developers and holders. Through the Kin Representatives, Kin holders will have the ability to influence how the Kin Reserves are allocated."
A new stats dashboard has been released that allows apps to track their KRE performance metric-by-metric. If you would like to view the stats, click here.
User Earn Subsidy Application
The Kin Foundation is now offering qualified teams the opportunity to apply for a grant of kin to jump-start their own digital economy and join the Kin Ecosystem. Learn more here.
Kin Foundation, 22 Adelaide St W, East Tower, Toronto, Ontario
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