Kin Newsletter: KinAds.org launches with first partner, economic insights from the Kin Foundation, and more...
May Newsletter
Big things are happening in the Kin Ecosystem, thanks to the big efforts of its participants. Kin is a new digital economy powered by an ecosystem of 50+ consumer apps - and it's growing stronger and more diverse by the day. Over the last month the ecosystem has come together to contribute in a major way, seizing the opportunity to leverage recent growth to create new and innovative projects that help stimulate both real demand by consumers and increased participation in the ecosystem.
Kin Ads has hit the ground running, recently launching their website (KinAds.org) along with the announcement of their first partner, PeerBet. While it is still early, the Kin Ads team has already been successful in driving Net Dollars Bought by enabling a user experience where people can buy Kin with their attention - exciting progress from new members of the ecosystem toward making the vision of Kin a reality.
The Kin Foundation also recently published its first economic report in the form of a brief summary of indicators that are being measured to track the health of the Kin Economy. These metrics will continue to be refined to more effectively guide monetary policy that supports the growth of the Kin Economy.
The Kin Community Council has also launched a pilot community rewards program, aptly referred to as Kin Community Rewards. This is an innovative approach to spurring development contributions from within the Kin Ecosystem, and a way of showing appreciation for those contributions. The Council hopes this initiative will propel the Kin community to rival the level of collaborative achievements of other cryptocurrency communities, and beyond.
The Kin Foundation recently had their collaborative Board meeting with the first Kin Representative. As a part of their commitment to transparency, they will begin to share very brief summaries of the contents of those meetings in each month's newsletter. You can find that in this month's Kin Foundation Minute section below.
The Kin Ecosystem has come together to embody its own philosophy - working together to succeed together. Now, without further ado, let's get into this month's highlights!
May Contents
KinAds.org Launches with First Partner: PeerBet
Kin Economy Report: May 2020
Kin Community Rewards: Rewarding Contributions to the Development of Kin
Kin Foundation Minute: A Brief Summary of the Latest Kin Foundation Meeting
KinAds.org Launches with First Partner: PeerBet
The Kin Ads team has launched their website, along with the first Kin Ads integrated app, PeerBet. Kin Ads is driving real consumer demand for Kin by generating value for advertisers, and allowing consumers to get paid for that value. Their vision is a valuable network of connected apps using Kin as a common currency.
As the first grantees from the Kin Foundation Grant Program, the Kin Ads team has done an excellent job bearing the torch for others to come. Leading by example, they have already shown the ability to collaborate and execute as a globally distributed team across time zones.
As Kin continues to make meaningful progress in the race to real consumer demand, something that no other project has achieved, Kin Ads is already proving itself to be an integral part of that effort.
Last month, Kik published research into different metrics that can function both as key indicators of the Kin Economy's health and in measuring the effectiveness of the Kin Foundation's allocation of the Kin Reserves. The Kin Foundation has taken up these metrics and has begun to share them with the public on a regular basis.
This is especially exciting to see if you're someone who is invested in the success of the Kin Economy in any way. These metrics paint a clear picture of the trajectory of the economy and the levers at play for economic policy.
Of particular note within this month's report is the multiplication of Kin Spent Per Day within the Ecosystem, which is much like the equivalent of the Kin economy's GDP. This is thanks to KRE 2.0 incentivizing higher spends.
By looking into these with more granularity, we can start to get an idea for the value of Kin goods and services within the economy, and augment them further.
You can read the Kin Economy Report for May 2020 here:
Kin Community Rewards: Rewarding Contributions to the Development of Kin
The Kin Community Council has launched Kin Community Rewards, a pilot incentive program that rewards independent contributions to the Kin Ecosystem, along with a live leaderboard and an open scoring rubric that can be contributed to by the community.
Kin is an open ecosystem that allows anyone to join and contribute, and one of the biggest benefits of being structured in such a decentralized way is that people around the world can work together to achieve something greater than the sum of their collective efforts, and succeed together by doing so.
By creating an incentive model for contribution to the development of the ecosystem, the Kin Community Council hopes to propel the level of contribution by the Kin community to rival and exceed that of the greatest open source projects, much like the Kin Rewards Engine made Kin into the most used cryptocurrency in the world.
You can read about Kin Community Rewards and review the contributions here:
If you'd like to check out the live leaderboard, submit your own contribution, or contribute to the scoring rubric, follow the links / instructions here:
Kin Foundation Minute: Brief Monthly Summaries of the Kin Foundation Board Meetings
The first open board meeting of the Kin Foundation was held on April 20, 2020, as the board welcomed Matthew Hannam as the first Kin Representative. Matt has been extensively involved in the Kin Ecosystem and his efforts to revise the KRE valid transaction guidelines were a key factor in his selection by the Board.
At the meeting, the Board approved the following matters:
A further revision to the KRE valid transaction guidelines proposed by Kik Interactive Inc. and Rep Hannam to establish a process for addressing reports of KRE violations with the assistance of the Kin Community Council.
Recommendation to fix the buy-track language to match what actually occurs in the KRE payments.
A proposal to provide stipends to the Kin Community Council for their work.
A pilot program to reward community contributions to the Kin Ecosystem for such things as identifying application violations of the valid transaction guidelines, contributing to the KRE, and creating education materials, Kin content, or new tools within the Kin ecosystem.
The next Kin Foundation Board meeting is scheduled for May 19th. Currently, the Board has received and is reviewing nineteen applications to join the Kin Representatives and plans to announce additional Kin Representatives in the future.
More News from the Kin Ecosystem
Cuppa Kin Issue #1 | May 2020
The Kin Council has launched an e-magazine to provide regular updates to the Kin Community. Check out the first edition issue here.
Kin Ads AMA
Learn more about Kin Ads with a podcast AMA hosted by Cuppa Kin. Watch the AMA here.
In-Depth Guide to the Kin Foundation Grant Program
The Kin Foundation has released a step-by-step guide on the application and approval process for Kin Grants. Learn more here.
Judge Approved Blockchain Association's Brief in Kik Case Despite SEC Objections
A U.S. District Judge allowed the Blockchain Association to file a brief in an ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) and Kik despite the regulator's objections. Learn more here.
Ted Livingston Named in Top 100 People in Crypto and Blockchain
Ted Livingston has been recognized as one of the top 100 people in the industry by CoinTelegraph. Read more about the story here.
Kin Foundation, 22 Adelaide St W, East Tower, Toronto, Ontario
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