Friday, December 4, 2020

Kin is migrating to Solana! Are you ready? || Kin Newsletter December 2020

December 2020
Reminder: Kin is migrating to the Solana blockchain on December 8th, enabling it to continue growing as one of the most used cryptocurrencies by mainstream consumers. In this newsletter, we feature what you need to know if you are holding Kin.

In a nutshell, on the morning of December 8th, snapshots of token accounts and balances will be copied on the Solana blockchain, then the Kin blockchain will stop confirming transactions. Immediately after, the Solana blockchain will take over and start confirming transactions. However, this migration will not be instant. Since there are over 55 million Kin wallets, it might take 1-2 days before your token account shows up on Solana, while the Solana network processes all of these new account creations.

Rest assured, no Kin will be lost during the migration, but what you need to do will depend on where and how you are holding your Kin.
Aside from being on the eve of this important migration, the Kin Foundation updated its Board Governance. William Mougayar is now Executive Chairman, succeeding Ted Livingston who remains a Director, and Matt Hannam has joined as a third Director.
To make sure you are prepared, here are some starting point steps. In addition, you can always refer to this permanent page on our website, covering the migration:
  • If you still hold ERC-20 Kin (Ethereum) tokens in any wallet, do nothing, and hang tight. There will be a tool that will allow you to make the swap, soon after the migration. We will publish details when they are available. 
  • If you are on TrustWallet, their migration support is confirmed, but will not be available til 2-4 weeks after Dec. 8th. You could sit tight with your Kin (and they will not be accessible during this interim period), and later you can expect to see them converted to the Solana version (SPL Kin) via that wallet.
  • If you are on Atomic Wallet, they have not yet confirmed the timing for their support. No action is required on your part, as long as you have your private keys, and you know how to restore them in another (new) wallet after the migration, in case Atomic Wallet doesn't move with the Solana chain. If you need assistance acquiring your private keys, contact that wallet's support team.
  • If you are on any of the exchanges that are supporting the migration, your Kin will be automatically converted after the migration. These exchanges include Bithumb Global, Gate.io, Cointiger and HitBTC.
  • If your Kin's private key is on a Ledger, there will be a new Ledger app that will become available later. 
  • If you are using MyKinWallet with Ledger, you can wait for the new Ledger app mentioned above. If you are using MyKinWallet with a key pair, then your keys will still work after the migration.
  • If you are on a wallet or exchange that hasn't been mentioned above, AND you do not have access to your private keys (or the wallet doesn't let you extract them), then you could move your Kin to a paper wallet before Dec. 8th. Once you have done that, this gives you the choice to subsequently send your Kin to any of the supported wallets or exchanges, later.
  • If none of the above steps apply to you, or if you are still confused, email us at info@kin.org specifying exactly where/how your Kin is currently stored and details of your issues. 

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