Kin Basic Review
|Start ICO||10 Sep 2017|
|End ICO||24 Sep 2017|
Ticker symbol: KiN
Project type: A decentralized ecosystem of digital services within KiK messenger
Company: Kik Interactive Inc. 420 Weber Street North, Suite I, Waterloo, Ontario N2L 4E7 Canada
ICO: Until the end of 2017
Soft cap: No information available.
Hard cap: No information available.
Token: KiN, follows ERC20 standard
Bonus structure: нет данных
Referral system: нет данных
Open source: No information available.
Team size: 20, plus 7 advisors.
Developer team active: Yes, steady activity on Slack
GitHub: No information available.
Wiki: No information available.
Twitter: +1157 followers
Reddit: Reddit: +512 redditors
Facebook: No information available.
YouTube: No information available.
KIK is a Canadian messenger created in 2009. Being the pioneers of the industry, the team of developers introduced KiK as a chat app for mobile devices. The industry response was really positive: in 2009 the founders managed to attract more than $120 mln.
Now KiK founders led by Ted Livingston are planning to move the whole project to blockchain. In order to do that they are going to introduce a cryptocurrency called KiN. In fact, the team is willing to change the project’s current business model by using only decentralized technologies. The cryptocurrency will be used to pay for the goods and services inside the messenger, as well as to get access to the private groups with unique content.
Currently projects mostly issue tokens for their financial development whereas their founders don’t have anything except the idea. With KiK however the project already has its own product – KiK messenger with 300 mln active users. According to KiK founders, messenger users will be able to try out new features right after the ICO.
We recommend to BUY KiN tokens during the ICO.
It has to be acknowledged that KiN is the first attempt of a hi-tech company to enter the cryptocurrency market. This brings on a great fuss around the project which has been mentioned not only by blockchain themed resources but also by Bloomberg, Reuters and Forbes.
KiK is the first mainstream project which officially introduces blockchain into its already operating business. The project’s results will be under increased attention.
The uncertainty about the ICO start date is also causing quite a stir. So far it is only known that ICO will take place until the end of 2017.
Potentially the project implementation may increase KiK market share which is an important competitive advantage.
- an experienced team
- the project’s competitive position in mobile messengers’ market will most probably improve
- the team has successful experience in implementing similar features in KiK (KiK points)
- the success of the project doesn’t depend on the amount of funds attracted during ICO
- the project already has a loyal audience – about 300 mln active KiK users
- The ICO start date is unknown
- There is no technical documentation
Review of Competitors
KiN token and KiK messenger should not be examined separately. The project will compete in two huge markets at once: on the one hand there are mobile messengers where KiK has already gained a reputation and a market share, on the other hand – the cryptocurrency market.
After implementing KiN, the founders hope to broaden their audience by attracting service providers and removing ads from the messenger: the new business model doesn’t require advertising to keep the project afloat.
According to statista.com at the end of May 2017 KiK was the seventh messenger in the USA by monthly active users and the fourth messenger by user engagement in minutes.
The founders are planning to succeed in the cryptocurrency market. The fact that the token will hit a mature market of KiK is encouraging, besides, the founders promise to start ICO only when everything is ready. A large and loyal market undoubtedly makes KiN a promising altcoin.
Market and Industry Review
The mobile messengers’ market is growing rapidly. According to eMarketer1 research there were 1.4 billion mobile messengers’ users at the end of November 2015 whereas the forecast for the end of 2019 is 2.2 billion users. Therefore, the growth rate is about 12% a year.
As the mobile internet quality improves and prices on gadgets fall, the number of mobile messengers’ users will continue to grow while the SMS messages will become less and less popular.
A lot of messengers are similar to each other. KiK though has its unique features: it doesn’t require a mobile phone number, so users can remain anonymous. This makes the messenger quite popular among teenagers of the USA and Canada. By the way, it’s the teenagers who are KiK’s core audience.
Technical Aspects of the Platform
The developers have not disclosed technical details of the project yet. White Paper says that a special document is to be prepared soon. As ICO start date is not stated yet, the team has time for that.
KiN will be an ERC20 token on the Ethereum blockchain. However, because of a few limitations of the Ethereum blockchain, the team will implement a number of improvements. This is what they write about them:
«Kik will initially implement a semi-centralized hybrid on-chain and off-chain Transaction Service for scalable interactions with the Kin cryptocurrency. At the core, the transactions in Kin will be settled on the Ethereum blockchain. However, the Kin Foundation will develop and host a centralized off-chain ledger with an API available to all digital service partners. This will (1) improve user experience due to latency, (2) avoid network fees when transacting between users, and (3) avoid stress on the public network due to large transaction volumes».
The project’s website contains an exemplary good White Paper. It is written clearly and simply, and after having read the document, one would definitely think: “These guys know what they are doing!” The document is of evangelical nature as the founders create a whole new ecosystem and want as many people to get interested and excited about this idea as possible.
Token: KiN Starts: unknown Ends: unknown Price: unknown
Crowdsale pool: 10 000 000 000 000 KiN
The distribution structure:
- 10% - will be sold during ICO
- 30% - will be used to finance KiN Foundation, the company that manages the ecosystem
- 60% - will be reserved in KiN Rewards Engine
KiN Foundation is a non-profit organization that manages KiN Ecosystem. Rewards Engine is a main source of support for KiN Ecosystem. Basically, this part of the system manages a smart contract which holds 6 trillion KiN tokens. Each year 20% of the remaining tokens in this pool will be distributed among KiN Foundation partners. This is believed to stimulate them to participate in the ecosystem. The distribution mechanism has not been revealed yet, but it probably will be in additional documents.
The partners are suppliers of the services inside the system. White Paper suggests several examples of goods sellers, media content creators, VIP groups’ administrators, etc.
KiN token is a cryptocurrency and the base of KiN Ecosystem. Its owners can use it as money to pay for the services inside KiK. There are no additional dividends or special rights.
Plans of the Project Development
In terms of this project the project development is equal to the development of KiN Ecosystem. For the ecosystem to work successfully it is necessary to build a smooth mechanism of attracting and rewarding the partners – service suppliers. KiN Foundation will serve this purpose through monitoring the supply of KiN in the market, the work of Rewards Engine, as well as marketing and operational expenses.
Due to the fact that KiK messenger has operated since 2009, the project team is well-known in the market:
Ted Livingston - Founder and CEO, Kik
Ted Livingston is the founder and CEO of Kik and leads the vision for Kin. Founded in 2009, Kik is headquartered in Waterloo, Ontario, and has raised $120.5 million from investors including Tencent and Union Square Ventures. Ted maintains an active interest in the University of Waterloo’s Velocity Fund, a startup accelerator he conceived of and first funded. He was also named one of Fast Company’s Most Creative People In Business in 2017.
Peter Heinke - CFO and COO, Kik
Peter is the chief financial officer and chief operating officer at Kik. He is leading compliance for the token sale and development of the corporate structure for Kin and the Kin Foundation. Before joining Kik, Peter spent more than 20 years leading finance, operations, and strategy for both established and startup companies in the media, technology and transportation sectors. Peter lives in Ontario.
Eran Ben-Ari - CPO, Kik
Eran is the chief product officer at Kik and is leading how Kin will be integrated into the Kik community. Prior to joining Kik, he was the vice president of products at Rounds, an Israeli-based communications company that joined with Kik in the beginning of 2017. Eran brings startup and academic research experience to Kik, where he oversees product process, lifecycle, and strategy. Eran is in the final stages of completing his PhD from the Hebrew University’s School of Business Administration. He lives in Tel Aviv.
Dany Fishel - President, Kik Israel
Dany Fishel is the president of Kik Israel following the acquisition of Rounds, an Israeli-based communications company he cofounded and ran as CEO. He oversees the technical and product teams responsible for Kin and the Kin Foundation. Prior to Rounds, Dany was the cofounder of Kwakwa, a strategic web consulting firm. Dany also managed the contextual and behavioral advertising for 888 Holdings, generated tens of millions of dollars in yearly revenue to one of the world’s most popular online gaming entertainment companies. Dany is a decorated army sergeant, having commanded an elite paratroopers’ unit in the Israel Defense Forces. He lives in Tel Aviv
Erin Clift - CMO, Kik
Erin is the chief marketing officer at Kik and leads the teams responsible for connecting Kin and the Kin Foundation to partners, stakeholders and consumers. Prior to joining Kik, Erin was vice president, global marketing and partnerships at Spotify, responsible for consumer and business marketing, brand partnerships, and industry programs. Before joining Spotify, Erin spent 15 years in leadership positions driving marketing and revenue strategy at companies including Google, AOL and Oprah.com. Erin lives in New York City.
Dave Simons - SVP Engineering, Kik
Dave is the senior vice president of engineering at Kik and is leading the teams responsible for the technical architecture for the project. He joined the team in September 2016, bringing with him over 20 years of engineering and business experience from a variety of companies, including Points International, NeoEdge Networks, and AOL Time Warner.
Alim Dhanji - Chief People Officer and Chief Compliance Officer, Kik
Alim is the chief people officer and chief compliance officer at Kik. He’s responsible for global HR strategies to attract, develop and retain a talented team as well as overseeing user safety, privacy, and compliance programs for Kin. Alim has over 20 years of leadership experience in scaling companies globally through best-in-class people and culture strategies and building high-performance teams. Before joining Kik, Alim held senior executive positions at TD Bank Group, Citigroup and KPMG International.
The project received wide coverage in the media. A lot of publications came out with the heading “Blockchain goes mainstream”, which seems fair because KiK is the first successful IT business that has decided to make an ICO thus admitting a crucial part blockchain plays in a modern product development.
Practically every well-known blockchain resource mentioned the upcoming KiK ICO, as well as Bloomberg and Forbes. Besides, the interview with Ted Livingston was released by Reuters.
The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.