The creators of chat app Kik and therefore the kin cryptocurrency ar creating a multi-million dollar bet that crypto tokens will facilitate the firm produce and legitimize digital economies.
The Kin Foundation on Wed began acceptive applications for the Kin Developer Program, which can pay to twenty five developers a complete of nearly $3 million to form and maintain freelance “kin economies” over a six-month amount.
Developers accepted into the program can every receive up to $116,000 — paid go in a mixture of USD and kin tokens — for making apps that ar supported the Kin scheme SDK and supply users with in-app opportunities to earn and pay kin in digital environments. they're going to conjointly receive personal mentorship over the course of the program.
“Up yet, developers haven’t had access to a consumer-ready cryptocurrency which will simply be integrated into thought apps and platforms,” aforesaid Ted Livingston, business executive and founding father of Kin and Kik. “
The Kin Developer Program offers simply that, and it conjointly financially incentivizes developers to form natively with Kin, transfer U.S. nearer to our goal of changing into the foremost used cryptocurrency within the world.” The six-month program can have 3 phases, and taking part developers can earn rewards for meeting specific benchmarks.
To receive the complete $116,000, a developer should integrate kin into associate approved app by early Gregorian calendar month, onboard 10,000 monthly active wallets (MAW) by the start of Jan, and expand that network to a minimum of 50,000 yap by April one.
As CCN reportable, the kin token recently went board the Kik app in a very closed beta, permitting testers to earn kin by finishing microtasks and pay them on premium app customization things.
Notably, developers don’t essentially need to interface their comes directly with the Kik app, although doing thus would possibly create it easier to succeed in the 50,000 yap minimum.
Kik, that raised $98 million through last year’s much-anticipated initial coin giving (ICO) for kin, is one among several cryptocurrency creators to use its crowdsale take to incentivize the event and adoption of the token.
EOS creator Block.one, that raised quite $4 billion through the token’s ICO, has committed $1 billion to risk capital funds designed to market development on the Greek deity platform.
Meanwhile, Ripple — that failed to technically produce XRP however remains its sole institution — has created a $300 million “accelerator” program to reward money services businesses WHO integrate the token into their payment flows.
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