You may have never heard of Kik, but she is known to have created Kik Messenger, an application for sending messages just like in WhatsApp. However, the creators of the messenger decided to bet on something new: a virtual coin.
During an event in China, Ted Livingston, CEO of Kik, announced that the company is working on Kin. It should work more or less as we see with Bitcoin, and the company's idea is to use a system called the initial money offer, in which it wants to pass 10% of the total float to the public.
Regarding the remaining amount, it was mentioned that the plans are to maintain 60% of the total controlled under the Kin Foundation (responsible for the management of Kin), and the remaining 30% would be maintained by Kik to pay developers and finance business of the company.
Another important detail is the fact that Kin will not be sold for real money. Instead of using this system, the team responsible for the currency opted to give users the possibility of exchanging Bitcoin and Etherium for the new offer (which may be a good option for the company, since it ends up making a little more profit in the process ).
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DropNews Team
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