The Kin Foundation offers Kin grants to qualified teams and individuals that can successfully bring meaningful contributions to the Kin Ecosystem. Our grant program is increasingly becoming more popular and we have received dozens of applications. As a result of reviewing a variety of applications, here are some tips to ensure your next grant application has the best chances of being successful.
Tip 1: Determine why you require funding
Before you apply, consider the category of grant you are applying for. The Kin Foundation offers Strategic, User Jumpstart and Accelerator Grants. Determining the correct category and the ‘why’ first up helps you look at the bigger picture. The Kin Catalyst Fund is designed to support a variety of situations: from high potential early stage apps and services to larger established applications which can bring significant economic activity to the Kin Ecosystem. However the Kin Foundation is not a ‘VC’ firm that will cover the cost of building a business from scratch, fund operations in perpetuity, nor award grants on ideas or concepts alone, no matter how cool they are. Therefore make sure your application fits within the objectives of our grant program, and that you properly convey your business competence in proposing a budget.
Tip 2: Be clear about your Kin use case
We want to read about how your application or service uses KIN, what impact it will have on the ecosystem and your solutions to the challenges your application or service solves. Assume we do not know anything about application or organisation, so be detailed about how your application or service functions with Kin.
The value of your grant application will also increase if you can demonstrate how a grant will benefit other ecosystem participants,- think potential network effects. Some of our grant applicants have planned to offer part of their developing technology to the wider Kin developer community so others stand to benefit too.
This is arguably one of the most important aspects of a grant application. We love to see innovative Kin use cases that keep raising the bar on what’s possible, while at the same time creating sticky user experiences that contribute to the economic well-being of the ecosystem. The Kin cryptocurrency’s key role is to lubricate a true economy, and remember that to earn valuable benefits from the Kin Rewards Engine, you need to design your Kin use cases to maximize a variety of transactions that will ultimately result in higher active users and higher balances in their wallets. Your users must be compelled to earn, save or spend Kin, on a daily / weekly basis.
Tip 3: Highlight community or social proof support
Having more users is a key contributing factor to our decision-making.. If you don’t have many users yet, then tell us more about who’s supporting what you’re doing.
The value of your grant application can increase with inclusion of some social proof via community support, statistics, and evidence of its impact or market reach such as early sign-ups. If you need the support of a third party organisation for your application or service to be operable or successful, then showing us evidence that you already have won them over will make your application stronger. Community love can go a long way, as it’s a signal for future pent-up demand for your application.
Tip 4: Outline goals and what the Kin Ecosystem would get in return
Take a realistic view on where your project is today, and where it might be in 6, 12 or 24 months from now. Make sure the amount you are asking for is a realistic fit for the opportunity you are presenting.
If you are including proposed milestones or benchmarks in your application to evaluate your success, make them clearly defined and be ready to present a compelling case on why grant funding is required to support you to achieve them.
You should also make sure to outline what the return on investment would be for the Kin Ecosystem, in exchange for a grant from the Kin Foundation Reserves. We do not take distributing Kin lightly, so be specific as possible. The better you justify the grant request, the more likely we are to say yes—make us want to say yes! In our experience, using grants as a carrot is short-sighted. Granting users with Kin is not a bribe, nor is it a guaranteed measure of success. Distributing Kin to your users must enable them to take some valuable actions, which starts the fly-wheel going for doing more, and you should be able to monitor these behaviors so you can learn and adjust accordingly.
Tip 5: Show your passion for your project and for Kin
Finally, show your passion for Kin through your writing. If we feel inspired and excited by your plans then we are more likely to move in your direction. Showing your passion is also reflected in how clear you are about your plans, and how you describe the importance of what you will be doing.
At the Kin Foundation, we want a thousand flowers to bloom. We approach each application with an open mind, as our intent is to help and support the best applications that we see. So, help us in making our job easier as we try to process more applications than we have in the past, by doing your best to create a compelling request. Growth is a common objective we share with our community and ecosystem, and we look forward to collaborating even further to achieve that goal.