Launches Kin Staking Program With 15% APR
Today, leading cryptocurrency exchange Bitrue has announced the shortlisting of the KIN token to be the first project from the Solana ecosystem to go through premium listing, signaling increased support of the Solana ecosystem. The upcoming KIN Listing will consist of a significant KIN Staking Program and will be the first coin that users can vote on for an exchange listing as part of a new feature named BTR Voting.
Along with KIN being recognized as the first Elite token on the Solana chain, Bitrue is launching a KIN token staking program, offering 15% APR for Kin holders. This exclusive staking program will offer passive earnings returns on KIN Token locked deposits, on a limited first come first serve basis across a fixed maximum pool cap of 100 Billion Kin.
Bitrue has spent the last several months identifying and approaching young projects that it believes have the highest potential to be successful over a five year timeframe. A large number of these projects have been building on the Solana chain, with Kin being a clear standout due to its massive community, scalability for mainstream user experiences & established foothold as a significant project within the Solana ecosystem.
“We are particularly excited about the KIN staking program on Bitrue, offering 15% APR for users who wish to lock their KIN tokens. Staking has been a popular feature requested by our community,” says William Mougayar, Executive Chairman of the Kin Foundation.
Recently, Kin completed its migration to the Solana Blockchain, now accounting for close to 60 million wallets on the ecosystem – Solana’s largest number of accounts by far.
“We view support for the Solana blockchain as crucial, as there are so many fantastic up and coming projects within this ecosystem. Starting with KIN, our users will now have the power to bring these coins to Bitrue through their votes,” says Adam O’Neill, Chief Marketing Officer of Bitrue.
BTR Voting is a governance feature whereby holders of the platform token (BTR) have the ability to contribute to the listing of various projects in a more fair, efficient and secure manner by utilizing their BTR stake, as opposed to social media voting which is subject to to disingenuous engagement from outlier actors or bots. It is expected that by decentralizing the decision making process, the projects that successfully land on Bitrue will be of a higher value and interest to the real users and supporters of the exchange.
Interested users will have 48 hours to cast votes using BTR as a locked voting token, and will earn a proportional amount from a pool of 500 Million Kin when the coin gets listed successfully.
“BTR voting will ensure that the decisions that are made about Bitrue’s future are made by those who have a real genuine interest in the company. While we’ve been soliciting community votes on coins for a long time already, this new voting feature will make the process significantly more fair, secure, and will bring further value to our token BTR,” continued Mr. O’Neill.
BTR Voting, with the KIN token present as one of the first eligible coins along with the exclusive Kin staking program, will launch July 28th. It will be available exclusively on the Bitrue app. More details on this program will be revealed in the next few days, following the successful vote.
Launched in July 2018, Bitrue is a diversified cryptocurrency exchange with support for trading, loans, and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. They have offices worldwide and continue to develop new features at a rapid speed to fully service the new waveof the digital economy. Find more information at www.bitrue.com.
Kin is a decentralized cryptocurrency purposely designed to easily integrate across Mobile and Web Apps, with a built-in incentive model that rewards developers for increased usage. With Kin, Apps get paid for creating compelling cryptocurrency-based user experiences where greater engagement results in shared economic benefits for users and developers. Today, the Kin ecosystem boasts 60 million wallets, and has distributed over $70M in rewards across 60+ apps since its inception in 2017. Kin is an SPL token on the Solana blockchain, enabling consumer-scale apps to transact swiftly, with minimal-to-no fees. Learn more at www.kin.org.