Bitquery sorted out the volume of transfers on Solana, and wrote, “more than 75% of the transfers on Solana is for its native coin SOL, and after than Kin and USDC with more than 170 million transfers.”
We propose a minor update to the current KRE that protects the KRE from a vulnerability of parked accounts with large balances that appear to be outliers. This is a minimal change and will not require any changes from apps.
This past month, Kin has made a significant leap towards the evolution of its ecosystem via further legal clarity that the Kin Token is not inherently a security, added support for Kin on MEXC, a global exchange with millions of active users worldwide, welcomed Jesse Cecchetto to lead marketing communications, completed developments surrounding Kin SDKs, saw new Apps join Kin, selected 5 winners from the Solana Hackathon, and was mentioned as a key proof point for Solana’s growth in a Motley Fool article.
Horizons Law, a U.S.-based law firm specializing in blockchain and cryptocurrency projects, has concluded that transactions related to Kin tokens currently are not inherently “securities” transactions under the Securities Act of 1933, Securities Exchange Act of 1934, and subsequent guidance issued by the SEC or other relevant authorities.