Kin Foundation Publishes Second Annual Transparency Report

Written by: Kin Foundation

A non-profit organization dedicated to growing the reach and impact of the Kin Ecosystem.

March 17, 2022

Providing an Open View of the Kin Foundations Activities in 2021

The Kin Foundation, a non-profit organization that oversees the allocation and distribution of the Kin cryptocurrency, is pleased to publish its second annual Transparency Report, for the year ending 31 December 2021.

This report provides an open and transparent view of the Kin Foundations activities, including the allocation of the Kin Reserves, ecosystem growth overview, catalyst fund grant initiatives, strategic direction, community advocate initiatives and more.

Since the inception of Kin in 2017, the Kin Foundation is consistently adapting and pivoting to support the growth of the Kin Ecosystem in a rapidly evolving cryptocurrency industry. Most notably, the migration from the Kin Blockchain (a fork of the Stellar protocol) to the Solana Blockchain which is more suited to the transaction speed and scalability performance that Kin requires to grow and sustain. 

Since the successful migration of over 60 million wallets to Solana in late 2020 (accounting for the largest number of wallet accounts on Solana by far), Kin quickly became the most held SPL token on the Solana Blockchain in terms of the total aggregate number of holders and holders of recently active wallets.

Kin has amassed an ecosystem of thousands of developers and users from 117 countries, all with the same passion for a decentralized, open-sourced economy for everyone to benefit. While today, the Kin Ecosystem is home to a few dozen apps, the ecosystem has already enabled over 65+ million user wallets, and distributed more than $70m USD in rewards across 60+ apps since its inception. Without a doubt, Kin is one of the most active SPL tokens on the Solana Blockchain with respect to total holders, onchain transaction activity and transfer volumes.

William Mougayar, Executive Chairman of the Kin Foundation

We look forward to the continued growth of the Kin Ecosystem and community over the next year as we look to onboard even more apps with various use-cases across mobile, web, NFTs, gaming, and more as part of a thriving Web3 ecosystem fueled by the decentralized cryptocurrency, Kin.

The full Transparency Report can be found here.


About Kin

Kin is a decentralized cryptocurrency purposely designed to integrate easily across mobile and web apps, with a built-in incentive model that rewards developers for increased usage. Apps built with Kin 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 Kin.org.

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