Kin Newsletter – August 2021

Written by: Jesse Cecchetto

Marketing Communications Lead at the Kin Foundation.

August 11, 2021

This past month, The Kin Foundation has focused on improvements to the stability of the Kin Rewards Engine, via a proposal aimed at improving the KRE’s resilience to large parked accounts (exploit fix), additional liquidity choices with the successful listing of Kin on cryptocurrency exchange Bitrue along with a 15% APR staking program, and highlighting top earners in the Kin Ecosystem as part of a weekly KRE content series.

With the past month’s progress, Kin comes closer to creating a better digital future with developers and users at the center.

Apptopia has recently integrated the tracking of Kin SDKs into their system, enabling subscribers to track and monitor usage of Kin across the Google Play and Apple’s App Store. This integration has revealed that Kin is the #1 cryptocurrency SDK by number of installs for both Android and iOS.

An improvement for the Kin Rewards Engine, which prevents potential exploits of large parked accounts, was proposed and is scheduled for implementation.

The Kin Ecosystem totalled 15.7M total transactions, averaging roughly 525K on-chain (Solana) transactions per day among 18 total apps during the month of July.

The Kin Ecosystem will now utilize the standard derivation path used by Solana, which offers more freedom, and a better guarantee of support from different wallet apps. A comprehensive announcement with detailed instructions will be shared in the coming weeks. Stay tuned on Twitter to keep in the loop.

Kin Unity & Flutter SDKs are now in private beta, with all other SDK’s fully available and in-use today. 

As part of the Kin Foundation’s renewed strategy to support community artists & ecosystem app developments, we’ve revitalized the KINstagram which will be chock-full of community art, memes, videos and more!

Kin is now available to trade on the Bitrue cryptocurrency exchange, after it was the first project from Solana to be shortlisted as part of their new BTR voting feature.

Attention: All ERC-20 Kin Holders!

Just another reminder from us, if you are holding the older and original version of Kin issued on the Ethereum blockchain, the token swap went live in May 2021, and it is necessary to swap your tokens to KIN SPL as the ERC-20 KIN is no longer supported. If this affects you, then see our previous announcement with instructions here. This is a time limited swap so do not miss the opportunity. We will make further announcements when a closing date is set for the swap. 

For more information on all of these developments and more, continue reading this month’s newsletter:


Content With Links:

Kin Ecosystem – Monthly Milestones

As the Kin Foundation aims to grow the number of Dapps within the ecosystem towards the shared goal of a better digital world with developers and users at the center, we’ll be highlighting monthly milestones to showcase progress and achievements.

During the month of July, the Kin Ecosystem totalled 15.7M total transactions, averaging roughly 525K transactions per day among 18 total apps. 

Along with total transactions, Monthly Active Users (MAU) & Active User Balances (AUB) continue to be a key indicator of the Kin Ecosystem’s growth and user activity as we continue to monitor the prosperity of our in-app economy. 

Kin closed the month of July with roughly 1.03 million monthly active users and over 33.4 billion active user balances.

Average MAU – July 2021: 1.03+ million

  • *MAU (monthly active users) is the number of users with at least one transaction in a month.

Total AUB – July 2021: 33.4+ billion

  • *Active User Balances are the summed balances of all Active Users in an app at the end of a given day

Kin Ranked #1 Cryptocurrency SDK for Mobile by Apptopia

Apptopia has recently integrated the tracking of Kin SDKs into their system, enabling subscribers to track and monitor usage of Kin across the Google Play and Apple’s App Store. This integration has revealed that Kin is the #1 cryptocurrency SDK by number of installs for both Android and iOS. Kin can now be found in the “Top SDKs” section of Apptopia, with 23 Total Installs to date.

As part of its ongoing strategy to support the Kin Developer Community, the Kin Foundation has partnered with Apptopia to reach thousands of developers on an ongoing basis and monitor the ecosystem’s overall progress and stats. 

This partnership solidifies Kin as an industry leader when it comes to cryptocurrency integration on mobile platforms, showcasing the power and ease of integrating the Kin SDKs.

Kin Improvement Proposal 3.0.2

The Kin Foundation issued an improvement for the Kin Rewards Engine, which aimed at improving the KRE’s resilience to large parked accounts (exploit fix). This proposal introduced and addressed the vulnerability of parked accounts. A parked account is a large account with a disproportionately large balance that could be used to game the AUB metric.

This improvement only affects extreme outliers of distribution of wallets, affecting approximately 8 accounts in 4 apps from a list of 375,062 active users accounts during the considered June period. This accounts for roughly 0.000021% of user accounts being affected, so it fixes the long tail of rare corner cases

Following approval from the Kin Foundation, this proposal is scheduled for implementation.

Bitrue Expands Solana Support With KIN Token

Cryptocurrency exchange Bitrue, announced the shortlisting of Kin to be the first project from the Solana ecosystem to go through premium listing, signaling increased support of the Solana ecosystem.

As part of Bitrue’s new BTR Voting feature which launched on July 28, Kin received overwhelming positive support and successfully met the BTR goal within an hour of the 24hr timeline. 

KIN/USDT trading is now available through Bitrue, along with two iterations of 30-day 15% APR lockup investments with a total cap of 100 billion Kin, allowing Kin holders to gain passive earnings on a first come, first serve basis.

Kin Rewards Engine – Monthly Highlights

Kin is the easiest and fastest path for developers to build innovative cryptocurrency-based user experiences that result in greater engagement, and shared economic benefits.

With Kin, developers are financially rewarded based on the compelling experiences they’re creating, while users also benefit from the value they bring to the platform, via engagement, interactions or content creation. The end-result is a win-win scenario that aligns developers and users along the path of shared economic benefits.

As part of the Kin Foundation’s renewed strategy to empower developers via economic benefits from the Kin Rewards Engine, along with encouraging prospective developers to join the Kin Ecosystem, we’ve started the “Weekly KRE Payout Snapshot”

KRE Top Earners – Monthly Highlight (June 27 – July 31, 2021)

Along with this weekly content series highling top earners in the Kin Ecosystem, we’ll be highlighting the monthly KRE top earners as well as other key milestones to showcase the progression of Kin and the Dapps within the ecosystem.

Help Kin create a better digital world by sharing this newsletter with any of your contacts who may be interested!


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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