On behalf of the Kin Foundation, I’d like to provide a roadmap update, and a look-forward to future activities and priorities.
Kin’s Value Proposition remains unchanged, as we continue the quest to remain one of the easiest and fastest paths for developers to build innovative cryptocurrency-based user experiences inside their apps.
STRATEGY & PRIORITIES RECAP
Let’s review the previous priorities, and where we think we are, in regards to achieving them:
- Growing the # of Apps, Developers and Users on Kin
- This continues to be a top priority. While there were 13 live apps in July 2021, the Kin ecosystem is very close to hitting 30 apps. However, the number of Monthly Active Users has not grown as much as we’d like to see, although 5 Million Active Users were recorded in the past 6 months across all apps. This means there is significant churn, and a retention rate that could be improved. To help remedy this weakness, we have been targeting grants to reward specific use cases that increase MAU’s and/or yield better use cases with higher retention and repeat usage rates. All apps are encouraged to think deeply about the quality of their use cases, pertaining to how they contribute to a real vibrant economy of activity.
- Enhancing the entire developer’s journey to be easy, pleasant and seamless
- Supporting our Community of Advocates
- Increasing our Brand’s awareness via the right communications and positioning
- We have been quite regular in the past few months via blog posts and tweets, and published a series of 3 sponsored posts on Decrypt that articulated well Kin stories and benefits for developers. However, we will be further updating our positioning with new messaging and a sharper articulation. We are currently undergoing a brand strategy revamp that will ultimately result in a refreshed set of market messages and a new website to be revealed around the end of June. (more on this initiative towards the end of this post) That said, keeping Kin’s brand out there is not just a Kin Foundation responsibility. It is equally (if not more important) to see more Apps promote Kin themselves. Furthermore, we’d love to see end-users promoting their usage of Kin and how they are benefiting from using Kin inside these great Apps.
- Progressing the decentralization and openness of the Kin ecosystem
- We made baby steps there, and we need to do more. Along that path, it was great to see the last KRE proposal being submitted by Freedom, a community member. A good discussion followed.
KEY PROJECTS AND INITIATIVES AND NEW ONES
Kin Developer Portal
We continue improving the Kin Developer Portal, and added an automated 4-week drip campaign for any new emails that sign-up. In terms of features, we also add the ability to view your own transactions for each App. We used to get a lot of requests asking “where is this Txn?”. Now you can check it directly via self-service.
We haven’t been able to kick off the “Kin Uber Explorer” that I mentioned last August. However, there is a new community-developed Kin Explorer that will be unveiled in the coming days. Stay tuned.
In parallel, we have been re-engineering our data ingestor, and that will lead to unlocking a lot more possibilities for data dashboards, off-chain data analysis and ecosystem stats.
Ledger Standard Derivation Path
We have already announced the end of support for MyKinWallet being December 2022.
We haven’t been able to release this tool yet, although there was a spreadsheet version with built-in scripts. We felt it wasn’t user-friendly enough, so we are changing this to a web tool, and it is currently being developed by an external developer. Stay tuned for that one. The vision is to allow any current or prospective App to plug-in usage numbers, and simulate the impact on their KRE in relation to other players.
We are still excited about the prospects of experimenting with on-chain voting, and we were waiting to see more maturation of capabilities around the base governance primitives that Solana library calls “governance” . Two of the ones we are following are the Squads and Realms projects. We hope to do something over the next 6-9 months in this area.
Kin Community Council and Kin Representatives
We haven’t made progress there. Nothing new, but we will need to further make gradual moves towards decentralized governance components.
The internal code name for this “next-generation Agora” is Mogami [name meaning]. That work started more than 4 weeks ago, and developers are making good progress. More on this, in the coming weeks. There will be several benefits and advantages to this new infrastructure capability over what Agora has given us so far, including native support for NFTs. Mogami will be more aligned with Solana latest standards and compatible with Agora.
We introduced SDK-less transactions, and that opens up a new market segment that wasn’t accessible before. Unity and Flutter are still delayed. We are looking for capable teams or individuals who can complete this work.
We still like to better understand the overall economic “cause and effect” variables on the KRE. We are going to work with an external economist/academic (with blockchain experience) who can give us an independent assessment about the strengths and weaknesses of the current KRE, given that we have a lot of data and experience with it so far. Please stay tuned for more progress in this area, with some results to be expected in the July timeframe.
We have been able to streamline and reduce the costs of Kin’s back-end technical support infrastructure, without compromising performance. Recently, we have switched to an external Solana RPC node provider. We will continue making step-wise changes in our back-end infrastructure keeping the goals of performance and openness in hosting choices in mind.
Kin Foundation’s Board of Directors
Nothing new there. We are still looking to add up to 2 new members, and I’ll be redoubling our efforts to find suitable candidates.
Our team is strong and holding at about 10. I will provide another update in a subsequent post on some minor updates in this area. We are still looking to add a senior/lead data architecture developer.
Brand Update and New Website
Some of you know that we have been working with an external brand strategy firm to refine, revise and uplift our messaging and brand identity. The challenge (and opportunity) is that Kin is many things to many people. Literally, economically or emotionally, Kin is a coin, a community, a value creation platform, money for the digital world, an ecosystem of branded apps, a set of app tools, a new way to monetize, an exciting project, and an ideal new world. Stay tuned for this new development that we hope will reinvigorate the Kin brand and result in a new website that will accurately express the elements of our value proposition in a way that’s inspiring and fresh.
As always, we welcome feedback, and are especially appreciative of all Kin ecosystem players- the passionate Kin community advocates, the app developers in the Kin ecosystem, and market influencers and supporters. Kin is strong because of your commitments, advocacy, beliefs and contributions.
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 65 million wallets, and has distributed over $70M in rewards across 80+ 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.