WATERLOO, Ontario, Aug. 15, 2018 /PRNewswire/ -- The Kin Ecosystem Foundation, the nonprofit governance organization for the cryptocurrency Kin, today announced the selected participants of its inaugural Developer Program. Due to the volume of talented developers who submitted high quality applications, the foundation has accepted 40 projects into the program. The initiative offers developers who successfully launch and grow a Kin-integrated app over a six-month period financial incentives of up to $115,000 (400M KIN, $60,000 USD).
More than 200 applications were received from developers in 38 countries around the world. Of the submissions accepted into the program, approximately 40 percent of proposed use cases plan to integrate Kin by adding a new feature into an existing consumer app. Two such apps are Nearby, a popular social network for meeting new friends, and Vent, an emotion sharing platform at the forefront of its field.
"The Kin Developer Program allows us to harness the creativity of the global developer community to achieve our goal of becoming the most used cryptocurrency in the world," said Dany Fishel, president of Kin. "We received proposals that plan to integrate Kin in new and exciting ways, and we are eager to work with these developers to build real consumer use cases of cryptocurrency."
"Cryptocurrency has the potential to fundamentally change the way developers build consumer apps," said Brian Hamachek, co-founder of Nearby. "This program gives us the opportunity to use a leading cryptocurrency and learn from the experts in the space, while being compensated for our efforts. We're excited to create new use cases for Kin that add to the growth of the Kin Ecosystem."
A selection committee, comprised of executives and team members from Kin, qualified submissions based on several factors, including the nature of the suggested use case, experience, skills, and background of the team or individual applying, and the likelihood of reaching the program's milestones. The 40 projects will integrate the Kin Ecosystem software development kit (SDK) into new and existing apps, spanning the chat, gaming, productivity, networking, e-commerce, content sharing, health, and education categories.
All participants will attend an educational, web-based kick off session, and they will be supported by the Kin developer team throughout the program. Apps must be ready for presentation during a virtual demo day on Oct. 2 in order for developers to receive their first incentive of 50M KIN (value of $7,000 USD) and $15,000 USD.
Kin will continue expanding its developer tools to make it easy to integrate Kin into new and existing consumer apps. A self-serve Developer Platform is being built to allow more developers to create experiences with Kin and is slated to launch later this year.
To learn more about the selected projects, please visit Kin Blog for the full list of participants.
*Kik Interactive, Inc. has entered a management services agreement with the Kin Ecosystem Foundation to launch, among other things, the Kin Developer Program.
About Kin Developer Program The Kin Developer Program empowers developers to create meaningful experiences in consumer applications using the cryptocurrency Kin. The three-phase initiative offers financial incentives totaling nearly $3M for accepted participants who build consumer applications using the Kin software development kit (SDK). For more information, please visit http://www.kinecosystem.com/dev.
About Kin Ecosystem Foundation The Kin Ecosystem Foundation is a Canadian nonprofit corporation established for the governance of the cryptocurrency Kin and is tasked with growing an open ecosystem of digital services. The foundation will oversee the Kin Ecosystem on matters, including development of the Kin Rewards Engine, membership, security, and the ecosystem's transition to a fully decentralized model that operates independently of Kik. For more information, please visit http://kinecosystem.org.