WATERLOO, Ontario, July 11, 2018 /PRNewswire/ -- The Kin Ecosystem Foundation, the nonprofit governance organization for the cryptocurrency Kin, today announced the launch of the Kin Developer Program, an initiative that will offer up to 25 select developers an aggregate of approximately $3M in fiat currency and Kin for successfully launching their own Kin economies over a six-month period. Developers will be equipped with the necessary tools for creating Kin-powered experiences, including the Kin Ecosystem software development kit (SDK), and will also receive mentorship as they progress through the three-phase program.
"Up until now, developers haven't had access to a consumer-ready cryptocurrency that can easily be integrated into mainstream apps and platforms," said Ted Livingston, founder and CEO of Kik, and Kin Ecosystem Foundation board member. "The Kin Developer Program offers just that, and it also financially incentivizes developers to create natively with Kin, bringing us closer to our goal of becoming the most used cryptocurrency in the world."
Applications to participate in the Kin Developer Program can be submitted through Aug. 10, and up to 25 submissions will be accepted into the program on Aug. 15. Participants will be required to build and launch a consumer app that integrates the Kin Ecosystem SDK or uses the SDK to offer new features in an existing app by Oct. 2. These apps must create native opportunities to spend Kin in digital environments, and developers can provide users with in-app opportunities to earn Kin or the out-of-the-box earn experiences included in the Kin Ecosystem SDK.
Participants will have the opportunity to earn a total of $115,000 USD (400M KIN, $60,000 USD), which will be paid as the three-phase program is completed. For each phase, participants must achieve certain goals in order to be eligible for the full amount of the incentive:
- Phase 1 (ends Oct. 2): Approved app that integrates the Kin Ecosystem SDK for spending opportunities goes live to the public. Participants will receive 50M KIN (value of $7,000 USD) and $15,000 USD.
- Phase 2 (ends Jan. 1): App has 10,000 monthly active wallets (MAW). Participants will receive 100M KIN (value of $14,000 USD) and $20,000 USD.
- Phase 3 (ends April 1, 2019): App has 50,000 MAW. Participants will receive 250M KIN (value of $34,000 USD) and $25,000 USD.
The application period for the Kin Developer Program opens today, and submissions will be accepted through Aug. 10. To read the guidelines and apply, please visit http://www.kinecosystem.com/dev.
*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.
Kik Interactive, Inc.
SOURCE Kin Ecosystem Foundation