Messaging app company, Kik, plans to raise $125 million via its ICO, Kin. Kik has already raised $50 million from institutional investors, including the blockchain investment firm, Pantera Capital. They first announced their token sale in May and the initial offering is set to take place beginning September 12.
To read Kik's Kin Coin Whitepaper, click here or on the image below:
The following is from page 10 from their Whitepaper explaining how the Kik points experiment resulted in an average volume of 300,000 transactions per day for it's lifetime from 2014 through 2016, reaching 2.6 million transactions per day.
If you want to participate in their initial ‘Kin’ token sale, you will need to register here. Be pre-advised that you will be asked for personal information including your Ethereum address your passport or Social Security ID and you must register before September 9 as you must be registered at least 72 hours prior to the distribution event. This allows for the pre-registered to be ‘white-listed’ and able to take part in the sale by sending Ethereum to the dedicated Kin ICO address on September 12 (Get specific wallet details by clicking on MyEtherWallet or Ethereum Wallet ).
According to Fortune: Kik plans to mint a total of 10 trillion Kin tokens, selling a trillion to the public, holding on to 3 trillion for itself, and setting aside 6 trillion for a nonprofit that will manage a rewards program for loyal users. “It’s a new way to compete, it’s a new way to monetize, and it’s potentially a new way to exit as well,” Livingston says.
Kik's cap on the amount that individuals will be able to purchase cqan be calculated by dividing the $75 million allocation by the number of white-listed people. Tech Crunch reported that Kik will offer those registered a chance to any unclaimed coins after September 12.
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