Kin Announces Developer Program to Build Out Kin Ecosystem
Coming off its $100 million USD ICO in 2017, the Kin ecosystem has announced that forty teams have been selected to participate in its inaugural developer program. These developer teams will be rewarded with up to $60,000 each to launch Kin-related applications or integrate Kin into an existing consumer app.
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Prioritizing the Developer Community
Tucked away deep in the whitepapers of many ICO projects were details of what the teams planned to do with funds after they had raised them. Promises were made to build a strong developer community and real-world applications.
Now Kin, the cryptocurrency from the creators of the Kik Messenger, are one step closer to delivering on those promises. The Kin Foundation, the governance organization behind the Kin cryptocurrency, announced this week it has accepted 40 projects into a six-month developer program that will incentivize consumers to build consumer applications using Kin in gaming, e-commerce, health, and beyond.
Dany Fishel, President of Kin, elaborated on his excitement regarding the inaugural developer class:
“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.”
The forty teams that were selected from the +200 applications will aim the Kin software developer kit at new functionalities and will work to debut their use cases on a demo day in October of 2018.
The three phases developer program boats close to nearly $3 million for developer participants although this group of developers will only be eligible for up to $60,000 in incentives over the six-month developer program window.
Toward New Use Cases
Kin isn’t the only team to announce massive developer funds hoping to spur adoption. Cryptocurrency platform Blockstack, a decentralized internet play, announced in March 2018 a $25 million signature fund to build out an application ecosystem.
Despite cryptocurrencies’ massive 2017, the bear market of 2018 has made many investors question how big are the war chests crypto teams are sitting on. With their latest move, Kin is showing they’re ready to spend to actualize the kinds of use cases they would like to see in their ecosystem.
Whether that will be enough, and how successful these Kin applications will prove, remains to be seen. Still, the project pushes ahead for now.
Bitsonline will keep our eyes on these app teams as their work progresses.
Kin raised $100 million in their token sale. Do you believe a $60,000 incentive for Kin developers and its $3 million developer fund are enough to motivate builders? Tell us below.
Images via Pixabay