[Disclaimer: The following opinions and thoughts are mine only. I am not affiliated to Kik Inc. or to Kin Foundation]
If you are reading this article, there are chances that you are a KIN enthusiast and/or KIN holder. Congratulations and thanks for reading those lines.
If you still do not know what the KIN project is trying to achieve, please read this article from Ghosttype01 and two other ones that I wrote some time ago to give you some background.
- Why KIN will be a 100b network, Ghosttype01, https://medium.com/@ghosttype01/why-kin-will-be-a-100b-network-7fce59a08cfe
- Glimpse of new horizons, Polype01, https://medium.com/me/stats/post/919b06ea2c45
- How can KIN Currency Reach 1 Billion Users?, Polype01, https://medium.com/me/stats/post/ea9bfa1a79a9
In essence, KIN’s purpose and goals is to become the most-used cryptocurrency for the digital world. The Kin Foundation and his newly-appointed Executive Director Alim Khamisa might give more details about the strategic vision of KIN for next upcoming years in the next AMA.
https://www.reddit.com/r/KinFoundation/comments/lb5dqy/kin_foundation_ama_w_alim_khamisa_executive/
KIN will be used within the Kin Ecosystem as a digital currency where it will be earned and spent. Will KIN become something “bigger” than we currently think and be used as a currency not only for digital but also for real goods and services? Will KIN be used also in various financial services and also as a means of fast and secure payments like projects such as XRP, XLM…?
As a KIN enthusiast, investor, supporter and holder since March 2018, I want KIN to succeed and I want to see it used fully and daily by millions (billions) users in the world. I believe in the technology, the vision and see the tremendous perspectives of KIN (especially after it was totally cleared from the SEC). I love the idea of a common, global digital currency that can be easily and quickly used by so many people in the world. I like the positive economic perspectives and the value that KIN can bring to entrepreneurs who are ready to build Applications (or other tools) integrating KIN.
As a KIN holder, I can say that I am not a priority for the Kin Foundation. Why? Because, on the long run, the purpose of KIN will be to used, earned and spent daily by the users. The Kin Foundation has no interest in having too many hodlers not using KIN. If everyone would hold their KIN and not spend them, KIN’s goal and purpose would be completely missed.
Of course, in order to incentivize people to use and spend KIN, more partners will need to join the KIN Ecosystem and they will have to propose relevant and meaningful spend (and earn) opportunities in order to give the people the need and the urge to use their KIN. (See my previous article Features of a KIN Ecosystem App, https://medium.com/me/stats/post/2f2b5cbe19e7 )
Being a big KIN holder can also be a potential threat for the growing KIN economy as most of big holders can sell their KIN bags whenever KIN price is increasing and as a consequence, tank considerably the KIN price as there is still low liquidity and few big exchanges listing KIN currently. We can see periodic price dips when some Ecosystem Apps sell the KIN they earned from the KRE and this phenomenon can be also amplified when KIN bag holders sell off part of their bags too. In the future, with more exchanges listing KIN, any dump from investors or KIN Ecosytem Apps should be mitigated and would be less impactful on price. Price is obviously important for investors but it is also very important for the Ecosystem overall. The value of KIN needs to increase and be high enough to give a good value to the KIN developers and earners.
From a KIN holder and believer perspective, if I want to sell someday my KIN (not any soon, you can trust me on that), I would not like to tank the price of KIN by doing this. Hence, I am certain that KIN Holders will have a solution in the future to sell directly their KIN either to Ecosystem Apps, to the KIN Foundation or to third-parties outside the market (Over-the-Counter) to avoid price crashing.
- KIN Holders selling directly their KIN to the KIN Foundation. The KIN sold will go directly to the KIN KRE pool of the KIN Foundation.
- KIN Holders directly selling their KIN to the Ecosystem Apps. The KIN sold will fuel the earning features of the Ecosystem Apps
- KIN Holders selling their KIN to a third party (a KIN/crypto bank or an investment fund)
William Mougayar said that DeFi is definitely on the roadmap and I am really curious and to see what he will unveil.
“We are analyzing some options. DeFinitely on the roadmap” — William Mougayar, Twitter (24/01/2021) https://twitter.com/wmougayar/status/1353474570158800897?s=20
This statement is really a huge bomb to me and I will explain you why.
It gives more perspectives to KIN holders and investors. It gives now an incentive to buy more KIN as DeFi future services could reward KIN investors for the amount of KIN they have. This means that buying and keeping KIN for DeFi financial services becomes highly interesting and this will, as a consequence, impact positively the speculative demand for KIN. It would give KIN the status and the credibility to fully be a real currency.
William Mougayar’s tweet is bringing new possibilities for KIN. Maybe it would be possible to lend KIN to another person or entity and get compensated from the KIN loan. Maybe a kind of staking will be also made available? (Even if staking as such would not be positive for the Kin Ecosystem overall now as it would increase the supply pressure). Crypto Insurance services? etc.
This week, we saw the announcement of Playtoshi App by Cryptobarbossa. Playtoshi announced some kind of staking features with KIN. I am very excited to see concretely how this will work.
Will we see other Ecosystem Apps proposing additional features and incentives for KIN holders? Again, time will tell.
There have been a lot of news and updates about KIN lately and I am really looking forward for Alim Khamisa’s AMA video on Feb 25th and on future update from William Mougayar about Exchanges.
Exciting times! Thanks for reading.
Polype01
