"Kik has been a leading innovator in the chat space since the first million people signed up for the chat application in 2010. Kik was the first chat app to become a platform in 2011, and the first Western chat platform to integrate bots in 2014. Throughout 2015 and 2016, Kik also experimented with a form of digital currency on its platform, called Kik Points. As a company, Kik has been searching for a sustainable monetization model that does not compromise user experience or privacy. Rather than opt for mass display advertising or the selling of consumer data, Kik has decided to adopt a decentralized organizational model. Its goal is to encourage the development of a digital services ecosystem that is fair and open. Kik prefers to be a participant rather than a landlord in this user-first economy. To foster an ecosystem that is not only open and decentralized but also more compelling than its traditional counterpart, Kik must create a series of new products, services, and systems. Building a decentralized system is a complex process, and the transition to it must be done in a measured and responsible way over time. The following sections of this paper outline Kik’s plan for launching an entirely new platform: the Kin Ecosystem."
What we don't like:
Kik will give out a lot of Kin on it’s app. Users of Kik will receive Kin for posting content. At this point we don’t know how much content constitutes how much Kin. We can hope Kik doesn’t give enough Kin to users to satisfy their needs on the app. This will greatly increase the price on the secondary market. Kik writes about a dream of a full decentralized currency running through their program, however with the current supply and inflation schedule KiK will run more like a government with Kin as its currency. This may not be a bad thing, it may be the best way for in app ecosystems to run. Recently Kik announced that Kin will be only available to users 18+ this is a huge hit for Kin investors, with the majority of Kik users being under 18 years old.
What we like:
Kik is the largest company to join the public blockchain. It’s a test subject to see if in app currencies can be transitioned to cryptocurrency. The Kin ecosystem makes the perfect subjects. Users on Kin can create bots, charge for private groups, and even charge for creative content. Users can even tip kin to their friends during Chats. Kin already tested an in app currency traditional without the blockchain from 2014-2016 Kikpoints. Kikpoints was used on 74 million purchases. Based on this we can assume there is a demand for in app Kik currency. Kik is giving their users the opportunity to trade their in app currency for real world dollars, something no other app is doing.