Kin Foundation

Kin Foundation (KIN)

https://www.kin.org/

Confidence: 58%

58%

Kin Foundation (KIN) - Reviews & Ratings


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avatar Jason T. 107 rated: June 06, 2019 08:36:48

As of June 2019, the SEC has filed suit against Kik (parent company of KIN). Their long report is damning, you should read it. As much as I support crypto companies and would like open innovation, their claims against Kik seem very strong. (I'm not a lawyer though)

Kik pretty much was a failing business about to die but then they pivoted and did an ICO to get new funds to survive. The language they used during their ICO was also very bad in the eyes of the law. Because they talked about it being a great investment and pushed investors to buy their tokens to get rich in the future. This is exactly what the SEC doesn't want companies to do. So it sure seems like Kin will be doomed as an unregistered security and have to return money to investors and just die as a project perhaps.


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avatar CryptoBox 22 rated: April 21, 2019 09:40:55

The website looks interesting although getting adoption of popular cryptocurrencies is hard so it hard to see a purpose for another cryptocurrency running on Ethereum.  Ethereum has its own problems so its hard to believe any product running on ethereum can be a success.


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avatar Crypto Bear 48 rated: April 13, 2019 03:12:48

ICO performed by the KIK social media app. Their KIN token is supposed to be integrated in the KIK eco system to spark more crypto adoption by leveraging the millions of KIK users. The ICO raised close to $100 million which is a substantial war chest, but they failed to reach their $125 million target. A large part of the fundraise was contributed by large investors in a pre-sale. Token has been underperforming ever since, except from the late 2017 altcoin rally. Currently it is still an ERC20 token, but they are scheduled to migrate to their native blockchain, for which ERC20 token holders will need to do a swap, preferably before end of May 2019 from what I read. 


Github shows decent activity (in terms of quantity, did not look at quality). Team is public and and legit. Without going into details on the merits of the KIN project, I have little reason to suspect this project to be a blatant scam, sure I could find points of criticism, but overall this project seems to lean to not shady at all (at least not by average crypto standards). 


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General information:

Symbol:KIN
Price (USD):$ 0.000025
Percent change (24H):1.19 %
Percent change (1H):-0.88 %
Market Cap (USD):$ 18,868,526.38

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