Messaging App Kik Opens Registration for Its Token Sale | ALLTOPEX

Messaging App Kik Opens Registration for Its Token Sale


Kik hopes builders will discover the cash it invented compelling. KristopherK / Pexels

Kik will not be the most important messaging app on this planet, however the Canadian unicorn is among the most influential, often innovating new options that different apps copy. The cell app, particularly in style with teenagers, is making a bid to develop its market.

As we’ve beforehand reported, Kik will try to draw new customers by convincing extra builders and designers to invent new options for its platform. To do that, Kik will create a brand new cryptocurrency known as Kin. A considerable amount of Kin might be held apart to be paid out routinely to builders who create Kik-based merchandise that individuals actually use.

With a purpose to set up an preliminary worth for Kin (and to lift sufficient cash for Kik to pay for growing the system), the corporate will maintain an preliminary coin providing or token sale (not all the main points have been launched but) someday quickly. It simply took one other step towards that sale at present, by opening the sale up for registration.

All potential contributors within the sale have to pre-register no later than three days earlier than the sale. Non-U.S. contributors and individuals who plan to place in additional than $100,000 must present a scan of their photograph ID and selfie. U.S. residents investing much less will nonetheless have to supply fundamental contact data and proof of a authorities issued ID. All of this might be shared a third-party verifier who will cowl Kik’s “know your buyer” obligations below U.S. anti-money laundering legal guidelines.

Registrations needs to be verified in three days.

Funding can solely be made by way of an Ethereum pockets. Traders must present one legitimate Ethereum pockets tackle and solely that pockets can be utilized to make investments. Traders must estimate how a lot they plan to take a position, however they received’t be held to those quantities.

In its FAQ, Kik emphasizes that one among its objectives is broad distribution of Kin, although it doesn’t clarify why. Extra particulars about the way it plans to construction the distribution (and when) will come out quickly.

Kik will cap the sale at $75 million, in line with an electronic mail from the corporate.

We beforehand reported on the token sale for Filecoin. It has raised just below $200 million in its sale thus far. We additionally lined the Ineffective Ethereum Token, which made just below $100,000 by discouraging folks from shopping for it. We’re within the midst of a little bit of what is perhaps described as a bubble in promoting new currencies for various platforms.

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Messaging App Kik Opens Registration for Its Token Sale

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