KIN Repurchase scheme from the open market

“To all KIN hodlers here comes good news.After a rocky past 12 months, finally some good news to KIN coin hodlers….buyback.KIN has seen some ups and downs with the case with the SEC who claimed that KIN was a security to closing of the Kik messenger (a decision that we have since reversed) but the Foundation still stands strong.” CEO Ted Livingston

As announced earlier a sum of $ 5 million was crowdfunded allocated for fighting the SEC in court to prove that the KIN token sale was not a securities sale and did not need to be registered with them to enable the sale to our US investors who we are still thankful for for their confidence in us (the KIN Foundation and) the KIN project.

Now that Kik has been acquired by MediaLab who have promised to make Kik better and continue developing on KIN things are looking up.Kik has new home.

Today we announce a repurchase/buyback scheme of KIN coins from the open market (i.e crypto exchanges).The buyback will involve roughly 200,000,000,000 KIN of the circulating supply from KIN holders from November-December 2019.

So you are wondering why the sudden decision (buyback)? What are the tokens for? The KIN ecosystem has been growing rapidly with new apps been added frequently. Most developers are from small startups and the KIN Foundation wants to give them incentives to stay in the ecosystem and also to help the acquire more users faster.Therefore the KIN Foundation plans to give the tokens as grants to developers and airdrops to new an existing users on their platforms.

From now on the Foundation’s work is to support development and growth in the Ecosystem sticking to our original motto.

“Better engagement,higher rewards for apps and their users.”