Revising the Kin Usage Metric
What differentiates Kin from other cryptocurrencies is real-life usage by users within apps in the ecosystem. That’s why we make it our top priority to build tools and enable experiences that will drive more users to spend and earn Kin in their favorite apps. Usage isn’t just the main driver, it is also a key way to track Kin’s adoption.
MAS (Monthly Active Spenders) is the primary metric we track as it demonstrates the growth of real usage of Kin by actual users. Up until now, we calculated the MAS metric under the presumption that each user would only have one wallet per app and that the wallet would be used to send and earn Kin.
During our internal review last week, we discovered that the MAS number did not accurately reflect the number of monthly active spenders and earners. Correcting this error was essential to tracking and accurately reflecting real usage by real users, which is particularly important since usage is Kin’s main driver.
When we looked into the cause of the discrepancy, we understood that we’ve been operating under the assumption that apps only open one wallet per user. This is not always the case as apps sometimes open more than one wallet per user for technical and functional reasons.
We recently announced reaching 500k monthly active spenders. This was an exciting milestone and one we will quickly reach again. Starting today, our MAS metric will reflect the number of unique Kin users and not wallets. Today that number is over 375k, which we believe makes Kin the most used cryptocurrency by mainstream consumers.
As we continue our efforts towards achieving mass usage of Kin in the digital world, we cannot compromise on staying true to our values. Over the course of the journey so far, we established that there is one essential element that we must always maintain and improve: transparency.
We invest time and resources in finding ways to be more transparent, regardless of what it reveals. Our tools are open, our communication is open, and our data is open. For the long term, we are working on a solution that will further increase transparency and allow anyone to audit the usage of Kin across the ecosystem, and see the usage of real users.
This is a marathon and not a sprint, and we will continue to audit and review our decisions to measure the right metrics with transparency in mind on the path to becoming the most used cryptocurrency in the world.
