Popular messaging app Kik is moving its Kin tokens from the Ethereum network to the Stellar network sighting issues with speed, reliability and costs.
Mainstream chat app Kik raised nearly $100M for its new Kin token to be used by messenger’s 15 million audience as the primary transaction currency.
The beginning of Kin token distribution event (TDE) launched by the Canadian social media giant Kik Interactive, was announced yesterday on September 12. Having already raised $50 million in a presale round, Kik aims to raise $125 million in total through the ICO (initial coin offering).
Kik Interactive has recently declared the official start of its Kin Token Distribution Event for the sale of its cryptocurrency Kin on September 12, 2017.
Sale Expected to Raise US$125 Million After Successful Presale with Accredited Investors, Including Blockchain Capital, Pantera Capital, and Polychain Capital.
With the launch of its own virtual currency, the company aims to build an open and sustainable ecosystem of digital services to compete with established giants.