The creators of the popular messaging app Kik stated that they are releasing a cryptocurrency fund for developers worth USD 3 million in an order to support the company to monetize digital economics. The app creators are pushing kin cryptocurrency and are placing a bet on skillful developers who can help to expand the growth of the company in crypto space.
Kik providing Cryptocurrency Fund to top developers
The Kin Foundation has already started to accept the applications for the kin Developer Program which is going to pay 25 developers a total of about $3 million to create as well as maintain the “kin economics” for the upcoming six months.
Developers who are selected for the program will be given upto $116,000 which will be paid as a combination of both USD and Kin tokens, mainly for developing apps based on the kin Ecosystem SDK. The main purpose behind this is to offer unique in-app opportunities to earn and spend kin in various digital platforms. Developers will also get a personal mentor who will guide them in the project.
Ten Livingston, who is the founder of KIK and kin was very enthusiastic about company’s plan and stated, “Up until now, developers haven’t had access to a consumer-ready cryptocurrency that can easily be integrated into mainstream apps and platforms.” He further added, “The Kin Developer Program offers just that, and it also financially incentivizes developers to create natively with Kin, bringing us closer to our goal of becoming the most used cryptocurrency in the world.”
Kik’s 6-month Developer Program
The six-month program will be divided into three phases. Here, selected developers will earn rewards for fulfilling specific benchmarks. But in order to receive full $116,000 USD, each developer has to incorporate an app by October 2018 which should be validated by KIK team, along with onboarding 10,000 monthly active wallets (MAW) till Jan 1st, 2019 and to increase the network to a number which reaches minimum 50,000 MAW till April 1, 2019.
Earlier, KIK raised about 98 million dollars via their much anticipated initial coin offering (ICO), which utilized the large funds gathered by the crowdsale to encourage the further development of coin moving forward.
This is a great opportunity for all the developers who want to become famous in the cryptocurrency world. Also, a developer receives a part of the cryptocurrency fund on fulfilling certain criteria set by the firm.