Kik Interactive, the Canada-based company behind the chat platform Kik, has announced that it has successfully raised nearly US$100 million in the Kin token distribution event (TDE).
More than 10,000 people from 117 countries participated in the token sale, contributing 168,732 ETH (approximately $48.9 million at current exchange rate). This, together with $50 million raised in presale round, brings the total to nearly $100 million, falling short of initial target of $125 million.
“We wanted as many people as possible to participate in the Kin token distribution event. Based on the outpouring of support leading up to and during the event, we clearly achieved that goal,” said Ted Livingston, founder and CEO of Kik. “We envision Kin as the foundation for a decentralized ecosystem of digital services, starting with Kik, and we couldn’t be more thrilled than to build this new future together with you.”
Kin, an ERC20 token on the Ethereum blockchain, will be integrated into Kik as the primary transaction currency. With this integration, Kin has the potential to become the most adopted and used cryptocurrency in the world, the official release said.
Furthermore, the Kin Rewards Engine, an innovative cryptoeconomic structure intended to promote the use of Kin as a common currency, administered by the Kin Foundation, will foster the creation and development of a worldwide, decentralized ecosystem of digital services.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
