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Kin Ecosystem Year-In-Review: 6 Major Achievements in 2022

Community
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Developers
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Kin Foundation
Kin Rewards Engine
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Dec 20, 2022
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Kin
Foundation

It has been an exceptional year for the Kin Ecosystem, with numerous achievements and developments. This includes the introduction of Kinetic, the launch of a new brand identity, the formation of new partnerships, the proposal of the Kin Rewards Engine KRE 4.0, the modernization of data and analytics, and Kin's continued leadership in the Solana ecosystem. These exciting developments have solidified Kin as a leader in Web3 and sets the stage for continued success in 2023 and beyond.

Here is a closer look at each of the major achievements from 2022:

Introducing Kinetic: Next Generation Kin API and SDKs for the Kin Ecosystem

Blockchain technology is constantly improving, and Kinetic is the latest advancement for the Kin Ecosystem. It offers a range of powerful tools and features for developers, as well as faster speeds and better decentralization. This will greatly improve the experience for developers working with Kin.

Kinetic is a collection of tools designed to make it easy to build apps that integrate with Solana. This is especially useful for developers who want to create crypto-based experiences for their app users, without having to worry about the technical details of the blockchain. The result is a smoother experience for both developers and end users. Learn more here

Say Hello to the New Kin Brand

Earlier this year, the Kin Foundation unveiled a new look, including a refreshed logo, messaging, and website. This was part of ongoing efforts to develop the Kin brand. As the Kin Ecosystem continues to work towards its goal of becoming a widely used cryptocurrency, the new brand identity better reflects the vision Kin brings to the industry and the world.

The new brand identity has been designed to be a more effective platform for community members and developers to connect and promote Kin, while staying true to the core values of the original Kin brand.

Branding Guidelines 

Meet Kin: Watch the new video

Evolution of the Kin Rewards Engine - KRE 4.0

The Kin Foundation proposed updates to the rewards engine algorithm in order to incentivize specific behaviors from developers in the Kin Ecosystem that will support the growth of the economy.

Kin's mission is to become a widely used cryptocurrency in everyday life. Incentivizing the growth of Kin spenders within Ecosystem applications has been shown to help drive the adoption of Kin as a currency, but it is not enough on its own. To stimulate the economy, the proposed KRE 4.0 will provide incentives for developers to:

  • Build higher quality use cases, and
  • create more economically significant transactions.

The feedback provided by the community is currently being reviewed and it is expected that the 4.0 proposal will be refined in early 2023 before it is implemented.

You can review the full proposal for KRE 4.0 here.

Exciting new apps in the Kin Ecosystem 

Infinity Games Chooses Kin for Unity Gaming

Infinity Games, the established mobile game development company with over 30 games and 190 million downloads, announced that they have chosen Kin to be the exclusive cryptocurrency for their soon-to-be-revealed “clashing clans-like” mobile game, BUGS.

Learn more

Giftery Joins the Kin Ecosystem and Brings Over 250 Gift Card Options for Popular Retailers 

Giftery is a new gift card store and developer tool for the Kin Ecosystem. The app enables users to spend Kin and purchase virtual gift cards from over 250 + major retailers, including: Airbnb, Amazon, Best Buy, Chipotle, Disney, DoorDash, Ebay, Gamestop, Hulu, Nike, Sephora, Starbucks, Uber, Walmart. Whole Foods, XBOX, and much more…

Learn more

Web3 Chat Platform Cafeteria.GG Joins the Kin Ecosystem

Cafeteria is an innovative chat platform natively infused with the latest crypto-tech to bring a new and exciting community driven experience. Cafeteria has integrated Kin to be the very first SPL token able to be earned & spent within the app, enabling users to not only just discuss their interest on a topic or content, but actually show their appreciation by tipping users with Kin.

Learn more

Kin has seen many other apps join the Ecosystem this year. Click here to view a complete list of all Ecosystem apps. 

Modernized Data and Analytics 

This year, Kin Foundation made a significant upgrade to its data and infrastructure stack. Big Query, the legacy datastore was fully decommissioned and the new Snowflake data source was implemented with updated visualizations. 

Shakudo also began to provide services to the Kin Ecosystem. The importance of upgrading data and infrastructure cannot be overstated. A reliable ingestor is crucial for accurate data models, which serve as the source of truth from on-chain transaction activity. This ensures the KRE can calculate its rewards faster and more accurately, and will also lead to the release of new projects such as the "Uber" Dashboard. In addition to improving reliability and accuracy, upgrading data and infrastructure can also lead to cost effectiveness. The new visualizations and underlying data models will provide valuable insights for all Ecosystem participants. Overall, Kin's upgrade of its data and infrastructure stack is a major step forward and was accomplished this year.

Kin Continues to be a Leader in the Solana Ecosystem

Throughout 2022, Kin has experienced month over month growth based on the percentage of active wallets (unique Kin signers) compared to the total active wallets across the Solana Ecosystem. In the first week of December, Kin reached its peak at 57% of active wallets across the Solana Blockchain were Kin wallets. Kin is integrated into over 50 Web, Mobile, and Gaming projects, and is the most held token on Solana after SOL. The Kin ecosystem has over 8 million unique holders and 1.7 million monthly active users, which is a 22% increase since the beginning of 2022. This strong growth sets Kin up for success in 2023 as it establishes itself as a dominant player

In Closing

It has been a great year for the Kin Ecosystem with many exciting achievements and developments. Looking ahead to next year, we are eager to see what new developments and innovations the Kin Ecosystem will bring to the world of Web3 and cryptocurrency.

About Kin

Kin gives everyone skin in the game – making it easy for apps and brands to reward users and create exciting experiences with cryptocurrency, all while generating new streams of revenue for themselves. Tearing down barriers to crypto development, Kin is leading the Web3 revolution by empowering platforms and their users to forge mutually beneficial relationships. Win-win is a cliché – Kin is the reality. Visit kin.org to learn more.

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