We have been huge supported of the KIN vision at Buildooors over the past several years! In fact, we only discovered Solana as KIN was one of the first few projects to move across to Solana, due to its scaleability and low fees.
We were there when there was an ecosystem of KRE (Kin Revenue Engine) apps all earning, spending and transferring $KIN between eachother…
We even started building a game for $KIN… More on that in another post in the near future…
And we were also there when the KIN Foundation was disbanded…
The Great Burn Has Now Been Completed! 🔥
On the 28th July 2023, ~70% of all $KIN supply was burnt. This means the founding companies or entities that still had huge reserves of $KIN tokens were burning the majority of their $KIN in the name of decentralisation. $KIN is a currency that has been to the courts with the SEC and came out the other side still alive. To read more on the actual burn tokenomics, please refer to the $KIN reddit. KIN is now Decentralised!
Long Live Code Wallet
If you haven’t been following, some of the original founding team moved on to found Code Wallet. They have been busy building an amazing experience for sending money.
Check out the Code Wallet at their Website – https://getcode.com
- Incredible PMF
- Solana L2 rails
- Privacy through obscurity
- No fees
- Near instant settlement
- Debanked only need mobile phone & internet
- Global $$$
In fact, we are huge fans of what this wallet can enable. Check out our mega-tweet-thread, or X-thread as it is now called.
We Keep BUIDLing… Introducing Kin.Network
As part of decentralisation, the Kin Foundation website called https://kin.org is no more. It was shutdown. It is now up to the community to BUIDL. We have built a website where the KIN Community can login and discuss specific forums, see a list of ecosystem apps currently support KIN. We are also working with Solpress Plugins to integrate a Solana Wallet and $KIN currency into our website! Stay tuned.
New OpenBook Markets – Bring on the DEX’s!
OpenBook is the decentralised open source DEX running on Solana! Its trading volume and transaction counts have been smashing it out the park lately. In order for $KIN to be a part of it the community needs to get $KIN markets created, add liquidity to the pool, so that DEX’s and Swap Wallets that use the OpenBook infrastructure can list $KIN.
We have created some OpenBook Markets via Raydium! Huge shoutout to the Raydium support team for helping us create these new OpenBook markets. Couldn’t have done it without them!
In order to make sure $KIN pools have sufficient liquidity we started adding liquidity over at the Raydium Website! We followed these steps:
- Visited the Raydium Pools page
- Find the OPENBOOK liquidity pools for KIN-SOL and KIN-USDC
- Hit the Add Liquidity button to chip in some liquidity
Before you do anything, you need to learn what AMM’s are and how liquidity pools work. We recommend you read the Raydium Documentation! There is risk involved. This is not financial advice! Any questions, the Raydium Support crew are awesome!Learn what De-Fi is before Getting Started!
So what does this mean?
It means that $KIN is now running on Solana DeFi rails. It also means that any DEX on Solana can now list $KIN! Time to get on the phone $KIN Community and get some listings 💪💪
How is the KIN Community Gonna Move Forward Now?
Things are looking good for Mango Markets!
Quorum has been achieved!— R◎BIN (@RobinCordini) July 31, 2023
Over 160 million votes to 0 to list $KIN on @mangomarkets
Vote still has over 24 hours, but at least quorum is achieved!
Thank you to all those in $KIN & Mango communities
Looking forwards to releasing a thread on putting $KIN to work in Defi soon pic.twitter.com/YZ4zI3DcwO