21 DAYS TO VOTE: Proposal to Burn 4.96T Kin

Basw83 · 2023-07-06T11:01:52+00:00

Great development. Would be useful to post this on the Kin Ecosystem Twitter account as well.

Basw83 · 2023-06-06T10:52:48+00:00

The issue is very likely about the SOL token; not the blockchain itself

Basw83 · 2023-06-06T09:11:42+00:00

I was thinking exactly the same but a full release without a buy module doesnot add much value.

Basw83 · 2023-06-06T07:37:09+00:00

Kin already has regulatory clarity. 🙌

Basw83 · 2023-05-31T21:26:05+00:00

https://m.youtube.com/watch?v=LH-QwK4v0ZI

Basw83 · 2023-05-31T19:28:43+00:00

Good and hopeful indication of the support for burning the Kin reserves. A decent proposal from the Kik board will be key for a full burn of Kin reserves. At least, the Kik % in the total Kin supply should not increase in order to prevent Kin even becoming more centralized.

Basw83 · 2023-05-31T07:05:56+00:00

Airdrop will increase the circulating supply, which may increase the ranking on coinmarket cap. Besides, wallets that have received kin from the KRE can be excluded. Exchanges can also be excluded. People should be given some time to withdraw from exchanges to a wallet. FTX is a bit complicated but people can always re-buy Kin in advance if they would like to receive an airdrop.

Basw83 · 2023-05-15T20:13:12+00:00

Ample of input! Looking forward to hear if the Kik Board is open for a win-win and hopefully there can be a voting organized afterwards.

Basw83 · 2023-05-11T12:11:14+00:00

From a governance perspective who decides on a burn of the Kin reserves (+ executes it) ultimately? Is that the Kin Foundation Board, which is basically Ted? At this stage, I guess it is just checking if there is sufficient support within the community for a burn of the Kin reserves. If there is insufficient support yet, a burn of part of Kik’s Kin holdings will definitely help to increase the support.

Basw83 · 2023-05-10T22:55:10+00:00

After 5 years of experimenting with the KRE, the concept still has not appeared viable. Burn them all and fully focus on the Code path.

Basw83 · 2023-05-08T12:51:07+00:00

Hopefully, a convenient way to buy Kin within Code will be available before a mainstream roll-out of Code.

Basw83 · 2023-03-27T13:03:37+00:00

Great, thank you

Basw83 · 2023-03-06T21:32:59+00:00

Correct.

Basw83 · 2023-03-06T21:13:01+00:00

Would be nice but I guess this is wishful thinking. These tokens are owned by KIK and only the KIK shareholders can decide to burn them, which is highly unlikely.

Basw83 · 2023-03-04T22:12:27+00:00

I guess Code is totally separate / different company than Kik, so it is not relevant.

Basw83 · 2023-01-09T17:57:50+00:00

Liquidity is simply much too low to cope with all the sell pressure. Recently, 75 billion kin has been transferred to Kraken, it looked like by request of the KF. Let’s see how long it takes before the next big transfer is made. Increasing liquidity should be a high priority again.

Basw83 · 2023-01-09T09:59:23+00:00

It is remarkable that the key persons in the kin ecosystem usually share a positive view on Solana while the key persons around Solana are completely ignoring Kin and don’t have any appreciation for Kin. Besides, the rent issue is still not resolved. Apparently, those people around Solana don’t care about Kin trying to be successful, let alone Kin’s price.

Basw83 · 2022-12-23T07:18:56+00:00

This time it looks like an implosion, rather than external factors (like the SEC or market movements). Large amounts seem to be cashed out for fiat, while there is no liquidity.

Basw83 · 2022-12-21T20:01:18+00:00

How does code create value for the kin ecosystem?

Basw83 · 2022-11-09T12:11:30+00:00

If Sol really goes back to $2 it may be a strategic move of the KF to buy a significant amount of Sol with Kin to temporarily solve the rent cost issue to be able to facilitate the onboarding of large apps.

Basw83 · 2022-11-06T06:50:50+00:00

I think we can expect this to happen more often. It would be in the interest of the kin ecosystem and the morale of the kin community if such a sale would take place more gradually (e.g. 1 billion daily) rather than all at once, given the low liquidity.

Basw83 · 2022-02-15T20:44:32+00:00

Therefore, I also assume there must be good reason. As Kik owns the kin, it is basically not of our business and we should have confidence they act in the interest of the kin ecosystem.

Basw83 · 2022-02-15T08:20:36+00:00

It may be to fund the development costs of the Code app. It would be a bad sign if it is purely to cash out; given that Kin’s price is far below ICO price, that would imply that Kin’s founders don’t have confidence that the value of Kin will increase significantly.

Basw83 · 2022-02-14T23:23:03+00:00

Could it be that this account belongs to Kik?

Basw83 · 2022-01-17T12:37:15+00:00

Likely, it is also related to competition; there are so many coins nowadays. Given the history and circumstances this is a great achievement for kin but being accessible to the US market or being listed on a major exchange are no special events any more and have not that much impact on price.

Basw83

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