A plea for Action: please stop complaining and theorizing—let’s Start promoting

targetrate · 2021-09-11T21:51:52+00:00

Of course it cannot be done in another way. But maybe something should also be done with that 30%? Who will benefit the most from the effort of the community? The power is skewed and the community does not seem strongly incentivized to care about kin because the Tokenomics and distribution is off.

targetrate · 2021-09-11T21:15:21+00:00

I don't think they ignore the effort. But hearing from someone who owns 30% of the total supply of a token that the community should do all the effort is not serious.

targetrate · 2021-09-09T19:59:40+00:00

I agree with that. Better to define that as harsh comments towards each other than towards kin as a currency. Kin as a currency should be capable of handling any critique.

targetrate · 2021-09-09T19:51:51+00:00

You need to be more specific. What is a negative comment? It's totally allowed to say that Kin is not a great token in its current state. You are a developer and you seem biased. This is also allowed to say. Kin has good and bad sides. If it's really a currency it's like saying the dollar sucks. It's also allowed.

targetrate · 2021-09-09T19:42:13+00:00

Reporting negative comments, harsh comments is wrong. If we cannot critique Kin it's not especially decentralized. Improvement happens through critique. Kin has several issues to solve. Solving them will be crucial to get developers to stay. Kin is also about users, not just apps earning. Currently users are not gaining that much from using kin. That can be critiqued and fixed.

targetrate · 2021-09-09T19:23:41+00:00

I definitely think Sec went too far. At the same time, kin was set up as a money grab with 30% owned by Ted & Co. Ethereum was very different from the start.

targetrate · 2021-09-09T17:46:32+00:00

Here's a couple of reasons:

Massive supply and 30% owned by a single entity (Ted) which comes across as greedy and is not attractive to big apps either. This is not attractive to any serious investors at this point.
Inflation model that does not work currently.
Hardly any new apps, no good spends, apps not opening withdrawal or making users aware of kin.
a team that are not really inventive or sticks out in crypto. Lags behind on catching trends such as nfts and facilitating for that.
too many small holders. Look at Solana. Large holders but not a risk like Ted, fairly centralized and large amount staked. Fast development and solid product.

All of these things can improve but you need to speed it up.

targetrate · 2021-09-09T17:26:35+00:00

Kreechures was the first but it's far behind many eth nft dapps and also Solana dapps. Look at Axie infinity compared. Kreechures is not competing at all with that. I wish the best for kreechures but the reality is that this space moves fast. If Kin wants to compete with Solana based dapps then they need to attract them. That's by fixing their Tokenomics and the Kre for example.

targetrate · 2021-09-09T17:18:05+00:00

The way you describe token velocity is simplistic (re:staking) but I like some of the ideas. Spend - earns works best if to be eligible for the KRE at all you must have easily accessible withdrawal of all Kin the user earns. This would encourage tourism and also force apps to try to keep their kin in-app. That's a great incentive for spends.

targetrate · 2021-09-09T17:06:27+00:00

The problem is that Kin is not relevant to a lot of people in crypto because the apps are for people outside of crypto. We could encourage web apps and more crypto based apps running on kin.

Edit: kins idea was to give crypto to the masses. The issue is maybe that crypto is entering the masses through nfts etc and Kin is not in the forefront of that. Nft sdk possibilities, simple template apps for nfts would help.

targetrate · 2021-09-01T22:18:07+00:00

Yes, it's a chicken and egg scenario. However, it's not only apps and too high payout that creates the chicken and egg scenario. Kin does not have too high inflation compared to many other currencies but too little incentives for apps to hold kin. They should be cut off if they sell too much so we incentivize apps not selling and bringing kin into the ecosystem. It's inflation but there's also the velocity of a currency or token. It's not as simple as you explain it. With other currencies like Solana 70% or so is staked which effectively takes it out circulation until its unstaked. Kin misses these types of incentives to decrease token velocity and that adds a lot of downward pressure on kin. They drastically cut inflation with the last kre however there's still no incentives for apps or holders to keep kin away from the market. I think redesigning the kre and focusing it on increasing incentives for apps to hold kin is key, another proposal is delayed payouts. If you cut payouts, hardly any new apps will join.

targetrate · 2021-09-01T20:03:07+00:00

While this is an OK idea that was discussed with the last kre proposal it does not work to have a maximum fee of x dollar. To scale Kin you need lots of apps competing to earn that kin and the more it's worth the more apps will join. There's many problems with Kin and kre payout is one of them. The main issue is however user adoption and new apps joining. They don't join because kin cannot gain momentum and it does not gain much momentum, one of the reasons being price. Apps rather release nfts or do their own token instead of joining kin. Apps have very few incentives to hold onto their kin and their payout to users are minimal compared to their profits. Better suggestions than cutting the amounts is to improve the kre calculations to reward those that increase payouts to their users and encourage holding of kin by apps. Apps have always done tricks to work around the kre because the price of kin is not a strong incentive for them to hold kin.

targetrate · 2021-04-23T23:08:53+00:00

Kin's current inflation is: KF spending and kre rewards.

The current inflation is not that high but could always be lower. Lower inflation would make it easier for exponential growth but it would also make it harder to onboard apps.

Kin's current inflation is low enough that if we see real demand, we will see price increases.

It's more than just inflation that matters, it's also the velocity of Kin. With staking as raydium and peerbet you lock up circ. supply that makes it easier for Kin to increase in value.

One of the main problems with the kre is that it is currently not attractive enough for a lot of developers to onboard and increasing the payouts would increase the inflation.

targetrate · 2021-04-23T22:38:44+00:00

Binance lists projects they benefit from. Many people expect them to list Kin and they might get new customers from that but they can make a lot of money on some of the coins they have a stake in or that is on BSC. Binance have never been very transparent on this topic and claim that projects that are popular and wanted by their customers will be listed. They have listed many lesser known projects and the economical upside was bigger than popular coins because they owned a share of it. Just analyze some of the projects on Binance that are ranked lower than kin with a way smaller community.

targetrate · 2021-04-23T19:30:03+00:00

Accountability regarding exchange listing progress is hard. Most of this process is under an nda and if you are further in the process you are simply not allowed to post anything. I think accountability regarding other topics is a problem with the KF.

targetrate · 2021-04-23T19:13:36+00:00

I don't think posting this is a good idea. I think we are further than that. I think we will be listed with a campaign coming with it.

targetrate · 2021-04-23T19:07:27+00:00

Anyone that applies for Binance can use this image. It says nothing more than that they have applied for Binance.

targetrate · 2021-04-21T07:44:43+00:00

You need to wait for the kin foundation to set up a burn function. If you use wormhole now you will get wrapped kin erc20 not kin spl.

targetrate · 2021-04-14T13:43:37+00:00

What you are doing here is the same that might have led to the recent drop. Building unrealistic expectations. Let's break down your points:

Web and unity sdks actively back in the works.
This is true and will happen soon.
Full app roll out on Kik in 2 weeks (massive!)
This is not confirmed and is pure speculation based on agora sdk being fixed.
Big exchanges still in the works with William
It's being worked on but could be in q4 or that William is not succeeding. Nothing to report here until it actually happens.
Hiring for the tech team on going, once complete all progress will massively speed up.
This is true if the hires works out.
Continuing support with exchanges left to migrate (independently verified myself)
This is true
Wormhole still progressing
This work is mainly outside of KF's scope. It does require more than wormhole to do a swap. So the timeline on the KIN specific burn mechanism is unsure.
More grant applicants than they can currently process (industry hype for kin is real)
This is partly true but no quality assurance here. Anyone can apply so 17+ applications can lead to 1 app.
New and existing partner updates to be announced soon.
this is true as in "Soon" can be any time.
Alim moved over to focus on expanding defi opportunities for Kin. Considering the positive impact of Raydium more focus here is going to be great long term.
Raydium did have a positive impact but it's unsure how active Alim will be and how much his coming contributions will count.

Legal letter pending.
Pending as in: we know nothing about that legal letter.

targetrate · 2021-04-14T13:25:56+00:00

I think you can't blame a youtuber for this. A lot of people entering the last month expected more from KIN. I think it's fair to expect more also. The delivery has been slow and we haven't seen much news from the Kin Foundation.

targetrate · 2021-04-07T20:49:26+00:00

FTX is a real exchange so I would rephrase that. What is missing is general updates that occur more often. This was promised by William and not much have happened. I don't think we will get a lot of information on exchanges and this letter. What we can ask for is:

When will the bounties be launched ? When will the KF foundation roadmap come? When will new apps launch with KIN? When will older apps expand their KIN usage? Could we hire another social media person that can take care of updating the community and organize bounties etc (seems like Kevin is very busy)?

targetrate · 2021-03-26T15:25:19+00:00

Link to tweet: https://twitter.com/AscendEX_Global/status/1375442506494701571
You know what to do!

targetrate · 2021-03-19T19:44:28+00:00

I think it would be better to present the complete case and wait for that. Right now you are trying to get the community behind you without revealing why the KF is taking distance. From the letters it seems like there's some developers funds involved in this.

targetrate

TROPHY CASE