The Kik is making its headway in the crypto currency industry, by acquiring the way to increase funding through ICO; which is proving to be an ideal decision for the company.
A messenger app Kik seems to elevate $125, after an extreme capital raise to $50 M, from its pre-sale of ethereum token to institutional investors, including Pantera Capital, Polychain Capital, and Block chain Capital.
Kik CEO Ted Livingston stated “Developers would take a percentage of the daily reward in proportion to the number of transactions their service was responsible for,”
“This creates a reward engine, a beautiful network effect, where the bigger the daily reward, the more services come into the ecosystem, which drives up the daily reward and more digital services. Very quickly this could become a very powerful economic force to bring developers to,” Livingston added.
The company is proud on its decision to build an app like Kik and has confirmed to hold a token sale from September 12.The interested investors wanting to buy into Kik’s ‘Kin’ token sale, has to register at kin.kik.com, with passport/social security details, an Ethereum wallet address and other info, before September 9.
Which means these willing investors will be ‘white-listed, and can participate in the sale event by sending Ethereum to the dedicated Kin ICO address on September 12.
In this session of token sale, Kik will sell 512 billion Kin for $75 million, making the total ICO distribution to rise up to 1 trillion. This session is expected to be one of the highest collections to date.
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