The token was previously announced in May 2017, with its fair share of sceptics, who said the idea of incentivizing social media interactions with a points system has been tried before to no avail, according to CoinDesk. Kin token is based on Ethereums ERC-20 standard, and therefore it will be possible for exchanges to list the token for trading, and in turn, ultimately redeem them for US dollars.
After the pre-sale, the company will have a “token distribution event” in September 2017, targeting an additional USD 75 million by selling 1 trillion of a total of 10 trillion units to be created. Thus, the total raise is expected to net a combined USD 125 million in new capital for the company.
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