Kik/Kin is literally a crypto prostitute. “The Solana Foundation would actually pay the Kin Foundation for making this move, however, awarding it with up to 1% of the supply of SOL...” https://t.co/yMryYP7jHp
Solana has the best performance (throughput and latency) of any live smart contract platform. I'm excited to see one of the most demanding dApps choose to move to Solana because of their performance needs.
In Solanas case, I am betting that Solana is giving the Kin Foundation at least 1+ year worth of SOL coins for them to switch as part of Solanas marketing budget
It seems that this deal they inked with Kin is even better than my hypothesis. Quote from Coindesk
The Solana Foundation would actually pay the Kin Foundation for making this move, however, awarding it with up to 1% of the supply of SOL (roughly $6 million at today’s prices), with 0.1% unlocking for each new 1 million active users that join over a 24-month period.
While Kin has not officially announced it yet, from the Change My Mind post i will leave my previous 1a quote behind
A small portion of these 'free' tokens will pass to the KRE devs, to help get them started on the transition so the entire ecosystem can migrate over. Reasoning: Currently the Solana tokens are available to buy for non-US citizens, but most of the KRE projects are USA based, meaning if they switch and don't provide tokens, then those projects will die or leave.
Once the Devs approve a switch to Solana, then 1a should come true, then prediction 2 comes true as well by default. Once the case gets closer, I am betting we will hear the defense cite my prediction #3. The only thing I would clarify, is my prediction for 1b, is a scenario where the SEC case gets delayed an unreasonable amount of time and they have no other ways to secure funding to keep it going.
>Confuse SEC by forking the chain, let Kin Classic remains on stellar while the real KIN moves to Solana 🤷♂️
The SEC is not Craig Wright who can be confused so easily. If you want to fork Kin, go ahead. But you'll soon find out the community did not follow you.
This is exactly what I think every time I hear that they are probably going to Solana. If we're being honest the best reason I've heard is that they are getting 1% of the total Solana supply to do it ($6m worth of coins right now, but it'll be worth a metric $b if things rocket off the way we're expecting). Kinano is the dream, but I'd settle for a successful kin on Solana in reality.
It wont. Its too late for nano and almost all of these coins in the top 100 marketcap. However, with something like Kin that does have real usage by real people, we have a chance of getting to the top 100 with real usage, like Bitcoin and Ethereum.
Theres this meme in the ethereum community. Its so powerful because its become so accurate.
>2015/2016: "Ethereum will never work"
>2017/2018: "We're going to kill Ethereum"
>2019: "We're going to be better than Ethereum"
>2020: "We're building bridges to Ethereum"
>2021 and beyond: "We're just going to build directly on Ethereum"
The current titans are Bitcoin and Ethereum. Kins only chance, is to become the default crypto of apps, and we wont know how that plays out until after the SEC case. But I am betting heavily on a favorable verdict, as well as a switch to Solana followed by household names getting onboarded. If you think nano can beat my vision for Kin, do it. Stay in Nano. Otherwise, get out of it and go with BTC or ETH. Those are the safest bets. I am a degenerate. I am Kin.
I am going to be harsh, but real. Nobody cares about instant or free payments. I mean it, nobody cares. If they did, the lightning network would have more than 1,000 bitcoin locked up in it after 2+ years.... it doesnt. Barely at 990 right now. Guess what has over 3,300 bitcoin locked in it? Ethereum. [WBTC has 3,800+ BTC on Ethereum](https://www.wbtc.network/dashboard/order-book). These WBTC are tokens that can be redeemed for real Bitcoin, via the Bitcoin custodian BitGo.
USD is the worlds reserve currency, and Ethereum has 10+ variants of it, with all of them being backed by real assets, or other crypto.
Stellar has USD, and it costs less than $0.0001 per transaction including tokens. It had real world assets backed by Anchor USD and Stronghold USD. Both left the ecosystem due to insufficient usage within 2 years.
Tron has 533 million USD of Tether on its chain, and its hardly being used. [Tether has 5.7 billion USD on Ethereum](https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7) (look at total supply), and its the most popularly traded asset on the chain bringing in 1.5 million USD (7510 ETH) in transaction fees alone. [Tether transaction fees are found here, at the #1 spot.](https://ethgasstation.info/)
Let that sink in, people traded Tether so much, they paid a collective 1.5 million USD to do so... If that isn't the anti-thesis to nano, I don't know what is.
“It is ultimately up to the developers in the Kin ecosystem to decide if they want to migrate to Solana; however, we know that speed and throughput are two key issues within this community, and those happen to be two areas where Solana shines brightest,” Yakovenko wrote.
We at Kik Interactive Inc. have been working with the Solana team to stress test their technology. Through this process we have found that not only is the Solana infrastructure a strong fit for Kin, the Solana team is capable and well positioned to support Kin as it continues to scale.
It is our recommendation that the Kin Foundation agrees to the grant proposed by the Solana Foundation and that the Kin Ecosystem begins working with the Solana team on a migration plan to move off of the Kin Blockchain and on to the Solana blockchain.”
Because they don’t want to be working on the same wallet app for an entire year. If they don’t finish till Q4 that would be the case. But, if we get laser raptors with the wallet I won’t mind it taking a year.
“What we’re getting close to is rolling out the new wallet for kin that Kik Inc. is working on, to connect the ecosystem, and that’s where you’ll start to see some more vibrancy within the ecosystem,” Philp said.