Kik is launching an open source crypto token called Kin, which is expected to be used as a universal cryptocurrency in everyday digital services such as chat, social media and payments. Kin will be the unit of all economic transactions within the Kin ecosystem, which will serve as the basis for interoperability with other digital services.

Kin is a cryptocurrency used for microtransactions in consumer applications. Millions of people earn and spend Kin across an ecosystem of more than 50 apps, making it the most commonly used cryptocurrency among mainstream consumers. Developers can add Kin to existing consumer applications with just a few lines of code, instantly unlocking a new monetization model. Developers are paid through the Kin Rewards engine, which is similar to Bitcoin block rewards, but it pays developers to let their users earn and spend Kin. Apps that integrate Kin include social apps, content platforms and games. Users spend Kin on content, tip creators, and buy in-game items, and earn Kin by watching ads or filling out surveys. Kin is a small and growing economy in a digital world where everyone is fairly compensated for their contributions.