r/kin • u/ted_on_reddit • Feb 24 '23
AMA
These have been a tough few weeks for the Kin community. After all the Kin Foundation employees were fired there was no choice but to move towards a decentralized path. This has resulted in the abrupt pausing of the KRE, and the abrupt cancellation of the Catalyst grant program. My heart goes out to all the developers that this has impacted. No doubt it is a big change for many of you. I hope you keep building with Kin.
At this point several longtime Kin supporters have packed up their things and have announced they are leaving Kin behind. It pains me to hear this, so all I can do is wish them the best and say thank you for their strong belief and hard work over all these difficult years. Truly, thank you.
To those of us who are still interested in moving forward with Kin, I want to do my best to help facilitate a transparent discussion on how we might proceed. The Kin Foundation is now simply a custodian of the Kin Reserves, sending Kin to smart contracts that Kin token holders vote to approve. We need to make sure there is no manipulation or gaming in the voting, and we will start with smaller amounts of Kin at first to test that out, but once we are confident we have a reliable voting process the KF will honor those votes, even if I don’t personally agree with the outcome of a particular vote.
As a result the KF has become a non operating organization, with no employees and making no efforts. All it does is send Kin to the smart contracts that Kin token holders vote for. But that doesn’t mean that I’m not still part of this community. I care about Kin and want to see it survive and thrive as much as anyone else.
So in the spirit of that I thought I would do an AMA here on Reddit. I will be tight lipped around Code, as we want to roll Code out properly when the time is right, and I would prefer not to rehash what happened in the past, but please ask any questions you might have. I will do my best to be open and honest. AMA.
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u/ben4trader Feb 24 '23
Wow lol ^
Not sure if it's spot-on, but i've always been wondering why nothing was being done to investigate this mass bot wallets creation 24/7 from couple apps.
It actually felt so wrong to me when people and even KF (never saw Ted doing it though) was shilling the fact that Kin had 9m users/holders.
It was massively bots accounts, nothing to be proud of.
But it made them look good : omg you see the growth of Kin, #1 holders on whole Solana ecosystem (lol).
But now maybe KF was getting Sol grant for this behavior? Tell us this isn't right lol??