A decentralized ecosystem of digital services for daily life. The Kin Rewards Engine will use economic incentives to bring other digital services and applications into the decentralized Kin Ecosystem. Inspired by previous systems like Bitcoin’s block rewards1 and Steemit’s posting rewards,2 the Rewards Engine will create natural incentives for digital service providers to adopt Kin and become partners in the ecosystem.
The ecosystem will not impose any unnecessary restrictions or tolls on monetization strategies, beyond ensuring common ethics and legality of content and transactions. As more partners join, the network effect of the Kin Ecosystem will grow, building the value of the currency, and in turn encouraging new partners to join this initiative. A majority of the Kin supply will be allocated to the operation of the Kin Rewards Engine. Periodically, the Rewards Engine will unlock and distribute a specific amount of Kin to be shared among digital service providers in the Kin Ecosystem.
The reward that each partner receives will be proportional to a measure of the utilization of kin within that digital service. Such value will be assessed by a well-defined process that ensures the rewards are distributed fairly using an objective, performance-based methodology. Rewards will be transparent, auditable, and secure. The Kin Rewards Engine will initially be administered by the Kin Foundation. However, over time, it will be decentralized based on smart contract technology.