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Kin Foundation Burns 71% of Total KIN Supply in Move Towards Full Decentralization

Kin Foundation, the organization responsible for the Kin protocol, has completed a vote to burn a significant portion of the total KIN supply. The vote was proposed by Ted Livingston, founder of Kik, who suggested fully decentralizing the Kin protocol.

After the vote, Kin Foundation will burn 4.96 trillion of its KIN reserves, and Kik will burn another 2.1 trillion, making up almost 71% of the total supply. Livingston believes this move will make Kin the only meaningful cryptocurrency on Solana that is fully decentralized, with no inflation, no foundation, and no website.

Kin Kin $0.00
-7.8%
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