The migration journey of the $KIN currency has seen another milestone hit, with the migration over to the Solana Blockchain nearly complete!
On the 15th of December 2020, the Kin Team announced they were kicking off the migration on Twitter. This came after a delay where originally it was planned for the 8th December, however was set back due to a Solana Outage. The team had to do a lot of testing as this is the biggest blockchain migration in history after all, with 55 million accounts to move across!
After a slow start the Kin team (which is actually the Kik Engineering team, don’t ask) ran into some hiccups but resumed migration on the 17th December 2020.
The power of automation seemed to kick in, with a massive jump in migration percentage from 0.5% to 15% later that day!
On 18th December 2020 the Solana migration percentage jumped up to 25%
Someone then found the “Turbo” button at Kin HQ and on the 19th December 2020 migration jumped again to 66.45%
Later on the 19th, 99.81% of the circulating supply of KIN was moved onto Solana.
If you want to read more about the Migration or have tokens on the legacy blockchains, please read the KIN Token Migration guide:
Check out the Migration in Realtime!
According to the Kin.Org website, there are 1,534,611,780,742 KIN in total circulation (~1.5 Trillion).
If you look at the Solana Blockchain explorer, you can see there is a fixed supply of $KIN of 10 Trillion. Approximately, 87.5% of this is locked away and ~12.5% disbursed into lots of smaller accounts.
Why did Kin Choose Solana?
Kin chose to migrate over to Solana as it had more decentralisation, had cheaper transaction costs, less congestion, a load faster and now has a bigger ecosystem (ie: SPL wallet support). Check out this article to read more: