Fed Up With Its Fork of Stellar, Kin Is Looking to Move Onto Solana
The Kin Foundation is seeking to move the kin cryptocurrency onto the Solana blockchain, according to a proposal shared with CoinDesk.
Kik will pay $5 million in penalties as part of a proposed settlement with the SEC, which sued the messaging app last year.
A federal judge has ruled Kik's 2017, $100 million token sale violated U.S. securities law, and wants to see a proposal for refunds.
The Kin Foundation says both itself and the Kin token have survived the recently resolved court battle with the U.S. SEC over a 2017 ICO.
Kik's proverbial day in court may take a lot longer than Telegram's, if the judge’s response to the SEC during a hearing this week is any indication.
Devs, node operators and the Kin Foundation board have approved its move from a fork of the Stellar blockchain to Solana's network.