Kik announced its kin token will operate on both Ethereum and Stellar blockchains simultaneously using atomic swaps. Stellar will handle transactions with faster confirmation times and lower fees, while Ethereum maintains liquidity, allowing the messaging app to scale its cryptocurrency payments system.
Kik has decided to split its kin token across two blockchains: Ethereum for liquidity and Stellar for transactions. The decision follows concerns about Ethereum's high fees and slow confirmation times. Using atomic swaps, the company will lock kin tokens on one blockchain when they move to the other, maintaining a 1:1 ratio and preventing price impact. Stellar founder Jed McCaleb highlighted that Kik will be among the first mainstream projects using cryptocurrency meaningfully. The integration is expected to complete by Q2-Q3 2018 in two phases, starting with 900 billion Stellar-based kin tokens available for earning and spending within the Kik app.