Put simply, what KAST has done here is rename “we’ll issue tokens later” to “we’ll talk about it later.”
Points stop accruing on November 30, and there will be no TGE. In the first week of December, eligible points will be converted into KPU (KAST Pioneer Units); those who don’t qualify will only get app vouchers. The official FAQ spells it out plainly: they’re not shares, come with no voting rights, can’t be sold, transferred, or traded, and have no guaranteed cash value. They’re just a “plan” for possible regular cash-outs in the future. You also have to confirm them in the app on time—miss the deadline and they’re void.
The timeline is even funnier. People dug up the old promises: first it was “a 2026 TGE,” then it changed to “points converted into tokenized equity or something similar, Q4 2026.” Now what we’ve ended up with is a virtual unit you can’t do anything with. One kind of points swapped for another kind of points—just a name change.
The real reason people signed up for the cards was the extra 1% in points on Premium card spending and 2% on Private. The people who helped bring others in got hit hardest. A longtime user with over 30,000 followers posted that he’d referred more than 100 people, spent $2,000 on a founders card, and swiped it every day to rack up points. He said the original pitch was a “ten-figure airdrop” for active users.
Ignas was being pretty polite about it: points that might be paid out someday, but don’t have to be, with no equity and no voting rights. To put it more bluntly, the project got your spending, referrals, and staking for free, and in the end doesn’t owe you a single cent. With points, the choice has been in the project’s hands all along, never yours.
If you’re still swiping those cards for the promise that “points will turn into a TGE someday,” work out whether the cashback you actually get is enough to cover the annual fee. Stop working for a pie in the sky.
#KAST #Airdrop