Kinetiq has terminated the kPoints paid redemption, KNTQ fell 23%

According to The Defiant, Kinetiq announced the termination of the kPoints reward mechanism, transitioning to a paid redemption model. Users holding points have 10 days to participate in the distribution of a total of 50 million tokens at a price of $0.26 per KNTQ.

Based on this price, if the full allocation is distributed, this issuance could bring approximately $13 million in revenue to the project team. Meanwhile, the market price of KNTQ has dropped by 23%, as the token shares that could previously be obtained through point accumulation now require actual payment to acquire.