Kinetiq Ends kPoints, Switches to Paid Claims; KNTQ Drops 23%

PANews reported on October 2, citing The Defiant, that Kinetiq announced it is ending its kPoints points mechanism and switching to a paid claim model. Users holding points have 10 days to participate in a token allocation totaling 50 million tokens at a price of $0.26 per KNTQ.

At this price, if the full allocation is claimed, the issuance could bring the project roughly $13 million in revenue. Meanwhile, KNTQ's market price fell 23%, as token shares that previously could be obtained simply by accumulating points now require actual payment.