Kinetiq terminates kPoints points mechanism and switches to paid claims, KNTQ drops 23%

Odaily reports that Kinetiq has announced the termination of the kPoints points mechanism, switching to a paid claim model. Users holding points have 10 days to participate in a token distribution of 50 million tokens at a price of $0.26 per KNTQ. If the entire allocation is subscribed, this distribution is expected to generate approximately $13 million in revenue for the project team. Following the announcement, the price of KNTQ dropped 23%.