kms

A little over 1 day into this, it’s vital to set the record straight: The communication about this claim could’ve been way better and for that, I take full responsibility. The allocation is now >41% claimed in a single day (fully unlocked, no vest), this tells us that even despite the thousands of pundits today, participants have been extremely receptive to the long term oriented mechanics of this program. This was never publicly disclosed, as there’s been no point to it for over a year, but Kinetiq received a $20m term sheet at $250m ($0.25) last year prior to KNTQ genesis. That sounds great on paper, until you realize that this would’ve essentially crushed the public economic value of the project, by creating ridiculously predatory vesting schedules that would’ve made Kinetiq (KNTQ) un-investable for years to come, which is the bane of the existence of essentially every other protocol in our singular category at the time. This would’ve been an unacceptable outcome to us, hence swiftly declined. Proof? Ask @wassielawyer who was kind enough to personally review each term sheet. Instead, we chose to follow through on the precedent Hyperliquid set by distributing 25% of the protocol after what was likely the shortest points program ever. You may feel that your trust in Kinetiq and our team was misplaced, but we’ve followed through on everything we said we would, and will continue to do so - whether you’re here or not. Regardless of how you felt about today, I (we) appreciate all of your commentary. The good, the bad, the ugly. The mission remains unchanged, and the vision ever more clear.