$958M in spend volume over such a short period doesn’t happen organically.
You need a strong incentive to grow that fast, which is why they introduced the high points/cashback system ahead of the expected TGE.
Users weren’t trying to “support the business.” They were simply counting on a specific outcome - a token, or at least something liquid with real value.
Big funding rounds aren’t raised on a good product and organic growth. Unfortunately, everyone wants results here and now, and a quick return on investment.
From here on, everything will depend on the
@KASTxyz team and the product. If the product is genuinely strong and volume holds up without the rewards, this decision could turn out to be beneficial.
But if volume drops significantly, we saw $121M in October - investors will start questioning how much of the growth was organic versus incentive-driven, which could hurt trust in the team.
It’ll be interesting to see the November numbers.