Stablecoin payments platform KAST said it does not plan to launch a platform token. Instead, founder Raagulan Pathy said the company aims to convert user points into KAST Pioneer Units, which would be issued by a special purpose vehicle affiliated with KAST. Pathy said the structure has completed legal reviews across multiple jurisdictions and has received investor approval. Users are expected to be able to confirm the conversion in the app in early December. He also said KAST plans to hold regular redemption events, though the company cannot commit to any specific redemption amount, timing, or return. According to Pathy, the goal is to let community users share in KAST’s growth while avoiding the incentive misalignment that can come with a traditional token issuance.
Stablecoin payments platform KAST does not plan to issue a platform token, according to founder Raagulan Pathy. Instead, the company plans to convert user points into KAST Pioneer Units.
Pathy said the KAST Pioneer Units would be issued by a special purpose vehicle, or SPV, affiliated with KAST. He said the plan has completed legal reviews in multiple jurisdictions and has received investor approval.
Users are expected to be able to confirm the conversion through the app in early December. Pathy also said KAST plans to arrange regular redemption events, but the company cannot promise any specific redemption amount, timing, or return.
He said the company wants to use the mechanism to let community users share in KAST’s development while avoiding the misalignment of interests that may come with a traditional token issuance.
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