What is changing?
KAST Points earning will end on 30 November 2026. In the first week of December 2026, eligible Points will convert into KAST Pioneer Units (“KPUs”). Some users who are ineligible for KPU conversion will instead receive KAST reward vouchers they can use on eligible spending, as a thank-you for their early loyalty. Voucher details will be shared in the first week of December 2026.
Your email and in-app announcement explain which pathway applies to you. Country-specific eligibility requirements apply. Your December updated applicable program terms will confirm the details for your account. If the country of residence or other details on your account are out of date or incorrect, what applies to you may change.
Have my Points already converted?
No. This is an advance announcement. Points earning ends on 30 November 2026. Conversion will take place in the first week of December 2026. Your balance and the relevant next steps will be shared then. Your December update will explain any steps you need to take and the deadline for taking them.
Can I still earn Points?
If you currently earn Points, you can continue through eligible activity until earning ends on 30 November 2026, subject to the existing Points terms. This update does not expand who can earn Points.
How can I earn my final Points?
Open the KAST app to see the current ways to earn. If you are eligible, your qualifying everyday spending can continue to earn Points until 30 November 2026.
Will cashback continue?
Yes. Cashback continues, subject to the applicable cashback terms.
Why is KAST making this change?
Our early users helped build KAST by moving money, sharing feedback and bringing other people with them. We’re closing Points earning and introducing new ways to recognize that early loyalty, with the pathway available to each user depending on their balance and applicable eligibility requirements.
Why isn’t KAST doing a token generation event?
We chose not to pursue a token generation event (TGE). Token-launch outcomes can be highly variable and uneven, while short-term trading does not consistently create lasting value for the wider community.
We do not see a token launch as the best way to recognize our community’s early support for the long term. We believe this approach gives us a better foundation for recognizing loyalty across our community and building KAST for the long term.
What is a KAST Pioneer Unit?
A KPU is a KAST Pioneer Unit. Under the standard program, KPUs are issued by an SPV linked to Kast (the issuer) under the program terms. They are contractual rights under those terms, not shares or ownership interests in KAST or the issuer.
KPUs are designed to recognize eligible loyal users, with the potential for future benefits. Your applicable program terms will confirm the structure and requirements for your account. And, in the future, we plan to have periodic cash-out options available.
Who issues KPUs?
KPUs will be issued by an SPV linked to KAST under the program terms. The issuer does not hold or manage any money or assets on your behalf. Your December update will identify the issuer.
When will I see my KPU balance?
Your KPU balance, program terms the steps to keep your KPUs will be shared in the first week of December 2026.
How will my KPU balance be calculated?
Your KPU balance and how it was calculated will be shared in your December update, in line with the program terms
Do I need to pay for KPUs?
No payment is required for the conversion of eligible Points under the applicable program terms.
How could KPUs benefit me in the future?
Pioneer Units are designed to recognize eligible loyal users, with the potential to share in future benefits as KAST reaches important milestones. And, in the future, we plan to have periodic cash-out options available.
Are KPUs shares or an investment in KAST?
KPUs are not shares and do not provide ownership or voting rights. They cannot be sold, transferred or traded and have no guaranteed cash value or payment. Pioneer Units are designed to recognize eligible loyal users, with the potential to share in future benefits as KAST reaches important milestones. And, in the future, we plan to have periodic cash-out options available.
Can the economic value of KPUs change?
KPUs have notional economic value that may increase or decrease. This is not cash you can withdraw and does not guarantee a future payment. In the future, we plan to have periodic cash-out options available.
Where in the app will I see my KPU balance?
This will not be available until conversion takes place, which we will communicate with you in early December. You will be able to find the KPU balance under Rewards.
How do I keep my KPU?
Your eligible Points will convert into KPUs in December. To keep them, you will need to complete a short in-app acknowledgement by the deadline in your December update. That update will explain the steps. There is nothing you need to do today.
What happens if I do not complete the acknowledgement by the deadline?
Under the standard program terms, if you do not complete the required acknowledgment by the deadline, your KPU balance will be cancelled and you will not be able to receive future payments or benefits in respect of those units. Your former Points will not be reinstated, and no replacement reward will be provided, subject to applicable law.
Your December update and applicable program terms will confirm the consequences for your account.
If I receive KPUs, can I choose vouchers instead?
No. You cannot choose vouchers instead or exchange your KPUs for vouchers.
Why am I ineligible for KPUs and am receiving vouchers instead?
Eligibility for the KPU conversion depends on your Points balance, your KAST balance, country of residence and applicable eligibility, legal and regulatory requirements. If you received the voucher announcement, you are not expected to meet those requirements based on your current Points balance. Your December update will confirm the position for your account.
Instead, you will receive KAST reward vouchers you can use on eligible spending. They are a thank-you for being an early and loyal KAST user, and our way of recognizing your support even though you are not eligible for KPUs.
We’ll share your exact voucher details in the first week of December 2026. If the country of residence or other details on your account are out of date or incorrect, please update them, as this may change what applies to you. If you would like the eligibility decision for your account reviewed, contact Concierge.
What vouchers will I receive, and when will I find out?
We’ll share your voucher details in the first week of December 2026, along with the terms and instructions for using your vouchers. We’re not announcing voucher details today.
How can I use my vouchers?
Vouchers can be used on eligible spending. They are not cash and cannot be withdrawn. More details on how to use your vouchers, including any limits and expiry dates, will follow in December.
Is there a deadline for my vouchers?
More details on how to claim and use your vouchers, including any deadlines and expiry dates, will follow in December. There is nothing you need to do today.
What happens to Points from transactions that are still pending on 30 November
Any points earned up to and including 30 November 2026 will be part of the final conversion calculation in early December 2026.
Why does the US have its own program, and what does this mean for US users?
Different legal and regulatory requirements apply in the United States. KPUs are available to US users only through a separate US program, with its own terms, eligibility requirements, verification steps and timing. US users who are not eligible for, or do not complete, the US program will receive reward vouchers instead. We will contact US users separately with details.
What happens to my KPUs or vouchers if I close my KAST account?
You must have an open account in good standing to receive KPUs or vouchers.
Which countries are excluded?
Availability depends on country of residence and applicable eligibility, legal and regulatory requirements. Please refer to your personal announcement for the pathway that applies to you.
What if I am not eligible for the Pioneer Units program in my country?
Your personal communication will explain the position that applies to you. Your Points transition details and any action required will be shared in the first week of December 2026.
Will Points earned before 30 November count towards my conversion?
Yes. If you currently earn Points, you can continue earning them through eligible activity until 30 November 2026. Those Points will be included in the conversion calculation for your KPUs or vouchers, depending on your eligibility.
Do I need to complete KYC again?
We may ask you to confirm your country of residence or provide other information needed to confirm your eligibility. Any steps will be explained in your December update. Further verification may be required if applicable law requires it. Depending on your country, this may include additional eligibility checks before your KPUs or vouchers are confirmed.
What does remaining in good standing mean?
You must meet the account, AML, sanctions and other legal requirements described in the applicable program terms. Access may be suspended or lost where those terms and applicable law permit.