ercaninc.base.eth

On the email users got, about converting points for KAST Pioneer Units. Let me say this, and then will leave it for you to absorb. —- First - We are super limited in the language we can use, because of country-by-country rules. Use that for context, in what we released. Second - We didn’t just come up with some program out of thin air. The conversion of points to KAST Pioneer Units, came after a long and super expensive process with Tier 1 law firms, and with approvals from investors to create this setup. It literally cost us millions just to setup. We got legal opinions on dozens of countries. Obviously, we would only do this because we are really trying our absolute best to create a strong program for the community. Third - Just to reconfirm. The KAST Pioneer Units, will be issued by a KAST-linked SPV. This is the only practical step for issuance globally. The points will convert to the KAST Pioneer Units. There will be periodic cash out events. We can’t legally promise you the amounts, the dates, whether it goes up or down. No surprise in that. But we are putting in the hard work, so the community gets an outcome aligned to the success of KAST. The only thing you have to do, is quickly accept the conversion, details early December in app. Fourth - Why is there no token? Because no single project in the crypto card or Neobank space in history, has ever delivered a token which is not down. Tokens are almost always not aligned to the community. The founders and team most often end up with a treasury they wholly control, they along with investors cash out, and the token holders deal with the volatility and the ultimate decrease in price. By not launching a token, our team and investors get none of that optionality. They stay locked in equity. To date, I have personally only net purchased equity in KAST and never sold. Launching a token completely counter to our ambition to build a $100B+ company. We believe the KAST Pioneer Units will be the best long term outcome, and in time people will realise this. Finally - We understand that in a market which is very far down, many are looking for anyway to cash out. We get it. There is real pain in crypto prices, many have seen their wealth fall substantially. But still strongly believe the KAST Pioneer Units, issued by the SPV, will ultimately prove to be the right decision. Time be our witness. Thanks all. (Note: I won’t respond to most comments, as I’m keeping to approved language)

Hibachi points end on November 8. Hibachi started with a mission to bring privacy, speed, and performance to perpetual trading. $10B in volume later, that mission has grown into something much larger. FX moves $10T a day on T+2 settlement, behind credit lines and a concentrated banking system that limits access to liquidity. Stablecoins settled $46T last year, near-instantly, around the clock. Those two systems are converging, but the exchange infrastructure to connect them doesn’t yet exist. That is the venue Hibachi is building: the institutional-grade exchange for stablecoin-native FX, spanning perpetuals and spot. To everyone who traded, referred, and stress-tested the product from the first day: thank you. Your activity built the foundation this next phase stands on. Note: Rewards may be associated with social or trading activity after points have ended.

ice and stan druckenmiller backing @tradexyz’s plans to bring hyperliquid perps to the US… now elon musk interacting with the news 💥 $hype getting closer to $100. perp szn is heating up and this could spill over to other potential plays like $var + $xten… others too 👀