KAT (KAT)

Friday on The Hangout, I dropped my unfiltered thoughts about the newly introduced 80% exit fee implemented by @katana for vKAT at TGE I was going to post these clips on Friday but I decided to wait and give the team the benefit of the doubt. After today, I have no trust in their team. Changing the exit fee from 25% to 80% is unacceptable especially after delaying the supposedly immutable KAT transferability date. In this first clip, I lay out what the announcement was saying and how I felt about it (part 1 of 3) 👇

There's some FUD and confusion on the timeline relating to @katana and the exit fees. If you're a Kaito Yapper and you want to sell your rewards immediately, all you need to do is unstake your vKAT on day one. If you unstake on day 1, you will join the unstaking queue. After 60 days you'll take a 2.5% haircut, and then you can sell your $KAT. We've known from day one that vKAT was locked, and thus it would need to be unstaked before selling. So this shouldn't come as a surprise. If people don't want to unstake and wait 60 days, and they want to instant exit, depending on which epoch they are in, they will incur an exit fee starting off at 80%. As for the price and the dollar rewards from farming and yapping, yeah, unfortunately, the market is shit right now. There's conflict in the Middle East, and there's no appetite for altcoins. So unfortunately, the pre-market price for Katana is lower than we all would have hoped for, but there's nothing anyone can do about that. That's the nature of the markets.

Pre-staked my KAT into avKAT on Katana. 35% yield floor for 60 days, 3x rewards, 3x voting power. Founding Staker status secured ⚔️ https://t.co/NO0jJqENpa

I still see a lot of confusion. If you used the product, all the $KAT you earned from farming is fully liquid upon TGE. If you yapped about the product, originally there was always going to be a 25% exit fee - now that fee increased to 80%. For yappers: The bad news: > 55% increase in exit fee if you wanted to dump on day 1. No way to sugarcoat that, for yappers that want to insta dump - they've been hugely penalised. The good news: > As a yapper who holds vKAT, you'll earn $KAT from early exits + conventional emissions rewards That's all there really is to say, if you used the product, you have nothing to consider, you can sell anytime you want as all $KAT is fully liquid. If you wanted to instadump your $KAT on TGE, the teams just made that prohibitively too costly, by slapping an additional 55% exit fee on top. Objectively, this change by the team last minute is wrong. Subjectively, I don't care as I think all things considered it's not that bad vs other things i've seen + we don't know how the