[Listed Coin Holders Used for Card Payback Rewards]
How would you feel if you received back about 10% of the amount you spent on your card? Wouldn't everyone in the world use that card? However, you must be careful, as if you do not know the source of this "payback" fund, you could end up being "rugged"—unable to recover your deposited assets—by relying solely on the payback figures without knowing the actual source.
[Types of Payment 1. Payback in Utility Coins]
As you can see in the banner, many payment services offer payback in utility coins. Gnosis Pay boasts a payback rate of up to approximately 5%, which means that if you spend 100 million won, you receive 5 million won back.
Question 1. You receive Movement coins when using KAST.
Uniquely among them, KAST provides Movement coins as a payback reward when you use the KAST card. While other payment projects at least have the justification of "activating their own ecosystems," in the case of KAST, as KAST payments become more active, Movement holders are watching their coin prices crash moment by moment as the circulating supply in the market increases.
I can explain this question later, but I view it as essentially a "circumvention sale of Move coins."
Question 2. Claims of selling at a loss are all lies. Why are they really offering such high paybacks?
The "mothers" in the market saying, "We're selling at a loss!" are all lies. If they were selling at a loss, they should stop doing business. In fact, most of this payback is simply returning the fees you originally paid.
Payment projects generate revenue through approximately three main axes. 1. When a user deposits assets for payment, revenue is generated by using those assets for yield farming or purchasing government bonds.
2. Revenue is generated through fees of approximately 1–2% proportional to the payment amount made by the user.
3. Revenue is generated through arbitrage and return fees regarding slippage that occurs when a user's coin is converted to fiat.
In reality, we are already paying a significant amount in fees, roughly 3–4%. It is essentially a form of returning what we have already paid.
Essentially, KAST (item 1) utilizes Movement coins as reward coins for yield farming (item 1), sells Move coins to receive fees (item 2), and serves as collateral for arbitrage (item 3).
This is a disaster for Movement holders. Move token holders are making sacrifices for the activation of KAST, which does not help the Movement ecosystem or the rise in the price of Movement coins at all.
