Kite KITE

Commentary versus actual token vesting

Observed unlocking matches the tracked schedule but not the project's own white paper. The derived Day 1 float lands on Binance's stated figure exactly (0.000%) and the current position within 0.14% of DropsTab's — but only under terms the project has never published. The MiCA white paper's launch-unlock percentages are contradicted by the token's actual launch. It states 30% of Ecosystem and 60% of Modules unlocked at launch, implying 26.40% Day 1 float against an actual 18.00%. The Modules figure is the larger error: 60% versus an observed 0%, a 1,200,000,000-token difference — 12% of total supply. This is a discrepancy in a regulated-format disclosure document, not in a third-party tracker. The MiCA white paper also dates the TGE to 17 November 2025 — two weeks after Binance spot trading opened on 3 November 2025. The Modules bucket — 20% of supply — has no reliably derivable release schedule. No published term set reproduces the tracked position, and DropsTab's own duration × tranche size falls 7.50% short of the bucket. The 4-year unlock for Team and Investors runs from TGE, not from the cliff. This was ambiguous on the face of the disclosure ("1-year cliff with a 4 year unlock"). The 25%-at-cliff tranches — 500,000,000 and 300,000,000 — are exactly 12/48ths of each bucket, which resolves it: 48 months total from TGE, fully unlocked 3 November 2029, not 2030. An 8.00%-of-supply single-day release is 74 days away and appears in no project-published calendar. No delay, acceleration, governance amendment or redistribution was found — the token is nine months old and no insider unlock has yet occurred.