KARD Coin and Rewards Terms
KARD is a small community coin used inside the KARD app. These terms explain what it is, what it is not, how your wallet and spending allowance work, and how fee-funded rewards work. They are part of the Terms of Use.
Please read this. KARD is for using the community, not for making money. We make no promise that KARD has or will keep any value, it can fall to zero, and we give no financial, tax or legal advice. Only use what you are comfortable losing.
1. What KARD is
KARD is a coin on the Solana blockchain. It is used to post, comment and like, which keeps spam out and lets the community reward the people who make good posts. It does not unlock features, give ownership of or a share in KARD or its company, give voting rights, or entitle you to any payment.
2. What things cost
| Action | You pay | Goes to |
|---|---|---|
| Post (including sharing a showcase or listing) | 1 KARD | The community rewards pool |
| Comment | 1 KARD | The community rewards pool |
| Like a post | 1 KARD | 0.9 to the post's author, 0.1 to the pool |
- The cost is always shown before you confirm. These amounts can change; a change applies to future actions and is shown in the app.
- Amounts spent are final. They are not refunded, including when content is removed or an account is suspended.
- Daily limits apply to posts, comments and likes, you cannot like your own post, and each post can be liked once per member. New accounts have lower limits.
3. Your wallet and spending allowance
- Your KARD stays in a wallet that you control. KARD never holds your coins.
- To let the app settle your actions, you approve a spending allowance. KARD can move coins from your wallet only up to that allowance, only for actions you took in the app.
- You can change or revoke the allowance at any time from the wallet screen or from your wallet. If it runs low the app asks you to top it up, and if it is revoked your spending pauses.
- Actions feel instant in the app and are settled on the blockchain in batches, about once an hour. Coins you have spent but that have not settled yet are not available to spend again, and the unsettled amount is capped at 50 KARD per member.
- If a payment cannot settle (for example your balance or allowance is too low), your spending is paused and the amount is offset against coins you receive later.
- Blockchain transactions cannot be reversed. Check any address before you send coins to it. We cannot recover coins sent to the wrong address or lost with your wallet keys.
- You must not link a wallet that you do not own or that is on a sanctions list. External wallets are screened before they are linked.
4. Welcome grants and promotional KARD
- We may give promotional KARD, for example a welcome grant to members who verify a phone number. There is one grant per phone number, and some kinds of numbers are not eligible.
- Promotional KARD is spent first. It stays inside the app and is not on the blockchain until it is unlocked.
- At launch, promotional KARD unlocks when your account is at least 30 days old, you have received likes from at least 5 different verified members, and you have no open strikes. We may change or stop promotions.
5. Getting KARD
Where it is available, you can get KARD through a third-party service, for example by buying with a card through our payment partner or by swapping on a decentralized exchange. Those services have their own terms, fees and identity checks. KARD does not sell KARD itself. Which of these options you see depends on your platform and your region, and some apps, such as the iPhone app, may use a different way to pay for community actions or may not show KARD balances at all.
6. Fee-funded community rewards
- Part of the marketplace fee on each order goes to a rewards fund.
- In scheduled runs, approved by our staff (two different people for larger runs), that money is used to buy KARD on the open market in several smaller steps over about a day, and the KARD goes to the community rewards pool.
- The pool pays for things like welcome grants and the likes that members receive. Each run, with its transaction links, is published on the rewards page.
- The fund and pool belong to the community program, not to individual members. They are not a dividend, interest, or a share of profits, and we do not promise any amount, timing or result.
7. Risks
- The market value of KARD, if any, can change quickly and without warning, and there may be no one willing to buy it.
- Blockchains, wallets, exchanges and other third-party services can fail, be attacked, or be changed or shut down.
- Laws about digital assets are changing. We may need to limit KARD features in some places.
- During testing, balances on a test network have no value and are discarded.
8. Taxes
Receiving, holding, swapping or spending KARD may have tax consequences where you live. You are responsible for your own taxes.
9. Changes and availability
We may change these terms or limit KARD features to follow the law, store rules or security needs. We will tell you about material changes. See the Terms of Use for how.
Contact us
Questions about KARD or your wallet? Contact support.