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stdMatAlphaTestEnabled - 1
(make sure you keep "stdMatAlphaBlendMode" at "none" and don't set it to "blend", because this can cause some opacity issues with mostly opaque textures. That one is often best used with transparent textures, and not cutouts).
For the best result, use DXT5 when importing the texture, because it preserves the alpha a bit better (especially if there's transparency, but also if there are small cutout-details).