ICO? IEO? IDO? IGO? IKO! Kommunitas Proudly Presents the World’s First Initial KOMmunity Offering (IKO)!
Fundraising through the issuance of cryptocurrencies have evolved through the years. From the early days of Initial Coin Offerings (ICOs) which was conceptualized in 2013 and popularized in 2017 during the previous crypto bull market, different innovative methods of fundraising mechanisms have been carried out, ranging from Initial Exchange Offerings (IEOs) where fundraising is carried out on Centralized Exchanges (CEX), Initial DEX Offerings (IDOs) where fundraising is carried out on Decentralized Exchange Platforms (DEXs) such as Uniswap, Sushiswap, Pancakeswap and Quickswap, and the more recent model of Initial Game Offerings (IGOs) where projects allow gamers to pre-purchase titles before game developments are completed, hence raising funds in the process.
IDO launchpads have also spouted over the years to support early-stage projects in their fundraising efforts, tapping into their own strong network of community members and investors and offering a range of expertise such as consultation, strategic management, planning and marketing to bring such projects over the line.
One of the major drawbacks of IDO launchpads is that the current models run on a tiered system. Investors of the IDO launchpads are classified into different tiers where investors holding more of the launchpad’s tokens are placed in a higher (or more exclusive) tier than investors holding fewer tokens. Hence these larger investors have access to a larger pool of tokens of the new project, i.e. they are able to invest more in a new project launched on the IDO launchpad which they have invested in. If investors of these launchpads are unable to hold a minimum number of tokens to be classified in the lowest tier, then they will not be able to participate in the IDO, leading them to miss out on potentially good gains. Moreover, the criteria in which how the tiers are classified may also change. An investor holding a certain number of tokens of an IDO launchpad may be in Tier 1 today and wake up the next morning finding out that the same number of tokens of the launchpad which he has puts him in the Tier 2 group of investors.
Introducing the World’s First Initial KOMmunity Offering (IKO)!
Kommunitas aims to address all inefficiencies associated with the tiered system of conventional IDO launchpads. At the time of publication of this article, there are more than 29,000 $KOM token holders, whom we affectionately term as “KOMmunity”. In order to increase transparency and reward the entire KOMmunity, we are delighted to present the Initial KOMmunity Offering (IKO), the first of its kind in the world!
How are we different from the rest of the IDO launchpads?
1. We are a tierless launchpad, which essentially means all $KOM holders have a chance to participate in IKOs based on their comfortable level of investment, without having to stress about holding a minimum number of $KOM to be accepted in the new project.
2. The more $KOM holders stake their $KOM on our staking platform (with an APY of as high as 60% per this writing), the higher their allocation for the new project. Every $KOM staked on our platform will count towards the $KOM holders’ final allocation for the new project.
How does each IKO work?
1. There will be 3 rounds (or we call it Booster) for each IKO — Booster 1, Booster 2 and Booster 3.
2. Before an IKO starts, there will be 2 period. The first is Registration or Staking Period. In this period, Kommunitas will make announcement of a project, and will let KOMmunity to stake their KOM token in https://staking.kommunitas.net. The allocation for each investor is calculated based on the proportion of the total number of $KOM which he has staked on our staking platform compared to the total number of $KOM staked by the KOMmunity during the registration period. This Registration Period normally ends 6 hours prior to the start of Booster 1.
3. After Registration Period, there will be Preparation Period. In this period, user can connect their wallet and see their allocation or how many tokens they can purchase in the Booster 1. Preparation Period normally last for 6 hours and user is given chance to refill their wallet with USDC (Polygon) needed to purchase the token.
4. After Preparation Period, the IKO will commence. This first round is called Booster 1, and user will have 4 hours to made purchase in this Booster 1 (Round 1)
5. As we recognise that not everyone from the KOMmunity will invest in all new projects, any unsold tokens of the new project from Booster 1 will be allocated to Booster 2. The price of the token in Booster 2 may be higher than that in Booster 1, and will last for 4hours as well.
6. Similarly, any unsold tokens of the new project from Booster 2 will be allocated into Booster 3, which we now term as “FCFS Round”. In this FCFS Round, everyone can purchase tokens of the new project on a first-come first-served (FCFS) basis with a minimum and maximum purchase amount and with the token price being higher than in Boosters 1 and 2. The Public Round will last for 4hours too.
7. This means that each IKO will last for a maximum of 12 hours.
For purposes of clarity, assuming if the proportion of tokens Mr. A staked on our staking platform represents 5% of the total $KOM staked, and if the total number of tokens offered during an IKO is 1 million tokens,
(a) In Booster 1 — Mr. A can purchase up to 50,000 tokens (5% * 1 million tokens).
(b) Assuming 700,000 tokens were sold in Booster 1, this meant 300,000 tokens were unsold.
© In Booster 2, Mr. A can purchase up to 15,000 tokens (5% * 300,000 tokens).
(d) Assuming 200,000 tokens were sold in Booster 2, this meant 100,000 tokens were unsold.
(e) In the Public Round, 100,000 tokens will be available with a minimum and maximum purchase amount, based on a FCFS basis.
This system ensures that none of our KOMmunity members will be left out, and all will be given an opportunity to invest in new projects which have passed our stringent vetting requirements.
Kommunitas. For KOMmunity. Stay Tuned for our 1st IKO!
This article is composed and written by one of our Private Partners member, Shout out to WM! we really appreciate your help! — Robby Jeo
Kommunitas is a decentralized and tier-less Launchpad. Kommunitas is the solution for Multi Chain oriented projects. Kommunitas welcomes project from various blockchain like Polygon, BSC, Ethereum, Avalance, Solana, etc.
Not only a Launchpad, Kommunitas also offers project a wide variety range of funding, starting from Private round, Strategic Round, and we also offer list of marketing service that can boost a project’s popularity. Kommunitas is ready to serve a project from community management to those related to graphic design and content creation.
Kommunitas firmly believe that with its connection to dozens of regional crypto communities and influencers, as well as several blockchain companies and Capital Funds / VCs, Kommunitas can help to boost a project exposure in a short period of time.