Kommunitas May 2024 Monthly Report
Kommunitas May 2024 Monthly Report
Our May 2024 monthly report showcases the notable achievements during this period. It focuses on key initiatives such as Social Engagement Burning and DxLock immolation, while also providing a comprehensive overview of KOM liquidity across different exchanges.
Kommunitas’ 32nd Token Burn
We’ve burned a total of 345,830,957 KOM for the 32nd Token Burn, or Approximately 636,329 USDT at the time. This includes both our Social Engagement Burning and DxLock Burning. Let’s delve into our Social Engagement Burn as well as DxLock Burn.
Social Engagement Burn
During our 32nd Social Engagement Burn this month, we burned a total of 2,337,740 tokens. That’s equivalent to Approximately $4,301 worth of KOM tokens burnt. You may find the burn transaction here. Kommunitas employs a monthly social engagement burn mechanism as part of an innovative approach to manage token supply and potentially enhance its value through scarcity and deflationary tactics. This strategy links token value directly to user engagement and community involvement, providing an inventive way to synchronize the interests of token holders with the platform’s growth and visibility. By tying social media interactions to the burning process, Kommunitas encourages deeper and more significant participation from its community, building a more active and engaged user base.
Overall, Kommunitas’ social engagement burning mechanism is structured to create a more stable or appreciating token value by reducing supply uniquely while also encouraging community involvement.
1. X (Twitter)
Twitter no longer discloses the total number of profile visits, so we’ve opted to omit that from our calculations. Over the course of this month, we amassed a noteworthy total of 1,900,000 tweet impressions. Utilizing a multiplier of 1 KOM for each impression, this culminated in the burning of an additional 1,900,000 KOM!
2. Discord
In May, we warmly welcomed an extra 62 members to our KOMmunity on Discord. By applying a burn rate of 20 KOM for each new member, this translates to a total of 1,240 KOM burnt for the newcomers! You’re welcome to join our Discord and contribute to further KOM burning initiatives!
3. Private/Public sales and Partnership with our launchpad
In May 2024, our launchpad organized 8 public sales and established 1 new partnership, resulting in the burning of an additional 400,000 KOM tokens.
4. New Unique participants in our launchpad
In light of the introduction of our new unique participants section, we’ve pledged to burn 500 KOM for every fresh and distinct participant in our launchpad every month. For May 2024, we observed a total of 53 new unique participants in our Launchpad, allowing us to burn a total of 26,500 KOM!
That’s the end of our social engagement burn section, you may find the specifics and criteria of our KOM Social Engagement Burn here: Social Engagement Burning SEB, Monthly — Google Sheets
Coming up next is the exciting part of our monthly report! Following Kommunitas’ decision to reduce our max token supply of the KOM token from 40B tokens to 2B tokens, we have started burning the tokens that are vested from our DxLock contract, in order to reduce our max supply.
DxLock Token Burn
We’re proud to announce that we’ve burned 343,493,217 KOM tokens in May 2024! That’s Approximately $632,028 worth of tokens, at the current price of KOM! You can find the burn transaction here.
We’ll be reporting our DxLock Token Burn at the end of every month, so stay tuned! You can also read more about our max supply reduction here
KOM Liquidity Pool
Following that, we’ll delve into the segment that addresses the liquidity pool of $KOM across various decentralized exchanges.
KOM’s Liquidity across all DEXs
As previously mentioned, the total KOM liquidity on decentralized exchanges is currently valued at $458,421.00, experiencing a minor drop of $1,456 from last month’s total of $459,877.00. This minor decrease suggests that the market is beginning to recover from the crash experienced in early May, indicating a stabilization that could present broader opportunities for participation. There remains a significant chance to engage with this expanding liquidity pool. By farming KOM LP pairs on the designated DEXs, participants can generate returns.
About Kommunitas
Kommunitas is a decentralized crowdfunding ecosystem for web3.0 projects. Some might refer to it as a “launchpad” or “IDO Platform” but Kommunitas is aiming to build not only a platform, but more of an ecosystem.
Kommunitas not only provides fundraising for any type web3.0 projects from various blockchains (Ethereum, BSC, Polygon, Solana, Avax, Fantom, etc), but also other forms of support, such as Marketing, Community Management, KOL, VC Connections, SEO and even project development needs such as vesting portal and staking platform.
Since its inception, Kommunitas has introduced and pioneered many interesting concepts in the web3.0 industry. Some of them are Initial KOMmunity Offering / IKO (tierless, no barrier and decentralized IDO) and Social Engagement Burning (a way of rewarding the community by reducing the circulation supply of the token based on engagement metrics across social media)
Not only investors will get capital gains from their investment of public sale tokens, but they are also presented with the opportunity to earn passive Revenue Sharing in Stable Coins as well as in KOM tokens by holding and staking KOM tokens. (Read more about Revenue Sharing here: https://docs.kommunitas.net/staking/quarterly-revenue-sharing)
