Kommunitas Refund Policy Updates
Since its inception, Kommunitas’ priority project and refund criteria has benefited our community on many occasions. One of the most critical aspects of our priority project rule is our refund policy, since it was introduced, we’ve processed refunds for all projects that fall below IKO price and meet the terms of refund.
The refund policy, or the 3rd point in the Kommunitas’ Priority Project rules states that: “If the price of the token falls below the IKO/Sale price before 50% of the tokens have been vested, Kommunitas will urge the project to perform a token buyback or large marketing campaign. If it fails and the price of the token is under IKO price for 3 consecutive days, Kommunitas will provide an option for refunds for the remaining allocation to investors.” Or, in simple terms, we guarantee at least 50% of your investment in every Priority Project on our platform.
Even though this helps protect our community on most occasions, we found out that we have not covered the price action right after the listing or sometimes refers to TGE / Token Generation Event and it always sparks questions from both our community/investors as well as from the project.
So, we would like to add 1 more rule, which is: “By the time of token listing, if the price falls below the IKO price for more than 24 hours within a 48 hours time-frame, we will open the option for a full refund.” As for the references, we will be referring to Dextools with H1 (hourly) Chart if the token is listed on both DEX and CEX simultaneously. Or we will be referring to the bigger CEX’s H1 (hourly) Chart if the token is listed on several CEX-es simultaneously.
How do we determine if the token falls below IKO price for 24 hours within a 48 hours time-frame? You might ask. Let’s look at 2 charts below.
We will open the H1 Chart and draw a line at the IKO Price. If within the 48 candles/bar, there are more than 24 (which is 25 or more) candles where the Opening AND Closing price is below the IKO price, then we can consider that the project has failed to maintain the price and we will open the option for full refunds (100% refunds). On the other hand, if there are no more than 24 candles where the Opening and Closing price is below the line of IKO price, then we can consider the project to have a successful listing and we will release the fund according to the percentage of the first vesting. However, the project would still need to maintain the price and should not break the rules of 3 consecutive days until 50% of their token is unlocked as stated in our 3rd point of Kommunitas Priority Project rules.
On the other hand, if the project is not a Priority Project or if the vesting schedule is 50% or more (50–100%) for the first vesting, then the 3 consecutive days rules will not be implemented.
Kommunitas is a leading Launchpad in innovation and features. With our updated priority project criteria, we’re proud to say that we have the most robust and comprehensive refund policy in the entire industry. But that’s not all, Kommunitas will continue to innovate and build to provide the best launchpad experience for our users.
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 of 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, 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)
