OKC (OKX Chain)
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Kommunitas & OKC AMA Recap

On April 1st, the Head of Partnership of Kommunitas, Jagad Bumi, joined a live Ask Me Anything session on the official OKC Telegram channel and answered questions from the OKC team.

The purpose of the event was to introduce Kommunitas to the OKC Community.

The following is a recap of the AMA.

Can you briefly introduce what Kommunitas is all about?

Jagad Bumi: Kommunitas is a decentralized and tier-less Launchpad built on Polygon Network. So, unlike any other launchpad, we don’t have any tier or level system. You can just participate in our Launchpad by staking any number of $KOM tokens. You can purchase $KOM on 7 exchanges then withdraw to your decentralized wallet and then stake your KOM at staking.kommunitas.net or you can buy on Quickswap or Apeswap. By staking KOM at any amount, you’ll be guaranteed to participate in our public sale. And if you stake more than 500,000 KOM, you can join our private sale.

You mentioned that Kommunitas is a tier-less launchpad. How will you calculate the allocation then?

Jagad Bumi: Okay, so. The way we calculate the allocation is very simple, the amount of KOM token you staked, will be divided by the amount of total KOM token staked at a given time.

For example, if you have 100,000 KOM tokens, and there are 1,000,000 KOM tokens staked at a given time.

So you will be entitled to 10% of the allocation for booster 1 and booster 2, and we have the third round which is a first-come, first-serve round (FCFS) and the FCFS round will be from both booster 1 and booster 2 will be allocated in this FCFS round and all of you can purchase

with a minimum and maximum number.

Kommunitas has many partnerships with many token projects, especially gaming. What motivated you to partner with these projects?

Jagad Bumi: Gaming and Metaverse are two hot topics in the Crypto space nowadays. As a launchpad, we are trying hard to follow the current trend in the market and present those opportunities to our holders. We believe this is just a starting point for Gaming and Metaverse projects and we shall see more big players dive into the crypto industry in the next 2–3 years.

Even Facebook has changed its name to become Meta and dedicated its resources to build the metaverse. I think that the famous movie “Ready Player One“ will one day become a reality.

Probably it will only take 3–5 years from today. and we are lucky enough to get to know this opportunity and we should not miss the opportunity. That is also the reason why Kommunitas is focusing on the Metaverse project for its Launchpad.

Can you share some details about recent major achievements done by your project?

Also, what are the future roadmap & targets of your project?

Jagad Bumi: Kommunitas' first launchpad/IKO project was FabWelt. It was in November 2021 and FabWelt trusted us with only $25,000 of target raise. In the following month until today, thanks to our hard-working Business Development team, we helped more than 45 Projects since November 2021 and raised more than $2.5 Million. ie: GeoPoly, SIW, Age of Gods, Light Year, Cherry Network, Universe Island, Plutonians, Affyn, Outer Ring, etc.

That is the major achievement done by our project so far. As for the future roadmap, we are going to make our own DEX / decentralized exchange, so that after a project successfully raises

some funds with Kommunitas, they don’t have to think about putting the liquidity with other Decentralized exchanges. So, yeah, we will also have a dedicated team to help the project in doing promotion. And yeah, for the DEX, hopefully, we can launch this at the latest by Q2 in 2022.

Kommunitas has quite interesting words about IKO. Can you tell me what is IKO?

Jagad Bumi: Okay. While other launchpads do IDO (Initial Decentralized Offering) and IGO (Initial Gaming Offering), We have our own way to express our Public sale/Launchpad project. We call it IKO,

which stands for Initial KOMmunity Offering. KOMmunity is what we call our supporters and KOM token holders. And I believe this term of IKO is getting more well known in the future along with our growth.

Are you planning to burn tokens to increase token value and attract investors to invest? So, what are your future plans with your tokens?

Jagad Bumi: Yes, at the moment we have 5 burning mechanisms.

1. When users unstake their KOM token before the maturity date, their KOM will be deducted a 20% penalty fee, and this 20% will be burnt forever.

2. When a user joins our Private Partners Group and sends any amount of KOM token, this will also be burnt later on. Once we get more revenue, we will be using some percentage of the revenue to buy back the token and maybe burn them too.

3. Social Engagement Burning, The First in Crypto Space, read more here: https://medium.com/@kommunitas/the-1st-social-engagement-burning-in-crypto-7773f26d88e8

4. Price Level Burning. Kommunitas is dedicated to burning a certain amount of KOM token if the KOM price hits a certain price level. We will do the burning together with our social engagement burning which will be done the latest by the 5th of every month.

5. $KOM from 40B to 2B tokens a reduction of 95%. Many $KOM investors have highlighted the issue of the total maximum supply of 40B $KOM. We have taken your feedback very seriously and have been racking our brains to find the best solution to address this issue. Read more here: https://medium.com/@kommunitas/reduction-of-total-supply-from-40b-to-2b-kom-ffab81522493

About OKC

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