Umbrella Network
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Umbrella Network

Umbrella Announces Partnership with Kommunitas, a Community-Driven Launchpad

Umbrella Network is pleased to announce a partnership with Kommunitas — a decentralized, tierless launchpad built to support projects across multiple blockchain networks.

TL;DR

  • Umbrella Network and Kommunitas have entered a partnership to support Kommunitas’ goal of building an elaborate portfolio for its community using affordable and verified data solutions.
  • Umbrella will provide Kommunitas with a verified price feed for its token $KOM as Layer-2 data.
  • Kommunitas has a vision to build its own DEX (decentralized exchange), which naturally paves way for numerous collaboration opportunities between Kommunitas and Umbrella Network.

Since its inception in January 2022, Kommunitas has launched over 30 projects including those in their early stages — a category much sought after by the crypto community. Kommunitas allows for the accelerated and seamless launch of projects by eliminating KYC verification.

A multichain-oriented launchpad, Kommunitas’ mission is to offer fair crypto investment opportunities to both small and large investors as well as to stage top-notch projects on its decentralized platform.

Kommunitas’ uniqueness lies in its tierless structure which ensures that participation in projects is affordable via low-barrier entry points for buying, holding, and staking $KOM. As such, it has potentially disrupted the existing launchpad ecosystem where token transactions and project participation are expensive, token availability is limited, and hence just a minuscule percentage of prospective buyers get the opportunity.

A community-driven launchpad inspired by its Binance counterpart, Kommunitas now launches an average of 2–3 projects every week from domains such as gaming and DeFi.

Kommunitas ensures intelligent allocation of $KOM based on investor potential. Users can easily determine their token allocation eligibility using a calculator on the Kommunitas website.

Kommunitas is committed to:

a) maintaining $KOM’s relative affordability,

b) ensuring the stability of the token via controlled staking in the form of three locking period options and,

c) protecting investors through a well-structured insurance system of a partial or full refund of tokens as appropriate.

Kommunitas already has a clear view into its future — one of its main objectives is to bring premium projects to its audience and thus attract large investors. Another goal is to build a native DEX for projects to host their liquidity and undertake expansions.

Additionally, Kommunitas plans to develop a smart contract platform where projects can raise funds only on the basis of them achieving their roadmap milestones, thus ensuring project progress transparency to investors.

With a wide range of options and benefits for the community in mind, Kommunitas approached Umbrella Network to explore a mutually beneficial partnership. Umbrella will provide them with price feeds for their $KOM token as well as price feeds and data solutions for each of Kommunitas’ partners.

John Chen of Umbrella Network said,

“We’re thrilled to welcome Kommunitas onboard as a strong launchpad for multi-chain projects. We look forward to providing them with an oracle price feed and to be a resource for their portfolio projects as well.”

Robbie Jeo, CEO of Kommunitas, said about this partnership,

“We are excited to engage in a partnership with Umbrella Network. Umbrella’s reliable data solutions are a powerful means to fuel our ongoing launch efforts. Kommunitas will be able to access $KOM price data and similar support for each of our partners. Umbrella’s decentralized data feeds are instrumental in our journey as a premium launchpad.”

About Kommunitas

Kommunitas is a decentralized, tierless launchpad that supports projects based on multiple chains such as Polygon, Binance, Ethereum, Avalanche, Solana, etc.

About Umbrella Network

Umbrella Network is a scalable, decentralized, and community-owned oracle that utilizes Layer 2 technology to integrate real-time data into smart contracts for accurate and timely reports. Umbrella Network brings the world’s data to blockchains to enable DeFi applications to perform at the optimum level regarding precise information dissemination. It believes a decentralized oracle is paramount to creating a truly decentralized financial space.

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