JAKARTA, INDONESIA / ACCESSWIRE / May 3, 2022 / Since its inception, Kommunitas's goal has always been to become a community-oriented Launchpad that can allow a wider range of people to safely participate in IKOs (Initial KOMmunity Offering, read here) as well as to strive to make improvements upon existing Launchpads to better serve the interests of our community.
After much internal discussion, we have felt the need to implement a new feature that will help our investors identify projects that have passed a set of rigid terms which will help better safeguard the funds of our investors and provide them with more confidence before investing.
As part of our strive to provide our community with more assurance when they choose to invest with us, we have decided to launch "Kommunitas Priority Projects" to help identify projects that have passed our due diligence, as well as agreed to and passed a set of more stringent criteria, in addition to our usual criterion such as performing KYC on the project's team and only releasing the funds for IKOs at least 48 hours after a successful listing of the token. More information about the criterion will be provided below.
Do note that we can be a bit more flexible and forgiving with our terms if a well sought-after project with large demand from our users or with Tier 1 VC/Corporate Backers are unable to meet the full set of conditions due to certain reasons, but they have to pass the most important terms relating to the safety of our investors' funds. And like always, this is up to our community to decide.
Projects which have been branded as a "Kommunitas Priority Project" will be identified by a star emblem/symbol on their project card and they have to agree to the clauses below.
Kommunitas Priority Project Criterion:
- The project will have to send the full amount of tokens to our vesting contract prior to TGE, thus lowering the risk of vesting delays.
- The funds raised will be released to the project according to the vesting schedule. For example, if a project vests 15% of the tokens every month, we will only release an equivalent percentage of the funds to the project at least 48 hours after each vesting.
- 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.
- The project will have to provide liquidity in a 1:1 ratio in relation to its Initial Market Cap (IMC). For example, if a project has an IMC of $500k, it will need to have $250k of liquidity in USD + $250k of liquidity in the token.
- The liquidity of the token will have to be locked with a reliable third party (e.g. DxLock).
- The Team's tokens will have to be locked up according to the vesting schedule. This includes any and all tokens for marketing, advisory, etc.
- The token's contracts will need to be audited by a dependable audit firm, to prevent any vulnerabilities or intentional loopholes in the code.
- The listing date of the token must be within 14 days of the IKO And Kommunitas reserves the right to provide refunds if the listing is postponed.
If any of the terms above are not met by the project after IKO, we reserve the right to refund all the funds raised from our community.
We hope that the implementation of this feature will help provide our investors with more assurance and help improve the quality of projects on our platform. Thank you to everyone for your constant support.
If you have any additional suggestions or feedback, we would love to hear them! Simply drop them in this form and our team will try our best to take a look and work on it.
About Kommunitas
Kommunitas is a decentralized and tier-less Launchpad. Kommunitas is the solution for Multi-Chain oriented projects. Kommunitas welcomes projects from various blockchains such as Polygon, BSC, Ethereum, Avalanche, Solana, etc.
Not limited to only Public Sales, Kommunitas also offers projects a wide array of other funding methods, ranging from Seed rounds to Private rounds and Strategic Rounds. We also offer a list of marketing services that can boost a project's popularity. Kommunitas is ready to serve a project from community management to graphic design and content creation.
Kommunitas firmly believes 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's exposure within a short period of time.
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Contact:
Robbie Jeo
[email protected]
https://www.kommunitas.net
SOURCE: Kommunitas