Kommunitas AMA Summary Recap with Shin Chan Community
We held a live AMA with Head of Partnership, Jagad Bumi from Kommunitas on 23rd February 09:00 PM (UTC+8). Here’s the recap for those who missed it.
JH | Shin Chan: Before the ama start, Can you briefly introduce what Kommunitas is all about?
Jagad Bumi: it’s an honor to do AMA and introduce Kommunitas in this lovely community
Kommunitas is a decentralized and tier-less Launchpad built on Polygon Network. So, unlike any other launchpad, In Kommunitas, we don’t have any tier or level system. You can just participate in our Launchpad by staking any number of $KOM tokens.
JH | Shin Chan: Can you please tell us a bit more about Kommunitas, its features, its standout points and everything about it that excites you?
Jagad Bumi: As I told you in a previous question. The most exciting feature about Kommunitas is its tierless system.
At Kommunitas, we understand how frustrating it is when we don’t have enough capital to participate in any public or private sale.
Hence, we are changing the way for users to participate in launchpad. By staking KOM token, not only you will get guaranteed allocation for any public sale. You will also enjoy a juicy reward by staking KOM on our platform.
JH | Shin Chan: What’s the ultimate vision your project is trying to achieve in the crypto market?
Jagad Bumi: Yeah, of course it is. To be the biggest launchpad in the crypto space and to be the most successful bootstrapped project in crypto.
And yes, we are a bootstrapped project. We did not have any backers / VC backing up our project initially.
But now, we have managed to become our own VC and we did invest in many projects. Our ultimate vision is to give the opportunity and chance for people to be able to participate and support great projects at its early stage.
Apart from serving as a Launchpad, Kommunitas is also a one-stop solution for project owners looking to raise funds and get exposure to hundreds of regional crypto communities from all over the world.
If you have a great project and need an incubator? Do not hesitate to contact us. We established a $2-Million Incubator Fund to Support Promising Projects in the Crypto Industry. You can read here: https://medium.com/@kommunitas/kommunitas-establishes-a-2-million-incubator-fund-to-support-promising-projects-in-the-crypto-98de726c900
JH | Shin Chan: 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 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 their name to become Meta and dedicated their 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.
JH | Shin Chan: 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: Sure. 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 can close more than 30 great projects and help them to raise almost $1.5 Million in total.
Here’s our portofolio: GeoPoly, Solchicks, Age of Gods, Manarium, Light Year, Cherry Network, Plutonians, Affyn, and many more.
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.
Twitter Section Begins:
Q1: I’ve researched, $KOM rank #1182 at CMC & #1333 at CG, with 28920 holders, traded at 4 DEX & 4 CEX, nice ROI ($0.0019 to $0.0042). My question, what plan of $KOM Team to expand business in Pasific Region? (>40% of crypto investors are here)
Jagad Bumi: Well as your information, our biggest investor comes from the Pacific Region. How do I know that? I’m active on our chat group and I chat with them frequently. So I know very well where they come from. But I wonder, where’s the 40% come from? I never knew about that lol.
Q2: You see, all coins is red. I’m sure this phenomenon will be impacting people’s opinion about crypto. Undeniably, it’ll have an impact to your project as well. Is there any strategy to convince us (the part of ur commmunity) to stay?
Jagad Bumi: This is sad moment for all of us.
But to ensure Everybody Investment is safe with Kommunitas, our team has :
- Kept a lot of Liquidity to maintain price along the project
- Creating the best product possible. Because if product is good, nobody wants to sell as token raise in value and community increases.
- Kommunitas is partnering with one of the best Market Maker in the industry to ensure a smooth and organic growth of price overtime.
My best advice to ALL Investors — HOLD YOUR TOKENS
They will be worth a big value in a few years — Don’t think short-term. We will become one of the biggest launchpad in the Industry
Q3: One of the biggest problems is the problem of unfair allocation. How will a fair and proportional allocation system be ensured in Kommunitas? What are the precautions you take to avoid manipulation of the allocation process and what are your guaranteed allocation advantages?
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 for 10% of the allocation for booster 1 and booster 2, and we have the third round which is 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.
It’s a fair system and no manipulation. The more you stake, the more you will get allocation in our place.
Q4: KOM Launchpad only takes 100 KOM ($0.432) to get the Guaranteed Tier. Regarding staking, KOM also provides a fairly large Yield of 18%. What’s the reason KOM Team dare to gave it (very cheap and big interest) instead of other Launchpad ?
Jagad Bumi: To participate in IDO on other launchpads, users have to stake a lot of capital. That’s why we created the Kommunitas as a bridge for small investors. No matter how much you stake, you will be guaranteed on our public sale. We don’t have a tier system, Kommunitas is tier-less. The more you stake, the more allocation you will get.
Another advantage if you stake in our place, besides being able to participate in IDO. You will also earn 18% APY if you stake 30 days on our platform. And you will get APY 36% if you stake 90 days.
Why do we dare? Coz we’re just so generous lol
Q5: What is your strongest advantage that you think will make your team leading the market? In contrast, what is your weakness? How do you plan to overcome it? Which area are you focusing on at the moment?
Jagad Bumi: Our strongest advantage that we think will make our team lead the market is our honesty and our perseverance. If you have been following us since the beginning, you can tell that our team has always fulfilled the promises.
Another advantage of our team and our project is that our project is quite unique if we compare to other launchpads. We believe people will choose the fairest launchpad in the future, which is Kommunitas.
Our weakness back then was that we didn’t have any backup or venture capital behind us. But thanks to the hard work of the team. We have many partnerships with venture capital now. Our name is slowly becoming known among other credible launchpads. So we have overcome our weaknesses.
Telegram Live AMA Begins:
Q6: Security is the most important thing to consider when starting up a platform. How secure is this project for users and investors?
Jagad Bumi: As security is one of the most important points to take care of in the blockchain industry, Kommunitas is adding all security protocols required to ensure all will be secured for everyone.
We have passed a full smart contract audit by a company named TechRate. The detailed report can be downloaded in our doc here: https://docs.kommunitas.net/audit/techrate
And we also passed a smart contract audit by ShellBoxes. The detailed report can be downloaded in our doc here: https://docs.kommunitas.net/audit/shellboxes
Q7: kommunitas has quite interesting words of iko. can you tell me what is iko?
Jagad Bumi: This guy is explorer. I’m glad you bring the word of IKO here. 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 how 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.
Q8: Looking at the burning mechanism of Kommunitas, you have a unique social interaction burning event called Social Engagement Burning, which is announced every month. What did this activity bring to the project? Do you believe that this activity increases the social activity of users?
Jagad Bumi: Wow, you even know our one of burn mechanism. Actually we have 5 burn mechanisms. Here’s the complete details.
- 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 5th 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
Q9: According to your Roadmap this Q1 2022 you will activate the governance function. How will this system work? How many $KOM will we need to possess to be part of the governance and to be able to exercise our vote?
Jagad Bumi: We have planned to activate our governance function. Actually we have our governance function token, which is KOMV (KOMFEE) or KOM VOTING token. Users can get 1 KOMV token, when they stake more than 3,000 KOM. And they could not have more than 1 KOMV token. Our team is currently working on the governance function, so that later on, our user will have the right to vote whether YES or NO for the upcoming projects. And we are planning to have this governance function by Q1 this year.
Q10: How do you choose Great and Non Scam projects for your launchpad? What is the criteria of Kommunitas for deciding to accept new projects for its launchpad?
Jagad Bumi: This is really great question. We’re all aware DYOR terms. On Kommunitas we have conditions in order a project can raised fund on our platform.
For every project that IKO in our platform, we use this kind of valuation:
Content / Idea
Proof of Backers
And need them to fill our assessment form too (KYC Required). Even the dev undoxxing. They need to do KYC with us.
Quiz Live AMA Begins:
Q11: Users can stake $KOM on our platform for 30, 60, 90 days. How much APY will you get if you stake $KOM for 90 days?
Jagad Bumi: 36 %
Q12: Today on February 23, 2022, we are listed on the new Exchange. What exchange it is?
Jagad Bumi: Digifinex
Q13: What date our $KOM token release and tradeable?
Jagad Bumi: 20 July 2021
Q14: Which one is the correct of Kommunitas Smart Contract
Jagad Bumi: 0XC004E2318722EA2B15499D6375905D75EE5390B8
Q15: Kommunitas token built on what network?
Jagad Bumi: It’s POLYGON