DeFi Komunitas Review

About DeFi and Komunitas

Within the last several years we have seen a plethora of blockchain projects emerge with varied visions and ambitions. The crucial aim of most blockchain projects is three core facets: decentralization, security, and scalability.

Decentralization: Ensuring redundancy in the network and disabling a few entities to centralize their powers to control the network.

Security: The ability of protection to all the data held on the blockchain from different attacks and hacks. It can also be defined as blockchain’s defense against double-spending.

Scalability: Whether the blockchain is able to accommodate a higher volume of transactions without faltering by increasing fees and transaction times.

You can read and discover more about blockchain technology in our wiki blog post Blockchain – The Beast Has Awaken To Revolutionize The World Unpredictably

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Nonetheless, there is a certain obstacle that most blockchain projects are faced with, i.e. Ethereum co-founder Vitalik Buterin described it as a “Blockchain trilemma”, i.e. the inability of blockchain to fulfill all the three most important concepts decentralization, security, and scalability and always compensate between the three. It is hard to achieve this and address all the challenges developers face in creating a blockchain that is fully decentralized, secure, and scalable at the same time. This is why, developers are forced to make trade-offs by letting go of one aspect of the three core concepts, hence the inability to achieve the three concurrently. For instance, a blockchain that is highly decentralized and secure will have to compromise on its scalability ambitions.
Overcoming the blockchain trilemma is an impossibility for many industry players, especially soon. Because of this, many issues appeared, related to data privacy, network congestion, transaction cost, ease of use, and ease of integration into traditional services. As a result, the net impact is the constrained community of builders in the blockchain ecosystem.
For experiencing blockchain trilemma we can highlight a few major blockchains. Ethereum: As one of the leading blockchains in terms of decentralization and security is one of the projects that still continues to struggle with scalability issues. Because of the inability to scale Ethereum has become not only slow but also expensive for users. For instance, in the wake of the rise of Decentralized Finance (DeFi) applications, Ethereum has faced multiple problems on its ecosystem, significantly pushing the transaction fees to a point where they become prohibitive for many people to interact with the platform.
Bitcoin: Emphasizes decentralization and security over scalability as a blockchain.
Ripple: Prefers security and scalability over decentralization as a payment solution provider blockchain.

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Binance Smart Chain (BSC): This is an emerging blockchain that is solving the scalability issues at the expense of decentralization. Obviously, a ‘corporate chain’, BSC  validation process has been termed as shady with suspiciously low fees. Others look for solutions to the problems with the two largest smart-contract-based chains such as Houbi Eco Chain and Matic Network. And from all of this, it is evident that there is no winner as each of them is valid for some reason or the other, and investors move their assets by choosing the one that suits best their expectancies and needs. However, blockchain trilemma is often just stated as a rule, which is not the case, as has been shown by many emerging projects that manage to achieve the three facets of decentralization, security, and scalability. In the case of a new project and its sale phase, the similarity of the blockchains and the single-chain limit make it limited to having to choose which chain to ground its work on, giving up the benefits of a Multi Chain based sale, but also limiting investment opportunities for people on other blockchains. Enter Kommunitas, the world’s revolutionary protocol focused on changing the game, completely!

What Is KOMMUNITAS (KOM)?

Defined as a decentralized and tier-less Launchpad, Kommunitas is the solution for Multi-Chain oriented projects. Kommunitas is compatible and welcomes projects from various blockchains such as Polygon, BSC, Ethereum, Avalanche, Solana, etc. What are the advantages of the Kommunitas Platform:

1. Multi-Chain sales

Kommunitas is revolutionizing fundraising in the digital ecosystem with our seamless platform which strives to help developers in their quest to raise funds for their projects. Komunitas aims to expand the fundraising horizon through its platform and defeat the single-chain limit observed in many other launchpads. Attract investors from all walks of the crypto community through Komunitas’s multi-chain protocol (ETH, BNB, HECO, and MATIC).

2. Tier-Less System

With no tiers and barriers to entry, the amount of allocation a user receives is proportional to the amount of $KOM they stake. What this means is that all $KOM holders will have a chance to participate in the Komunitas Launchpad, regardless of their comfortable investment limit, ridding them of any stress caused when they’re required to hold a minimum number of tokens so they can participate in a Public Sale.

3. Ability to Stake

Komunitas users will be able to stake their $KOM tokens directly from their browser wallet on their staking portal https://staking.kommunitas.net/. There are three staking durations that stakers can choose from—with longer durations bringing considerably more interest. At the end of the staking period and as a return, they will earn a juicy amount of interest, paid out in $KOM. Staker’s guaranteed allocation during Token Sales is determined by the amount of $KOM.

4. Governance Function

Future developments of the project would be votable by KOM token holders. At the time of writing, the requirement to partake in voting is only 3,000 KOM. With this approach, each holder with at least 3,000 KOM will receive one right to vote and be able to help determine the future development of the project and other possible projects that will be launched on the Kommunitas Platform.

How Many KOM Tokens Are There in Circulation?

Launched on 20 May 2021, Kommunitas at first created 40 Billion KOM tokens, and on 23 January 2021 their max supply has been reduced from 40B KOM to 2B KOM, and this is their practice,  burning the tokens in their DxLock contract when they are vested, at the end of each month.

Komunitas also provides updates on the burning, together with their monthly report. You may read more about the reduction of their total supply here: https://medium.com/@kommunitas/reduction-of-total-supply-from-40b-to-2b-kom-ffab81522493

They have also locked their liquidity on QuickSwap with DxLock. Until 1st Aug 2023, the liquidity will be locked for 2 years in total.

Check on that lock by visiting this link: https://dxsale.app/app/v2_9/dxlockview?id=0&add=0x2486f308919F93B85477C65E37247190a06a095c&type=lplock&chain=Matic

Where Can I Buy KOM token?

$KOM token is available at:

  1. Centralized Exchanges : BitMart, Bitrue, MEXC, XT, P2PB2B, and Digiasset.
  2. Decentralized Exchanges : QuickSwap, SushiSwap, ApeSwap
  3. SWFT apps : Android Apps, and iOS Apps

All information about KOM token can be found on: https://docs.kommunitas.net/roadmap

How can users get updates about Kommunitas?

Users can get up to date information about Kommunitas and $KOM token, staying tuned to Cryptogoldie and at their official website: https://www.kommunitas.net/

For all social media links and other references, users can also visit https://linktr.ee/kommunitas

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