Kommunitas Schedules Hosting First INO With iSTEP

Kommunitas announced that it would host the first INO with iSTEP on May 19, 2022. The minimum number of KOM required to participate in the process is 50,000.

A total of three iBoxes will go on sale. Details for the same are depicted below.

All the iShoes mentioned in the above table are used in the iStep application. INO is scheduled to begin at 3 AM UTC on May 19, 2022, with a minimum of 50,000 KOM required to be staked.

Stakers Round begins on the same date at 9 AM UTC with an estimate of selling 200 boxes per type. A single address can buy three non-fungible tokens on First Come, First Serve Basis. Unsold NFTs, if any, would be allocated to the Community Round. Stakers Round also requires a minimum staking of 50,000 KOM.

The Community Round has been pinned for May 19, 2022, to begin at 1 PM UTC. All the addresses are eligible to participate; however, a single address can only purchase a maximum of 3 non-fungible tokens. A 10% non-refundable fee would be applicable on every purchase.

The First Come, First Serve Basis approach would also apply to the Community Round. iStep is built on the ecosystem of Binance Smart Chain as a lifestyle application. It combines the elements of SocialFi and GameFi to build the largest community of members who are extremely passionate about living a healthy lifestyle.

Members of the community improve their health and earn attractive and stable passive income. This factor pushes the platform to promote a healthy lifestyle when the technology has crushed the energy level of users, making them very lazy.

Kommunitas is a Launchpad that is decentralized and tier-less. It serves as a solution to projects that focus on multi-chain operations, welcoming all those who exist over blockchains like Binance Smart Chain, Polygon, Ethereum, Solana, and Avalanche, to mention a few.

Kommunitas posted the update through its official blog post. It followed another announcement introducing a new concept that could be the first of its kind in the Crypto Sphere, as quoted by Kommunitas.

Through the new update, investors will be able to leverage their KOM holding to earn passive revenue through sharing in stable coins and KOM tokens. It will act as a passive income along with the pre-existing capital gain.

INO stands for Initial NFT Offering. It serves as a mechanism to encourage participation in crowdfunding activities. INO normally involves putting up limited NFTs for sale.