8th BURN 1,485,340,309 KOM
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Since the month of May has ended, it’s once again time for our monthly report! We’ll be covering the outcome of our Social Engagement Burning, DxLock burning, KOM liquidity across all DEXs, as well as look back at some of the things we achieved in the past month.
This month we burned a total of 1,485,340,309 KOM or Approximately $3,357,608 at the time of writing! This includes both our Social Engagement Burning and DxLock Burning. Featured below is a breakdown of our May 2022 Social Engagement Burn as well as DxLock Burn.
Back in April, Kommunitas established “Kommunitas Priority Projects” where projects will have to pass a stringent set of criteria to become a Kommunitas Priority Project. You may read more about it here.
This month, we held our first two INOs (Initial NFT Offerings) for iStep’s NFT boxes as well as Bikearn’s NFT bikes, and we raised funds for a total of 3 Priority Projects. We also introduced Revenue Sharing, where 30% of all non-refundable fees (in USDC) collected will be distributed proportionally to KOM Private Partners (members with more than 500K KOM) on a quarterly basis. Read more about it here.
During our 8th Social Engagement Burn this month, we burned a total of 25,510,660 tokens. That’s equivalent to $58,675 worth of KOM tokens burnt. You may check out the transaction here.
❤️🔥❤️🔥 Just like last month, we will share some details regarding our Social Engagement Burning. Find out more here:
🗣 Shout out to Sherif Fayed on Twitter as our top follower of the month for contributing to KOM burning 🙌 https://twitter.com/sheriffayed?s=21&t=iUEeWhF5onKF6HmbRgzU3A
➡️ Proof of Social Engagement Burning: https://polygonscan.com/tx/0x2352685ba9ca84dde3103e4e7238d53b463da63d985a6e2e0c70a45089777026
➡️ Proof of DxLock Burning: https://polygonscan.com/tx/0x2bf97b0549585e470e23940e47a47770f18ad976ab2996b7c4d1595668c2a462
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