Kommunitas launch its new IKO – SATOSHI CITY

The Satoshi City ($CITY) Private Sale on Kommunitas

In early January 2022, the decentralized launchpad Kommunitas hosted a private sale for Satoshi City, a metaverse project. The event provided an early-stage investment opportunity for Kommunitas community partners and Key Opinion Leaders (KOLs) to acquire the native $CITY token.

About Satoshi City: A Social Metaverse

Satoshi City is a virtual metaverse designed as a digital reality where users can interact with each other in a multidimensional online space. The project’s vision was to create a platform where users could buy and own land as NFTs, create unique avatars, socialize, and participate in a play-to-earn ecosystem. It aimed to be a hub for social media, online gaming, and virtual commerce.

Private Sale Details (January 2022)

The private sale on Kommunitas was structured with clear terms to ensure transparency for all early-stage participants.

Token Sale Details & Vesting Schedule

• Sale Start Date: January 4, 2022
• Token Symbol: $CITY
• Private Sale Price: $0.0375 USDC
• Total Supply: 550,000,000 $CITY
• Vesting Schedule: The token release was structured as follows:

1. 1. 10% of the tokens were unlocked at the Token Generation Event (TGE).
   2. A 7-day cliff (a brief waiting period) followed the TGE.
   3. After the cliff, the remaining tokens were vested linearly over the next 5 months.

Whitelist Participation Rules

Kommunitas employed its standard, structured approach to ensure a fair and orderly sale process.

• The “Booster 1” Requirement: Whitelisted addresses were guaranteed an allocation but were required to purchase it during the first round of the sale, known as “Booster 1.” Missing this initial window meant forfeiting the spot.
  
  
• Payment Method: All purchases had to be made using USDC on the Polygon network.
  
  
• Wallet Strategy: It was recommended that participants already staking $KOM use a separate, non-staking wallet for the whitelist. This allowed them to secure their whitelist purchase in Booster 1 while still being eligible to participate in other sale rounds with their primary staking wallet.
  
  
• Approval Process: All whitelist spots were subject to final approval by the Kommunitas and Satoshi City teams.