Komodo’s ICO: a summary of Stats and Facts



  • By, 

    Ben O'Hanlon

    This is a simple fact sheet. For more information please read https://komodoplatform.com/komodo-platform-a-commitment-to-innovation/.

    Overview

    The BTC raised in the ICO is used almost exclusively to pay BTC transaction fees necessary for the delayed Proof of Work security mechanism to function.

    • Supply after launch: 100 million coins
    • Supply is capped to 200 million coins
    • Block reward: 3 KMD/block (until the supply cap is reached)
    • User Reward: 5% per year.

    When was the ICO

    • ICO started on October 15th, 2016
    • ICO Ended on November 20th, 2016
    • Coin distribution happened on January 31st, 2017

    How much was raised?

    The ICO raised 2639 bitcoins. Here’s a breakdown of the bonus levels during the ICO:

    • 35% bonus: 500 BTC
    • 30% bonus: 0 BTC
    • 25% bonus: 980 BTC
    • 20% bonus: 606.84 BTC
    • 15% bonus: 286.70 BTC
    • 10% bonus: 38.18 BTC
    • 5% bonus: 21.34 BTC
    • 0% bonus: 200.97 BTC

    With no bonus one bitcoin bought you about 7747 KMD, so the price was 0.00012909 BTC per KMD.

    Since the ICO it has been possible to also swap BitcoinDark coins to KMD. The swap rate was calculated after the ICO and it ended up being about 50 KMD per BTCD. The swap rate kept decreasing every day with an annual rate of 5 %.

    The starting supply of the network was 100 million coins, out of which 90% were distributed during the ICO to the BTC investors and BTCD swappers. The remaining 10% is being held as working capital for development and marketing purposes.

    The KMD distribution happened on January 31st, 2017. Since then the blockchain has been protected by Bitcoin and the development has been ongoing non-stop.



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