As the KOMO token shows a weak performance since the launch, Coinstore and the Project agreed to compensate the Launchpad Project participants for their losses. The details are as follows:
Compensation Scheme:
A snapshot of all Komoverse (KOMO) Launchpad Participants' accounts will be taken at 17:00:00 UTC+8 on July 22, 2023, for their available KOMO balance in SPOT Wallet (KOMO current orders cannot be snapshotted). All KOMO tokens acquired through Coinstore Launchpad will be frozen and deducted. Coinstore will compensate all launchpad participants with the corresponding committed token USDT for their KOMO tokens acquired from the Komoverse (KOMO) Project on Launchpad. We will account for this compensation as soon as possible and the compensation will be credited to your account within three working days.
Tips: Please cancel your unfilled KOMO sell order in the spot market before the snapshot time (2023/7/22 17:00:00 UTC+8) to receive KOMO compensation for this order. Otherwise the existing market orders will be forcefully canceled before the snapshot time (July 22nd, 5:00 PM UTC+8). If users put a new order after the forcefully canceled, the losses are at your own risk.
Details are as follows:
For KOMO acquired from launchpad event, the buyback prices will be calculated based on the subscription price, i.e. 1 KOMO = 0.04 USDT
Additional compensation (Futures Credit):
- Participants with a total subscription amount of 1,500 USDT and above will receive 200$ worth of Futures Credit, and those with a total subscription amount of less than 1,500 USDT will receive 100$ worth of Futures Credit as compensation.
The details of compensated Futures Credit are as follows:
- 200 USDT Futures Credit(ETH/USDT, 200U, funding ratio 1:5, Max Leverage 10x)
- 100 USDT Futures Credit(ETH/USDT, 100U, funding ratio 1:5, Max Leverage 10x)
Example:
On July 17 , Alice signed up on Coinstore and participated in the subscription of Komoverse (KOMO) launchpad. The actual amount of token invested was equal to 100 USDT. Alice received 2,500 KOMO tokens at the end of the event.
Alice then sold some of her KOMO holdings and added some KOMO to her position, which resulted in a balance of 3,000 KOMO in Alice's KOMO account at the snapshot's time point.
In this case, Coinstore will only buy back the 2,500 KOMO tokens from Alice's account and compensate Alice for 100 USDT based on the following calculation:
2,500 KOMO*0.04 USDT/KOMO
The excess 500 KOMO tokens will not be eligible for the buy back compensation.
Please make sure you have enough balance at the snapshot time. No extra operation is needed for Coinstore will complete this compensation progress automatically
Coinstore sincerely apologizes for the situation. Please be aware of market risks and make your investment cautiously. Thank you for your understanding and support!
Please Note:
- This compensation ONLY applies to users who participated in the Komoverse (KOMO) Launchpad event.
- The maximum amount of compensation is equal to the amount allocated to the user in the Komoverse (KOMO) Launchpad event. Any amount over the allotted amount will not be compensated.
- After the snapshot time, the portion of the KOMO position added to the users' accounts will NOT be compensated.
- If you do not receive a full refund or compensation by 3 working days after July 22 17:00 UTC+8 or have any questions, please contact our online customer service.
Coinstore Team
21st July