INTERNET CITY, DUBAI, Jan. 10, 2022 – LBank Exchange, a global digital asset trading platform, will list Community Token (COMT) on January 12, 2022. For all users of LBank Exchange, the COMT/USDT trading pair will be officially available for trading at 21:00 (UTC+8) on January 12, 2022.
In the world of cryptocurrency, there are an abundance of projects and tokens. Most of these projects are actually driven by developers rather than community, in other words, they are pseudo-community-driven. To solve this problem, Community Metaverse is here to present a truly transparent and fully community-driven ecosystem. Its native token Community Token (COMT) will be listed on LBank Exchange at 21:00 (UTC+8) on January 12, 2022, to further expand its global reach and help it achieve its vision.
Introducing Community Metaverse
Community Metaverse is an ecosystem founded on the principle of a fully community-driven project. Its model is simple and gives its holders full authority to make decisions (through its Voting System) on: which direction to take, and which products to create. Two BEP20 tokens provide most of the power in its metaverse: Community Token (COMT) and Community Vote Power (CVP). Every time its community decides to implement a certain feature, a full explanation will be provided on Community Metaverse’s official website, including the technical aspects. The project is here to build a truly amazing and community-led metaverse.
All initial development costs for the website, token development and the initial liquidity pool will be taken from pre-sale revenue and the ICO of CVP tokens. All later development, marketing and maintenance costs will be paid for from the Development/Marketing Wallet, which will accumulate its value from a 1% tax on COMT. If the community votes that they want to develop a particular product or feature, the project management team will select suitable development companies to take the idea forwards. Once a month, all details of expenditure will be published on the Community Metaverse website.
The team behind the Community Metaverse will receive 15% of the total CVP supply: 150,000 CVP. All these tokens will be allocated to the staking contract, and only dividends will ever be used to cover the costs, rewards and needs of the team. This 150,000 CVP will never be sold to the market, and it will provide assurance for the team that they will be paid equally for their work.
About Community Token (COMT)
Community Token (COMT) serves as Community Metaverse’s main fuel, it’s the official currency for all Community Metaverse products and systems (except in the Voting System). With COMT, one can interact with all the features the community decides together to bring into its metaverse.
The total supply of COMT is 1 quadrillion (i.e. 1,000,000,000,000,000) tokens. 25% of the initial supply is added to PancakeSwap as the initial liquidity pool which is locked for 2 years, another 25% is added to PancakeSwap as the initial liquidity pool for CVP/COMT which is also locked for 2 years, and the rest 50% is locked for 12 months and then added (if needed) to the liquidity pool, or used for different project needs, or – if unused – burned. The community will vote on these options, and these tokens will never be sold to the market.
COMT collects a total of 4% taxes on each transaction, 1% of it goes into the Development/Marketing Wallet, another 1% is used as dividends for CVP holders through staking, which will be sent to staking contracts and distributed between all holders who stake CVP, the rest 2% is redistributed between holders.
The COMT token will be listed on LBank Exchange at 21:00 (UTC+8) on January 12, 2022, investors who are interested in Community Metaverse investment can easily buy and sell COMT on LBank Exchange by then. The listing of COMT on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
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About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.
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