Klaytn (KLAY) was launched on HotsCoin on January 17. Klaytn is a highly optimized, BFT-based public blockchain established by the famous Korean company Kakao. Since its launch in 2019, Klaytn has been focusing on the Metaverse, Gamefi and the creator economy, and is committed to becoming a one-stop platform for Metaverse builders. Below is a detailed study of the Klaytn ecosystem, how it works, token economics, and recent developments. KLAY is currently open for trading on HotsCoin.
Basic Information
Circulation volume: 3,482,616,054.166 KLAY
Total supply: 5,882,140,655.166 KLAY
Circulation market value: $778,105,311.444
Fully diluted market capitalization: $1,314,220,349.09
key events
2019-06-27: Klaytn launched on mainnet
2019-03-01: Klaytn completes US$90 million in seed round financing
background
Klaytn is a public chain developed by Ground X, a blockchain subsidiary of South Korean Internet giant Kakao. Kakao is one of the largest listed technology companies in South Korea. Its decision to enter the encryption field has encountered opposition, but it successfully launched the Klaytn public chain in 2019.
Positioning and Transformation
Klaytn was initially positioned as an enterprise-level, service-centric platform that combines the characteristics of public and private chains. When transforming to Klaytn2.0, its positioning became "Metaverse Blockchain", and its service targets were expanded from enterprises to everyone. Klaytn has developed in the Metaverse, games, NFT and DeFi services, becoming the blockchain of choice for Metaverse builders.
ecological project
Metaverse and GameFi
Klaytn’s Metaverse development toolkit includes SDK, smart contract library, wallet, chain browser, distributed storage solution, Oracle support, cross-chain bridge, DAO, NFT market, DEX and DeFi, etc. Klaytn Ecological Foundation invests US$1 billion to support high-potential projects.Games/Metaverse
Wemade: A Korean game company that launched the P2E game "Legend 4" based on Klaytn.
Netmarble: Launching the MBX (MARBLEX) blockchain ecosystem based on the Klaytn mainnet.
Neopin/Neowiz: Launched the P2E game "Crypto Golf Imfact" based on the Klaytn network.DeFi
Klaytn’s DeFi projects include Klayswap, Klaystation and Orbit Bridge. Klayswap is the largest DEX on Klaytn, Klaystation allows users to browse the Klaytn ecosystem, and Orbit Bridge is a cross-chain protocol.NFT
Klaytn supports more than 1,800 Klaytn-based NFT projects, including Klapes, Klip Drops, NFTBank, etc. Klaytn also collaborates with celebrities and artists to issue music, art and other NFTs through Makestar.Wallet
The Klaytn network supports wallets such as MetaMask, Huobi Wallet, and Coin98, and local ecological wallets include Kaikas, Klip, etc.
Operation Mechanism
Klaytn uses an enhanced version of Istanbul Byzantine Fault Tolerance (IBFT) as the main consensus mechanism to support hybrid infrastructure. There are three types of nodes: consensus node (CN), proxy node (PN), and end node (EN). Klaytn allows enterprises to create and operate enterprise-customized service chains that run autonomously as subnets.
Tokenomics
KLAY is the native token of the Klaytn network and is used for network utilization, yield farming, and minting NFTs. The reward for each new block is distributed among the governance committee rewards, proof of contribution, and Klaytn improvement reserve in a predetermined proportion.
Recent news
Alameda Research becomes a strategic partner and investor in the Klaytn ecosystem.
Klaytn launches US$20 million fund to create blockchain research center.
Klaytn Foundation and Singapore incubator F10 launched the first incubation program and selected 5 start-up companies.
Klaytn mainnet activates Ethereum equivalence, simplifying EVM-based DApp development.
Alameda Research and Kracker Labs join Klaytn Governance Board.
Klaytn announced its global expansion roadmap for 2022 and signed 5 key cooperation agreements.
Summarize
Klaytn has made significant progress in ecological construction in the metaverse and blockchain games, established cooperative relationships with a number of game giants, and launched popular blockchain games. The international expansion plan shows that it is trying to get rid of the label of "Korean public chain". At present, Klaytn’s ecological territory is accelerating its expansion, but its competition in the global market and user attraction still need to be observed.