Klaytn is a service-centric enterprise-grade distributed trust blockchain platform, while KLAY is the native functional token of the Klaytn network. Klaytn is a public chain developed by Ground X, which went live on the mainnet on June 27, 2019. Ground X is the blockchain division of South Korean Internet Tech Giants Kakao, which has 50 million users worldwide. Klaytn is a highly optimized, BFT-based public blockchain designed to meet enterprise-grade reliability, created by Kakao, a leading South Korean company. Since 2021, Klaytn has been focusing on Metaverse, Gamefi and Creator Economy, with the goal of becoming a one-stop platform for Metaverse builders.
The business expansion activities are supported by the Klaytn Growth Fund, which aims to develop a Klaytn-based ecosystem. The fund is managed and paid for by the Klaytn Foundation, a Singapore-based non-profit organization established in August 2021.
On February 28, 2023, the Klayth Foundation is making changes to the Klaytn web governance system and the economic model of the native KLAY token. The Klaytn Foundation will work with the Klaytn Governance Council to help the Klaytn blockchain transition to a completely permissionless validator structure, providing the public with the opportunity to participate as a block validator. In addition, the Foundation will increase governance transparency by disclosing the agenda and status of on-chain voting by the Governance Council in real time through the governance protocol Klaytn Square.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Klaytn (KLAY) and review the project details below.
What is the allocation for Klaytn (KLAY) ?
The initial allocation of KLAY tokens was as follows:
- 10% is allocated to Seed Round (1.07 billion KLAY)
- 20% is allocated to Private Round (2.14 billion KLAY)
- 30% is allocated to Public Sale (3.21 billion KLAY)
- 20% is allocated to Team & Advisors (2.14 billion KLAY)
- 20% is allocated to Ecosystem (2.14 billion KLAY)
Klaytn’s funding structure runs continuously with Klaytn network’s block generation. With every new block, newly issued KLAY and the sum of transaction fees used in the block (collectively called “block reward”) are aggregated and distributed to the following three destination accounts in accordance to the predetermined ratio:
- 40% is allocated to Klaytn Governance Council (GC) Reward:GC Block Proposer Reward: 10%GC Staking Award
- 30% is allocated to Klaytn Community Fund (KCF)
- 20% is allocated to Klaytn Foundation Fund (KFF)
What is the supply schedule for Klaytn (KLAY) ?
At Klaytn's genesis, 10 billion KLAY were introduced, and presently, there are 3.2 billion KLAY coins in active circulation. With the creation of each new block, 9.6 KLAY will be generated. This newly minted KLAY, along with the accumulated transaction fees from the block (referred to as the "block reward"), will be combined and then distributed to three specific accounts as per a predetermined ratio:
- 34 % is allocated to Klaytn Governance Council Reward
- 54% is allocated to Klaytn Growth Fund (KGF)
- 12% is allocated to Klaytn Improvement Reserve (KIR)
To view real-time updates on token information, you can visit https://scope.klaytn.com/blocks
Klaytn is a service-centric enterprise-grade distributed trust blockchain platform, while KLAY is the native functional token of the Klaytn network. Klaytn is a public chain developed by Ground X, which went live on the mainnet on June 27, 2019. Ground X is the blockchain division of South Korean Internet Tech Giants Kakao, which has 50 million users worldwide. Klaytn is a highly optimized, BFT-based public blockchain designed to meet enterprise-grade reliability, created by Kakao, a leading South Korean company. Since 2021, Klaytn has been focusing on Metaverse, Gamefi and Creator Economy, with the goal of becoming a one-stop platform for Metaverse builders.
The business expansion activities are supported by the Klaytn Growth Fund, which aims to develop a Klaytn-based ecosystem. The fund is managed and paid for by the Klaytn Foundation, a Singapore-based non-profit organization established in August 2021.
On February 28, 2023, the Klayth Foundation is making changes to the Klaytn web governance system and the economic model of the native KLAY token. The Klaytn Foundation will work with the Klaytn Governance Council to help the Klaytn blockchain transition to a completely permissionless validator structure, providing the public with the opportunity to participate as a block validator. In addition, the Foundation will increase governance transparency by disclosing the agenda and status of on-chain voting by the Governance Council in real time through the governance protocol Klaytn Square.
Above are only for introduction, not intended as investment advice.