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.