This report is based on information obtained on March 5, 2024, and may not reflect the latest developments.

Klaytn (KLAY)

Project Introduction and Brief Summary:

Klaytn is a public blockchain platform developed by GroundX, a subsidiary of the South Korean internet giant Kakao. Launched in June 2019, Klaytn aims to be user-friendly and scalable for real-world applications, focusing on the metaverse, GameFi, and the creator economy.

Project Release Date & Token Release Date:

• Project Release Date: June 2019
• Token Release Date: June 2019

Market Capitalization: $1.07 Billion USD (as of March 5, 2024)

Current Price: $0.31 USD (as of March 5, 2024)

Exchanges: Binance, OKX, Bybit, DigiFinex, Bitget, and others.

Competitors:

• Ethereum (ETH): Market Cap – $182.38 Billion USD
• Solana (SOL): Market Cap – $35.84 Billion USD
• Avalanche (AVAX): Market Cap – $19.04 Billion USD
• Fantom (FTM): Market Cap – $2.43 Billion USD

Use Cases:

• Payments: KLAY can be used for various payments, including in-game purchases, metaverse transactions, and financial services.
• Decentralized Applications (dApps): Klaytn supports a growing ecosystem of dApps across various sectors like DeFi, gaming, and NFTs.
• Governance: KLAY holders can participate in Klaytn governance, proposing and voting on changes to the network.

Technology:

• Klaytn uses a hybrid consensus mechanism combining Proof of Authority (PoA) and Byzantine Fault Tolerance (BFT).
• This approach aims to offer faster transaction times and lower fees compared to traditional Proof of Work (PoW) blockchains.

Smart Contracts and Audits:

• Klaytn utilizes smart contracts for various functionalities within its dApp ecosystem.
• The platform has undergone multiple audits by reputable security firms, with reports available on the Klaytn Foundation website: https://github.com/klaytn/governance-contracts-audit

Investors or Partners Involved (within the last 90 days):

• Kakao Ventures: https://www.kakao.vc/ (October 26, 2023)
• Shinhan Bank: https://www.shinhangroup.com/en/index.jsp (December 12, 2023)

Amount of Money Raised during the Presale Stage/ICO/Seed Rounds:

Klaytn did not conduct a public ICO. The initial token distribution was through a private sale.

Token Distribution:

• 64%: Distributed to the Klaytn Improvement Reserve (KIR), Klaytn Growth Fund (KGF), and Klaytn Governance Council.
• 36%: Sold to strategic partners and institutional investors.

Detailed Token Economics and Use Cases:

• KLAY is the native token of the Klaytn platform and serves various purposes:

  • Transaction fees: Used to pay for gas fees on the Klaytn network.
  • Staking: KLAY can be staked to participate in network governance and earn rewards.
  • Governance: KLAY holders can vote on proposals related to the network’s development.
  • Utility token: KLAY can be used within various dApps on the Klaytn ecosystem.

• Token Vesting Schedule: The vesting schedule for KLAY distributed to strategic partners and institutional investors varies depending on individual agreements and is not publicly available.

Roadmap:

Klaytn’s roadmap outlines its development goals, focusing on:

• Expanding the dApp ecosystem: Attracting more developers and users to build and utilize dApps on Klaytn.
• Enhancing scalability and security: Continuously improving Klaytn’s performance and security measures.
• Promoting global adoption: Fostering partnerships and collaborations to drive Klaytn’s adoption worldwide.

Team Members:

• Jason Han: CEO, GroundX (Kakao) https://www.linkedin.com/in/dongsuk-han-6067b316b/en
• David Shin: Head of Global Adoption, Klaytn Foundation https://www.immutable.com/blog/klaytns-david-shin-joins-immutable-as-apac-head-of-business-development
• Ian Lee: Head of Business Development, Klaytn Foundation https://www.linkedin.com/posts/yanlee_headline-ivsbeta-startupinsights-activity-7140921597644726273-fosa

Additional Resources:

• Klaytn Foundation website: