What is Klaytn?
Klaytn is an open-source decentralized platform created by a Subsidiary of Kakao, Korea’s leading IT company. Initially released in June 2019, it is designed for tomorrow’s on-chain world and allows developers and businesses to build and customize their own blockchain-based service-oriented applications using Klaytn Architecture.
To achieve this goal, Klaytn helps developers of various applications based on the Klaytn blockchain to organize scalable methods and provide strong communities. The blockchain-based DApp, which can be linked to KakaoTalk, the SNS platform used by most of the Korean population, has many unlocked possibilities and values.
Klaytn has a very high relevance to Ethereum, which is considered as a competitor. It is characterized by the fact that most of the technologies used in the Ethereum ecosystem can be used in Klaytn to combat Ethereum, which created a platform that can be applied to Korean users and companies without the blockchain experience. Investors with Klaytn Coins are able to use Klaytn-based DApps to pay transaction fees, staking, and more.
Klaytn’s Main Decentralized Application
There are various types of applications designed based on the Klaytn blockchain network. The main applications are the decentralized exchanges and Defi-related applications.
1. KLAYswap
KLAYswap is the leading DApp that has shown the highest volume of trading in the Klaytn ecosystem. In KLAYswap, users can become liquidity providers by depositing two cryptocurrency assets in a trading pair of the liquidity pool in the Klaytn blockchain.
As compensation for the supply, the Liquidity Provider may receive a claim swap token for fees incurred from exchanges in the Liquidity Pool. With the compensated KLAYswap token, investors can now stake the token to receive additional rewards and sell to realize profits.
2. KLEVA Protocol
The KLEVA Protocol aims to become the leverage and the largest landing protocol for farming in the Klaytn Defi ecosystem. Leverage interest farming provides a collateral for investors to earn higher returns from existing staking, then borrow cryptocurrency to participate in interest farming using assets added to the leverage.
KLEVA Protocol received a lot of attention with participation from WEMIX, a blockchain subsidiary of WeMade, a Korean KOSDAQ-listed company, as a major development team. Users can use leverage to participate in the liquidity pool and also become borrowers to provide leverage. Finally, users can receive rewards fairly and transparently according to smart controls based on the blockchain.
3. Pala
Pala is the largest NFT market in the Klaytn DApp ecosystem. It has evaluated itself as the largest NFT market in Korea. The Klaytn wallet allows users to connect their wallet to the market in a Web3 format, eliminating the need to transfer their cryptocurrency assets to a specific wallet, in which the NFT purchase is also transferred to the users’ wallet immediately. Pala is making great efforts to preoccupy the domestic NFT market, through marketing educational materials for NFT.
Klaytn Company and Developer Information
Klaytn was founded by Jaesun Han, who is also the CEO and of Ground X, the company behind building Klaytn ecosystem. For those who don’t know about Jeasun Han, he has a Ph.D. degree in Electrical Engineering and computer science from the Institue of Science and Technology Korea.
Kakao, which has now developed from a message application to a comprehensive content application, seeks to build an ecosystem by taking advantage of the strength of its Kakao community in the blockchain field.
We Coin-Labs.com provides only objective information about Klaytn.
Therefore, we are not responsible for the investment decision in Klaytn and the resulting loss.
Klaytn Basics
Here are some factors that investors should consider before investing in Klaytn.
| Cryptocurrency Features | Klaytn (KLAY) |
|---|---|
| Publisher or Developers | Ground X |
| Headquarters (Registration Number) | Singapore |
| Symbol | KLAY |
| Platform | Klaytn Network (Mainnet) |
| Published Date (CMC Registration) | 2020-03-30 |
| Max Supply | No limit |
Reliability Score of Klaytn in 2023
These are indexes mesuring the investment reliability of Klaytn conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 8.8 / 10.0 CAR |
| Communication Rate | 7.9 / 10.0 CR |
| Technology Transparency Rate | 6.3 / 10.0 TTR |
| Development Participation Rate | 8.5 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 6 Exchanges |
| Number of Available Pairs Worldwide | 235 Pairs |
| Market Cap of the Cryptocurrency | 631,840,918 USD (Rank #75) |
The table above shows the result of investment suitability evaluation for Klaytn.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Klaytn Price
Here are the price and recent trading volume of Klaytn. (Data of 2023-11-30 10:14:00)
| Price Items | Price and Trading Volume of Klaytn |
|---|---|
| Klaytn Price | 0.193 USD |
| Price Change 24h | -4.46% |
| Price Change 7d | -7.52% |
| Trading Volume 24h | 19,852,200 USD |
| Trading Volume Change 24h | -22.18% |
Cryptocurrency Metadata
You can check the development status and social media information of Klaytn through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://www.klaytn.foundation/ |
| 📖 White Paper | https://docs.klaytn.foundation/ |
| 🛰️ Source Code (GitHub) | https://github.com/klaytn/klaytn |
| https://twitter.com/klaytn_official | |
| https://reddit.com/r/klaytn | |
| 🎺 Message Board | https://medium.com/klaytn |
Where to Buy Klaytn
Here are the top ten world crypto exchanges where traders can buy Klaytn in 2023.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/KLAY_BTC |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Listed | https://www.kucoin.com/trade/KLAY-USDT |
| Bitfinex | Not listed | |
| OKX | Listed | https://www.okx.com/trade-spot/klay-usdt |
| Huobi | Listed | https://www.huobi.com/en-us/exchange/klay_usdt |
| Bitstamp | Not listed | |
| Bybit | Listed | https://www.bybit.com/en-US/trade/spot/KLAY/USDT |
| Gate.io | Listed | https://www.gate.io/trade/KLAY_usdt |
Frequently Asked Questions
What is the current price of Klaytn?
Klaytn price today is 0.193 USD. Furthermore, the price of Klaytn has fluctuated by -4.46% from 24 hours ago, and by -7.52% from a week ago.
Where is Klaytn listed?
Currently, it is listed on a total of 6 among the world top 10 exchanges.
What is the market cap of Klaytn now?
Currently, Klaytn has a market cap of 631,840,918 USD, which is ranking 75 among cryptocurrencies worldwide.
How much is the trade volume of Klaytn?
Currently, 3,273,034,130 KLAY coins are circulating through 235 market pairs. As a result, in the last 24 hours, 19,852,200 USD of KLAY coins were traded in the market.
