ClaimSwap, the first DeFi protocol on the Klaytn Blockchain network, has launched its native token, KLAP. Klaytn continues to rapidly increase its recent activities.
The KLAP developer team underlined that this release is particularly important for both community management and tokenomic design advancement of Klaytn’s DeFi ecosystem:
“We are really excited to allow the KLAP token to benefit our system and provide additional functionality for users following our protocol launch. As KLAP becomes decentralized, it is an important next step in community development and growth.”
The supply of KLAP token, capped at 1 billion tokens, will be made available at an initial 6 percent (60 million tokens). With the launch of KLAP, it is expected to reach a market value of approximately 75 million dollars in the first place.
Additionally, this newly released KLAP token will support the economy of Klaytn Lending Application as a core service and governance digital asset. However, KLAP rewards will be given to Klaytn’s buffs for staking KLAP. KLAP-KLAY lenders will also receive NFTs for their participation. In addition, KLAP holders will have a say in the governance of DEX.
What is Klaytn?
Klaytn is a Blockchain solution developed by Ground X, the Blockchain subsidiary of South Korean tech giant Kakao Corporation. With a market capitalization of over $40 billion, Kakao is one of the largest publicly traded technology companies in South Korea.
For more detailed information about Klaytn, you can read our article below: https://www.coinkolik.com/klaytn-klay-coin-nedir-klay-coin- comment-ve-gelecek/
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