Klaytn (KLAY) Revamps Tokenomics and Governance for More Sustainability

• The Klaytn Foundation has announced changes to the network’s governance system and KLAY tokenomics model.
• These changes aim to increase community involvement in the blockchain and make it more sustainable.
• In response, the price of KLAY has surged by 49.3% over the last week and currently trades at $0.2901 with a market cap of $884.5 million.

Klaytn (KLAY) Changes Tokenomics and Governance Models

Changes Aim To Increase Decentralization

The Klaytn Foundation, a major developer and code maintainer of the Klaytn blockchain, has announced that it is changing the governance system and tokenomics model of the native KLAY tokens. These changes will increase sustainability and decentralization of the blockchain as well as increase community involvement in decision-making processes for the network.

KLAY Outperforms Crypto Market

In response to these changes, KLAY is now one of the biggest crypto gainers, rising by 49.3% last week. Today, KLAY trades as high as $0.3024 for the first time since October 2022 and exchanges hands at $0.2901 with a market cap of $884.5 million.

GC Voting on New Proposal

The proposal drawn in collaboration with Klaytn Governance Council (GC) will hold detailed changes to be made to token model of native KLAY tokens including how uncirculated (reserve) KLAY tokens are handled which will be presented in a revamped tokenomics proposal for GC voting from February 22nd through February 28th.

Roadmap For 2023 Release On Feb 27th

On February 27th, The foundation will release Klaytn’s roadmap for 2023 unveiling future plans for development, technical upgrades as well as other areas where they plan to expand their services such as smart contracts, distributed storage solutions etc..

Optimism Surprises with 2nd Airdrop, OP Token Drops 9%

• Optimism airdropped 11.7 million OP tokens to active ecosystem users who have delegated their voting power and spent more than $6.10 on layer 2 gas since March 25, 2022.
• The team behind the project also said that it’s going to do more airdrops in the future.
• Following the airdrop announcement, Optimism’s OP token went down by almost 9%.

Optimism Airdrops Millions of Tokens

Optimism airdropped millions of OP tokens to active ecosystem users on Thursday. The team warned that there’s no need to claim the tokens – they’ve been sent straight to the eligible users‘ wallets. A snapshot of the airdrop was taken on January 20, 2023 and 11.7 million tokens were allocated to those users who have delegated their voting power and spent more than $6.10 on layer 2 gas since March 25, 2022.

More Airdrops To Come

The team behind the project also said that it’s going to do more airdrops in the future in order to further facilitate positive-sum behavior in the ecosystem. It’s never too late for users to participate in these airdrops as they come up!

OP Token Reacts Negatively

Optimism’s governance token OP dumped on news of the second airdrop, dropping by almost 9% from its 24-hour high of $2.54 down to $2.32 following the announcement, according data from CoinGecko. Despite this sharp decrease in price following the news of an extra incentive for its user base, OP still remains one of 2021’s best performing tokens starting from just under 1 dollar at beginning of year before peaking at an all-time high of 3 dollars and 19 cents on February 3rd – an increase of 250%.

Unlock Schedule Not Great

Industry observers have pointed out that OP has one of 2021’s worst unlock schedules with only around 214 million out 4 billion 29 million currently being circulated with 5 point 1 million worth being emitted daily until June 16th when all unlocked tokens are expected be released into circulation .


Despite some negative reactions regarding its unlock schedule, Optimists is still proving itself as one 2021’s most successful projects having successfully given away even more incentives for its userbase whilst still retaining value despite decreases due second airdrop announcement

Binance Returns to South Korea with Investment in GOPAX

• Binance recently purchased 41.2% of South Korean crypto exchange GOPAX as part of its Industry Recovery Initiative (IRI).
• This move is to rebuild the Korean crypto and blockchain industry following an ultimatum from authorities which caused Binance to discontinue its services in 2021.
• The investment is also geared towards improving user protection standards, improving user education and boosting the local ecosystem with Binance’s technology and liquidity.

Binance Invests in South Korean Exchange GOPAX

Binance has announced that it has bought 41.2% of crypto exchange GOPAX shares as part of its Industry Recovery Initiative (IRI). The move is a bid to return to South Korea and rebuild the country’s cryptocurrency and blockchain industry after facing difficulties due to its ties with Genesis Global last November.

Industry Recovery Initiative

The IRI was designed by Binance CEO Changpeng Zhao (CZ) to aid „promising companies“ impacted by last year’s events. As per reports, Binance aims to work closely with GOPAX, improve user education and blockchain awareness, cooperate with the South Korean regulators, and support the local ecosystem with Binance’s technology and liquidity through this initiative.

Discontinuation of Services in 2021

Last year, due to an ultimatum from the country’s Financial Intelligence Unit demanding that Binance must register according to new anti-money laundering laws or face criminal charges, the cryptocurrency exchange had discontinued its trading pairs and payment options in South Korea.

Returning To South Korea With Investment

With this recent investment in GOPAX, however, Binance can now return to provide cryptocurrency services through this partner exchange in South Korea again. By working closely with GOPAX, they hope to boost user protection standards while also educating users about cryptocurrencies through their platform @BinanceAcademy.

Objective: Boosting Crypto Ecosystem

The main objective behind this move is for Binance to further rebuild the Korean crypto industry with better user protection standards as well as improved user education about cryptocurrencies through their academy program on @BinanceAcademy platform