• 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..