Klaytn (KLAY) Changes Tokenomics, Governance Models to Increase Decentralization

• The Klaytn Foundation has announced changes to the governance system and tokenomics model of its native KLAY tokens.
• These changes are aimed at increasing decentralization and sustainability of the blockchain, as well as community involvement in the Klaytn Network.
• The price of KLAY has jumped by 49.3% in the past week, trading at $0.3024 for the first time since October 2022.

Klaytn Changes Tokenomics and Governance Models

The Klaytn Foundation is making changes to its network’s governance system and tokenomics model in order to increase decentralization, sustainability and community involvement on the Klaytn blockchain. These changes come as part of Klaytn’s Decentralization Phase of its Governance Roadmap, which will also introduce a communication channel for community members to engage in decision-making processes.

Price Increase for KLAY Tokens

As a result of these developments, KLAY tokens have seen a significant positive impact on their prices. In just one week, KLAY has gained 49.3% in value, trading at $0.3024 for the first time since October 2022. As of now, 1 KLAY trades hands at $0.2901 with a total market cap of $884 million USD ranking it 59th among all cryptocurrencies worldwide according to CoinMarketCap data from February 20th 2021 UTC-8PM GMT +1:00BST (London).

Klaytn Governance Council Proposal

The new governance system is being proposed by the Klaytn Governance Council (GC), who are collaborating with the Klaytn Foundation on detailed plans regarding how uncirculated (reserve) KLAY tokens should be handled under this revised tokenomics model. This proposal will be presented to GC members from February 22nd through February 28th for voting purposes before it is officially implemented into the network’s mainnet codebase later this year or early next year if approved by GC voters.

Permissionless Validator Structure

With these changes also comes a fully permissionless validator structure that allows anyone from around world to participate in open block validation on the Klaytn platform without needing any special permission from developers or administrators from within or outside the foundation itself . The goal here is to make sure that everyone can have an equal chance at participating in maintaining and developing this blockchain ecosystem regardless of where they live geographically or what their technical capabilities may be like currently .

Roadmap For 2023 To Be Released On Feb 27th

On February 27th , The Klaytn Foundation will release its roadmap for 2023 that includes further details regarding future updates , upcoming projects , partnerships , technology advancements , etc related to this blockchain platform . This plan could potentially provide more insight into how these latest changes may affect other aspects of decentralized finance within South Korea’s largest Layer-1 public chain going forward .