Bitbns, one of India’s largest crypto exchanges, announced the listing of popular metaverse token Klaytn’s (KLAY) on its platform. Developed by Ground X, the blockchain owned by Kakao, a South Korean internet company with more than 50 million users worldwide, the token is popular with users who are always exploring new frontiers like DeFi, NFT and Metaverse.
Klaytn (KLAY) is an open-source public blockchain focused on the metaverse, gamefi, and creator economy. It was created to allow users to build, work, and play in the Metaverse. As a native utility token that strengthens and secures the Klaytn Network, the token’s use cases primarily include functioning as a means of payment for transactions on the Klaytn Network, yield farming, and minting NFTs over the Klaytn Network.
“Broader access to KLAY allows for easier access to the Klaytn ecosystem. We are proud to have KLAY listed on Bitbns and we look forward to working together to open up the Klaytn ecosystem to more people around the world,” said David Shin, Head of Global Adoption, Klaytn Foundation.
Klaytn is also the first and most prominent example where the incentives that drive the ecosystem are encoded in an on-chain protocol tokenomics. With this recent listing, Bitbns has expanded its collection of over 400 supported cryptocurrencies and brought the Defi, Metaverse and other evolving protocols to the land filled with many Web3 followers. The latest addition to the Bitbns exchange comes after numerous other popular Metaverse tokens recently successfully listed, including Alien World, RFOX, DEAPcoin and TRACE.
Numerous well-known companies have joined Metaverse on the Ethereum-equivalent L1 chain since it first unveiled its vision in early 2022, including publishing and game development giants Neowiz and Neowiz. It has recently ramped up efforts to lay the groundwork for the Metaverse and expand use cases. Klaytn (KLAY) token is fully decentralized and an open-source token that is free for all developers to use, even if they are beginners. The Klaytn blockchain is secured and backed by its Governance Council, composed of well-established global organizations such as Kakao, Binance, MakerDAO, Hashkey, NFTBank and LG Electronics.
“We were intrigued by their metaverse-focused vision of blockchain, providing easy access to blockchain technology for mobile applications. With 750 million smartphone users in India (2021) and one of the most affordable markets for cryptocurrency/gaming users, Bitbns will empower them through our simple and secure fiat trading solution,” said David Shin, Head of Global Adoption, Klaytn Foundation .
The Klaytn Foundation works to bring blockchain technology to every corner of the world. It is the essential layer of trust for the Metaverse, uniting and strengthening communities in the new world. Klaytn was launched with 10 billion KLAY coins issued at Genesis. There are currently 2.98 billion KLAY coins in circulation worldwide.
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