Ethereum (ETH) based altcoin Klayn (KLAY)surprised investors with the sudden rise.
After a remarkable announcement, KLAY had a remarkable rally. About a week before the announcement, KLAY was trading at $0.19. The altcoin then rallied 73% to $0.33 today. The price has since pulled back a bit and KLAY is trading at $0.30 at press time.
The Klaytn Foundation has announced its new initiatives for Klaytn (KLAY), which aims to improve the sustainability and transparency of the project ecosystem. The Klaytn Foundation is the developer behind the altcoin project.
According to the announcement, the foundation plans to present a “refreshed tokenomic offering” covering the processing of spare KLAY tokens. The Klaytn Governing Council is expected to vote on the proposal from February 22 to February 28. The foundation also plans to release its long-term roadmap for Klaytn on February 27:
“Finalized agendas and proposals will be made public once voting ends… The Klaytn Foundation is committed to advancing the growth and development of the Klaytn ecosystem while prioritizing transparency and community engagement.”
What is KLAY?
Koinfinans.com As we reported, Klaytn is an entertainment-focused blockchain. It was officially launched in June 2019 and focused on the South Korean market during its global business expansion.
However, Klaytn is designed as a platform that cares about service and user experience. Klaytn also has a highly scalable network, low latency, and decentralized data storage.
On the other hand, KLAY acts as a native token of the Klaytn protocol.
You can follow the current price action here.