• As part of final Decentralization Phase of Governance Roadmap, Klaytn Foundation to increase community involvement in decision-making and open block validation processes within 2024
• GC on-chain voting agendas and statuses to be disclosed in real-time via Klaytn Square governance portal
• Klaytn Foundation to present revamped tokenomics proposal for GC voting on February 22nd and release 2023 roadmap on February 27th
• Klaytn Foundation to expand scope and capabilities by fully taking on all Foundation operations from Krust Universe – original developer of Klaytn platform

SINGAPORE, Feb. 19, 2023 /PRNewswire/ — The Klaytn Foundation, established to build and decentralize the ecosystem of South Korea’s leading Layer 1 blockchain Klaytn, is announcing a new governance system that will further enhance the technical capabilities, sustainability, and decentralization of the Klaytn blockchain ecosystem.

Working alongside the Klaytn Governance Council (GC), the Foundation will continue its ongoing transition to a permissionless validator structure, providing opportunities to the general public to participate as block validators, while encouraging various decentralized projects to operate on the Klaytn platform. The Foundation will also introduce a communication channel for Klaytn’s community members to participate in decision-making processes. These initiatives align with Klaytn’s Governance Roadmap, introduced at the launch of the Klaytn Mainnet in 2019. By fostering a more inclusive and open ecosystem, the Klaytn Foundation aims to support the development of a reliable and sustainable blockchain mainnet for developers and the wider community alike.

In light of the aforementioned organizational changes, the Klaytn Foundation will present a revamped tokenomics proposal for GC voting starting February 22nd through February 28th. This includes a proposal on handling the uncirculated (reserve) KLAY tokens in response to community feedback. Finalized agendas and proposals will be…