Merging two powerhouses into one blazing speed L1 blockchain, Klaytn and Finschia have fused forces to power the on-chain future of Asia.
This is Kaia, join us as we explore the ins and outs of their network and token, $KAIA.
What is Kaia?
Kaia is an EVM-compatible PoS Layer 1 blockchain that launched in August 2024, after the big merge between Klaytn and Finschia. Sharing one unified vision, they strive to place the power of Web3 into hundreds of millions of users across the largest continent in the world, Asia.
Many wondered why the merge took place, and well, it’s very simple. By combining forces, they have now got double the resources, strengths and infrastructure to accelerate the growth of Web3 adoption in Asia, with the reimagined Kaia.
How Does Kaia Work?
With the potential to kill a lot of the competition, Kaia is capable of processing 4,000 TPS, with 1-second transaction confirmation time and cheap fees averaging 10x less than Ethereum. Needless to say, Kaia is fully interoperable with the Ethereum Virtual Machine (EVM), and soon has plans to expand to the Cosmos ecosystem.
This has made the Kaia a superior choice for developers across the board to create and integrate dApps into the ecosystem. All in all, Kaia has access to over 250 million users through its integrated ecosystem products like LINE and KakaoTalk, and that’s excluding the 9.5M active users on the network…
Kaia Ecosystem
Exploring within Kaia’s network, there are more than 357 protocols ranging from DEXs to games, RWA protocols, and so much more; it has it all. But what sets Kaia’s ecosystem apart is its Dapp Portal, which hosts a wide range of Mini Dapps that include free and play-to-earn crypto mini games.
It doesn’t end there.
Kaia Portal
The network has a portal dedicated to rewarding users of its ecosystem through easy-to-complete missions, which could include staking, liquidity provision and much more. All you need to do is complete missions, earn points, wait for the epoch to end, and then claim your rewards before you prepare for the next epoch!
Kaia Statistics
In the short time of the network’s existence, it’s safe to say that they’ve become a go-to Web3 destination in Asia. As it stands, they’ve conducted over 55M transactions, with over 9.5M active users and have currently obtained a TVL of roughly $35.5M.
$KAIA Token
Powering this network is the $KAIA token, the primary currency used to conduct transactions, stake to secure the Proof-of-Stake consensus mechanism, participate in governance proposals, and other unique DeFi utilities through its portal.
Conclusion
According to CoinMarketCap, at the time of writing, $KAIA is trading at a price of $0.1553 with a market cap of $938.89M. In December 2024, a few months after the Kaia merger, the $KAIA token excelled and achieved an ATH of $0.415. Nonetheless, due to rough market conditions, we are down an estimated 62%, but will that last forever, anon?
Official Kaia Links
Disclaimer
The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.
