Announcing 3 firsts for the Klaytn GC
As we continue Klaytn’s transition to transparent and verifiable on-chain governance, more crypto-first organizations have started stepping up and showing interest in joining the Governance Council. Coming right off the back of the GC changes announced just last week, we are pleased to announce the onboarding of three new GCs: Kommune DAO, Another World, and CREDER-ITCEN.
They will be the GC’s first representatives in the community DAO, metaverse, and real-world asset sectors, and are expected to further enrich the Klaytn ecosystem.
Additionally, with the passing of KGP-7 in April, Klaytn Foundation will step down as the decision-maker for GC membership applications, and the onboarding of future GC members will be decided through on-chain voting. The guidelines for the election and exclusion of GCs will be announced via Klaytn Square in the near future.
About Kommune DAO
Kommune DAO is the first community DAO to participate as a Klaytn GC. The DAO will play a role in enhancing the transparency of the governance structure, through community-owned validation services and giving the Klaytn community a channel to participate in governance decisions. In addition, Kommune DAO will also be building a system to support future DAO GC members to enable more community participation in Klaytn governance.
Presently, Ahnlab Blockchain Company (ABC) and Colligence are serving as Kommune DAO’s core members, and will actively seek to stabilize and grow the DAO to build a healthy Klaytn governance channel where the community and builders can participate.
About Another World
Another World is a Web3 playground where users can build careers and monetize their online activities. Since its launch, Another World has garnered a 200,000-strong global community, and achieved 0.14 billion TVL and generated over $12 million in revenue from the sale of 4,000 land NFTs.
In Another World’s metaverse space, users can buy and sell assets such as land and buildings for cryptocurrency, or create their own virtual avatars to explore the metaverse, providing a decentralized ecosystem where users and content creators can interact and build a healthy ecosystem together.
As the first metaverse-focused member of the Klaytn GC, Another World will commit to:
- Building a Metaverse Space for Klaytn in Another World: A dedicated space for Klaytn will be built in Another World to attract and grow the global Klaytn community.
- Serving as a hub for Klaytn DApps: Another World enriches the ecosystem by collaborating with NFT projects that need virtual space, and NFT projects can further strengthen the community through additional utilities. Additionally, they will also contribute to the growth of KLAY demand by supporting the use of KLAY as a currency for these DApps.
- Providing utilities for GC rewards: Another Word will implement a DeFi model that encourages GC members to hold and utilize their GC rewards, while preventing GC members from selling KLAY for short-term gains, contributing towards our goal of achieving deflationary tokenomics.
- Expanding metaverse infrastructure and ecosystem support: Another World and its in-game builders are aiming to build a platform that provides a seamless experience for both game players and crypto investors. They will also provide developer support and education centered around the use of Klaytn’s Metaverse Knowledge Kit, to contribute to the expansion of Klaytn’s metaverse ecosystem.
- Providing KLAY-AWM LP pools: AWM is the virtual currency of Another World, which is used to purchase items and rewards, building a robust tokenomics within the platform.
Through these initiatives, Another World aims to attract more Klaytn ecosystem participants and contribute to the growth of KLAY demand.
CREDER-ITCEN is the first Klaytn GC member focused on Real World Assets (RWA). Founded in 2005, ITCEN Group is a leading IT service company in South Korea, and for 18 years, it has led the development of a wide range of IT industries in Korea, from finance, manufacturing, and building sectors to security and distribution. ITCEN is also leading the digital transformation of Korea’s largest gold exchange, the Korea Gold Exchange.
Creder is a joint venture between ITCEN Group and BPMG, a blockchain development powerhouse, and is a comprehensive financial platform centered on gold-based digital assets. As most of the members of BPMG are from the BORA project, the team has rich experience and know-how in listings on the four major cryptocurrency exchanges in Korea.
As a Klaytn GC member, CREDER-ITCEN will contribute to the expansion of the Klaytn ecosystem into the RWA sector by developing a liquidity staking platform for GPC (Gold Pegged Coin), a Klaytn-based token that has its value pegged to gold. This platform will allow investors to deposit KLAY and receive GPC as rewards, and marks Klaytn’s first major foray into the tokenization of real-world assets.