Klaytn 2022: A Year in Review

2022 was a banner year for Klaytn, and we have a lot to be proud of! From tech upgrades to ecosystem growth, we’ve made significant strides in advancing our vision of the metaverse:

1. Technology Advancements
🏆 With V 1.8.0 introduced in March this year, Klaytn is now Ethereum-equivalent, so developers can easily use our EVM-equivalent tools and interfaces.

🏆 User experience is key in the metaverse, so we’ve kept our average transaction latency low at 2.13 seconds (one of the lowest among L1 blockchains).

🏆 We introduced a dynamic gas price policy to ensure our network remains stable and fast while preventing network abuse.

2. Ecosystem Growth
🏆With over 5.7 million active addresses in 2022 and over 300 projects building on Klaytn, more and more people are using Klaytn, contributing to the growth of the metaverse.

🏆Beyond tech upgrades, we’ve continued buidling our Metaverse-as-a-Service model that allows Web2 companies, game publishers, content creators, and other users to easily “plug in” to the metaverse. We’ve forged key strategic partnerships and collaborations with companies like Soramitsu and Adgorithmics to help us achieve this goal.

🏆We crowned the inaugural winners of Klaymakers22, Klaytn’s flagship web3 hackathon! It was difficult to choose from the record-breaking 174 submissions we received, that ranged from decentralised art generation to no-code DAO creation and management solutions. Eventually, 19 teams walked away with over US$1 million worth in prizes, sponsor bounty challenges, and grant and incubation opportunities.

3. Gaming Expansion

🏆Our gaming ecosystem is on fire! We’ve onboarded metaverse platform Another World, and have attracted some of the biggest names in gaming to the Klaytn metaverse. 

🏆Popular games DeFi Kingdoms and Ni No Kuni: Cross Worlds have gone live on Klaytn, with DeFi Kingdoms seeing 100,000 transactions in its first 24 hours and Ni No Kuni: Cross Worlds garnering over 5 million downloads since launch. 

🏆With the added launch of game aggregators like Playone Games and ISKRA this year, Klaytn is emerging as the go-to destination for gamers.

4. Wider CeFi and DeFi Access

🏆Wider access to KLAY allows for wider access to the Klaytn metaverse. Since the start of our global expansion phase late last year, 68 leading centralized exchanges worldwide have listed KLAY.

🏆We’ve also made significant progress in the world of decentralized finance (DeFi). 24 DEXes now support KLAY, with Pangea Swap and Klayswap being big hits.

5. Governance Evolution

🏆We’ve made some big changes to our governance model this year. We announced our crypto-first strategy and onboarded Web3 heavyweights, such as 1inch and Sygnum, to the Governance Council. 

🏆With the launch of Klaytn Square, the beta version of our governance portal, users can now learn more about Klaytn Governance Council (GC) members, their KLAY transactions and staking deposits. Live GC on-chain voting statuses to come in 2023!

🏆To optimize KLAY emissions and sustainably grow our ecosystem, block rewards were reduced by a third following a governance council vote. This cuts annual KLAY inflation from 10% to 6.48%, competitive with other L1 ecosystems.

🏆In our next step towards increased decentralization and network participation, we’re transitioning to a permissionless validator structure. This means more of our community can benefit from business opportunities, profit-sharing structures, and network security, all while ensuring openness, transparency, and censorship resistance.

6. Proactive Community

🏆With a 62% increase in social media following and a 20% growth in the number of Klaytn enthusiasts joining our Telegram and Discord channels, we couldn’t have achieved what we did this year without the strong support of our community. 

It’s been a wild ride, but we can’t wait to see what the future holds. We’re excited to continue building the metaverse in the years ahead! 

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