What is Metaverse Token Klaytn?

Bitbns, one of India's largest crypto exchanges, announced the listing of popular metaverse token Klaytn's (KLAY) on its platform. Developed by Ground X, the blockchain of Kakao, a South Korean internet company with 50 million+ users worldwide, the token is popular among users who keep exploring new frontiers such as the DeFi, NFT, and Metaverse.

Metaverse Token ‘Klaytn’

• Klaytn (KLAY) is the native utility token that empowers and secures the Klaytn network
• The popular metaverse token currently ranks among the top 60 cryptocurrencies in the world
• This token is entirely decentralized and an open-source token, free to use for all developers even if they are not experts

Klaytn is a public blockchain focused on the Metaverse, games, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea and is now undergoing global business expansion from its international base in Singapore, led by the Clayton Foundation.

Since unveiling its metaverse roadmap in early 2022, the Ethereum-equivalent L1 chain has seen many well-known companies come onboard its Metaverse—including game developers and publishing powerhouses such as Netmarble and Neowiz. It recently ramped up efforts to lay the foundation for the Metaverse and to expand use cases.

Klaytn (KLAY) is an open-source, public blockchain focused on the Metaverse, gamefi, and the creator economy. It was created so that users can build, work, and play in the Metaverse. Being the native utility token which empowers and secures the Klaytn network,  the use cases of the token primarily includes serving as a mode of payment for transacting on the Klaytn network, yield farming and minting NFTs (with a partnership with OpenSea) via the Klaytn network.

Klaytn is also the first and the most prominent example in which the incentives fueling the ecosystem are encoded in an on-chain protocol tokenomics. With this recent listing, Bitbns has expanded its collection of 400+ supported cryptocurrencies, bringing the Defi, Metaverse, and other evolving protocols to the country filled with many Web3 believers. The latest addition on the Bitbns exchange comes after successfully listing numerous other popular metaverse tokens recently, including Alien World, RFOX, DEAPcoin, and TRACE.

Numerous well-known businesses have joined the Ethereum-equivalent L1 chain's Metaverse since it first unveiled its vision in early 2022, including publishing and gaming development giants Neowiz and Neowiz. It recently stepped up efforts to lay the foundation for the Metaverse and to expand use cases Klaytn (KLAY) token is wholly decentralized and an open-source token that is free to use for all developers, even if they are a novice. The Klaytn blockchain is secured and supported by its governance council comprising well-established global organizations, such as Kakao, Binance, MakerDAO, Hashkey, NFTBank, and LG Electronics.

David Shin, Head of Global Adoption, Klaytn Foundation, said, "Wider access to KLAY enables easier access to the Klaytn ecosystem. We're proud to have KLAY listed on Bitbns, and we look forward to collectively opening up the Klaytn ecosystem to more around the world."

Commenting on the new listing partnership, Sanket, Head of Business Development at Bitbns, said, "We were captivated by their vision of blockchain that is focused on Metaverse, enabling ease of access to blockchain technology for mobile applications. With 750 million smartphone users in India (2021) and being one of the most favourable markets for cryptocurrency/gaming users, Bitbns will empower them to do so via our simple and secure fiat trading solution."

The Klaytn Foundation works to make blockchain technology available in every corner of the world. It is the essential trust layer for the Metaverse, uniting and empowering communities in the new world. Klaytn was launched with 10 billion KLAY coins issued at genesis. Currently, there are 2.98 billion KLAY coins in circulation globally.

What is Bitbns?

Bitbns is India's most versatile exchange. With over 4 million users, it is today a one-stop shop for a diverse suite of crypto-based products and services. With varied products such as Bitdroplet, SIP in bitcoin, FIP which is fixed deposit for crypto, the exchange caters to a wide variety of audiences inclusive of traders and long-term mature investors among others. The exchange also offers advanced trading capabilities like margin trading which can be leveraged by sophisticated traders and automated trading options through API for users. Bitbns has Bitbns Quick Swap which offers over 400 cryptocurrencies which can be traded - the highest in India. Founded in 2017, Bitbns is the fastest and easiest way to buy & sell Bitcoin (BTC) at the lowest trading fee.

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