Everything You Need to Know About: Klayr L1
2024-07-15
Klayr L1, formerly known as Lisk, is set to revolutionize the blockchain landscape. Developed by Klayr Labs, this new Layer 1 (L1) blockchain leverages the foundational technology created by the Onchain Foundation. With a fresh vision and robust support, Klayr aims to empower creators, traders, and developers through an advanced web3 application platform.
Key Takeaways
- New Identity and Vision: Klayr builds upon Lisk’s technology with a focus on integration and community engagement.
- Enhanced Features: Introduction of new modules, such as Token Issuance, NFT Collection, and improved POS consensus.
- Strategic Partnerships: A two-year partnership with the Onchain Foundation ensures technical and financial support.
The Klayr Team & Organization
Klayr Labs, based in the Netherlands, has established a two-year partnership with the Onchain Foundation. This collaboration secures technical expertise and financial backing, ensuring a smooth transition and sustained development of the L1 technology. The team will expand to 12 full-time members, focusing on development, marketing, and business growth.
Community-Centric Development
Klayr emphasizes community involvement. Core community members will be integral to development, driven by incentives. The Community DAO will validate future developments and budget allocations, ensuring community representation in decision-making processes. A portion of block rewards will fund the DAO treasury.
Vision
Klayr envisions a dynamic blockchain platform that empowers creators and stimulates innovation. The platform is designed to accommodate projects of all scales, foster interoperability, and engage the community. The goal is to shift from an isolated ecosystem to a globally integrated blockchain network.
Product Overview
The New L1 Platform
The platform offers a secure, user-friendly environment for creators and developers. It includes no-code solutions for creators and a JavaScript SDK for developers. Key modules include:
- Token Creation: Easy minting and management of digital tokens.
- NFT Innovations: Tools for launching and managing NFT collections.
- Trading Platform: Seamless buying, selling, and exchanging of digital assets.
- DAO Establishment: Tools for creating decentralized autonomous organizations.
- Staking Opportunities: Rewards for network security participation.
- Blockchain Navigation: User-friendly explorer for blockchain activities.
Metamask Snaps Integration
Integration with Metamask Snaps enhances user experience and dApp development. This strategic move replaces Lisk Desktop and Mobile, streamlining digital asset management.
Technical Enhancements
Token Issuance Module
A new module simplifies token creation, ensuring security on the mainchain. This approach eliminates the need for independent security management, speeding up the token creation process.
Token Trading Module
Enhanced trading capabilities will be introduced, building upon the existing NFT Trading Module. Ongoing research ensures regulatory compliance.
NFT Collection Module
This module secures NFT metadata onchain, empowering users to create and manage NFT collections easily.
EVM Bridge
Efforts will focus on implementing a gateway to EVM-based blockchains, enhancing the L1 network's accessibility.
POS Consensus
Updates to the POS consensus mechanism will improve network efficiency and security. Reducing the number of validators and adjusting block rewards will enhance participation and security.
Tokenomics
See table above for the KLY distribution scheme.
A treasury of tokens will support listings, market making, and community initiatives. The current total supply of ~152M tokens will increase by 25 million to fund these efforts. Final tokenomics will be disclosed in March 2024.
Klayr's native token, $KLY, will be listed on Bitrue starting July 22. To stay updated on new listings and programs, be sure to follow Bitrue on X (formerly Twitter) and check out Bitrue’s blog for the latest update in crypto space.
Onchain Foundation’s Role
The Onchain Foundation will retain control of its token holdings, ensuring long-term support and alignment of interests. The foundation's bounty and adviser wallets will be dedicated to the new L1 ecosystem.
Future Developments
Klayr will unveil a new brand in February and finalize tokenomics in March. The new L1 blockchain launch will follow. Quarterly reports will ensure transparency and keep the community informed.
A Sustainable Future
Klayr’s priority is to build a sustainable model for ongoing L1 development beyond the initial two years. This involves community engagement, strategic partnerships, and leveraging professional networks.
Stay updated by joining Klayr’s community on Discord and participating in discussions. Exciting times lie ahead for the Klayr L1 ecosystem.
FAQs
What is Klayr L1?
Klayr L1 is a new Layer 1 blockchain developed by Klayr Labs, building upon the foundational technology created by the Onchain Foundation, previously known as Lisk.
What new features does Klayr L1 offer?
Klayr L1 introduces several new features, including Token Issuance, NFT Collection, Token Trading modules, improved POS consensus, and Metamask Snaps Integration for enhanced user experience.
How is the community involved in Klayr L1’s development?
Klayr emphasizes community-centric development by involving core community members in key tasks and utilizing a Community DAO to validate future developments and budget allocations.
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Disclaimer: The content of this article does not constitute financial or investment advice.
