Klaytn

Klaytn is a public Layer 1 blockchain platform focused on scalable decentralized applications, with its original development based in Seoul, South Korea, and an international base in Singapore. The platform secured $90 million in initial funding and has become a dominant blockchain in South Korea, leveraging integration with Kakao to support a large user base and applications such as Ni No Kuni: Cross Worlds and MIR4. Its ecosystem has attracted investors including Crescendo Equity Partners, IDG Capital, and TransLink Capital. The non-profit Klaytn Foundation, directed by Dr. Sangmin Seo, now oversees the platform's global growth. Klaytn was initially developed starting in 2018 by GroundX, a Kakao subsidiary founded by Jaesun Han, with its mainnet launching in June 2019. Its business model centers on non-profit foundation model funded initially through $90 million ICO, now operates independently via staking-based governance, ecosystem services, and token utilities.