Crypto asset KLAY is all set to be rebranded as KAIA. This rebranding reflects a strategic shift following the Klaytn and Finschia blockchains merger. The rebrand will see a change in the token ticker from KLAY to KAIA, and along with the name, there will be updates in the total and circulating supply as part of the new KAIA ecosystem. The swap ratio will maintain the past value of, i.e., 1 KLAY = 1 KAIA.
On 28 October 2024, Mudrex will delist and cease all spot trading pairs for KLAY. After this date, KLAY will no longer be available for trading on the Mudrex platform. However, the new and improved KAIA will soon take its place. Trading for KAIA will open on 4 November 2024, marking the beginning of a new era for this asset.
Impact on Mudrex Users
For users currently holding KLAY tokens, no immediate action is required. The transition from KLAY to KAIA will be seamless. Your existing KLAY tokens will automatically be renamed to KAIA tokens without needing a swap or migration process. This ensures that the rebranding will not disrupt your holdings and allows a smooth transition to the new token ecosystem.
When is it happening?
- 28th October 2024: Mudrex will delist and stop spot trading for KLAY.
- 4th November 2024: Trading for KAIA will open on Mudrex.
Why is this happening?
The rebranding from KLAY to KAIA is not just a name change but a strategic shift in the ecosystem. The Klaytn and Finschia blockchains have merged, combining their resources and functionalities to form a more robust platform. This merger aims to enhance the platform’s capabilities, particularly in Asia, where it integrates seamlessly with popular messaging apps Kakao and LINE.
The merger also reshapes tokenomics within the KAIA ecosystem. With improved transaction speeds, lower latencies, and an incentive structure that benefits a wider range of participants, KAIA is set to advance Web3 adoption and improve user experiences across its ecosystem. The rebranding aligns with this vision, representing a step forward in expanding market reach and driving innovation.
The rebranding to KAIA is more than a simple name change; it marks the start of several new features and utilities designed to improve its functionality. KAIA will continue to support KLAY’s existing functionalities while expanding its offerings through strategic partnerships aimed at driving innovation, particularly in the decentralized finance (DeFi) space. The overall goal is to create a robust infrastructure that supports innovative financial solutions and enhances user engagement across the ecosystem.
