The latest technology and developer roadmap released by Klaytn Blockchain focuses on increasing demand and value for its native KLAY tokens. The recent governance proposal by Klaytn involved burning almost 50% of its token supply, which will make KLAY more valuable in the long term. Klaytn aims to identify key crypto infrastructure services like decentralized oracles, where KLAY can be used to increase transactional utility and result in more gas burns. Gas burns refer to the removal of coins from circulation generated from user transactions on the blockchain.
In the second half of 2023, Klaytn plans to launch a permissionless network pilot on its Cypress mainnet, which will automate the entry and exit of validators, who are responsible for verifying transactions on the network. In terms of governance, Klaytn plans to establish community governance council selection and dismissal processes, gradually transferring decision-making authority to token holders, who can have a say in who sits on the Governance Council.
At the time of writing, KLAY tokens have a market capitalization of $823 million and have not changed significantly in the past 24 hours.