Kaia Receives Final Approval for DLT Foundation in ADGM

Kaia has achieved a significant milestone by receiving final approval to establish a Distributed Ledger Technology (DLT) foundation on August 16 in the Abu Dhabi Global Market (ADGM), an international financial free zone in the United Arab Emirates. This approval paves the way for the official launch of Kaia's integrated blockchain platform, developed by Kakao and Line, which is set to go live on August 29.

Integration of Klaytn and Finschia: A Technical Challenge

The Kaia Foundation, now established in ADGM, will oversee the launch of the mainnet, which integrates Kakao's subsidiary Ground X's Klaytn and Line's Finschia. The combined market capitalization of these platforms is approximately 1.5 trillion won (approximately $1.1 billion). However, the integration of these two mainnets, which operate on different technical and language ecosystems, requires significant technical modifications. These include mainnet on-chain parameter adjustments and updates from node operators to new clients.

Kaia Token Listing and Strategic Advantages

Simultaneously with the mainnet launch, Kaia's utility token Kaia (KAIA) will be listed and begin trading. Due to varying policies and preparation times at different exchanges, Kaia will temporarily launch as Klaytn (KLAY). Currently, Klaytn is listed on Bithumb, Coinone, Korbit, and Gopax, while Finschia is listed on Bithumb and Coinone. After the launch, each exchange plans to update to Kaia.

Seo Sang-min, Chairman of the Kaia Foundation, emphasized the strategic advantages of establishing the foundation in ADGM. "With the establishment of the ADGM foundation, known for its pro-virtual asset regulatory environment, Kaia can leverage advantages such as strengthening business cooperation networks, attracting VC investments, and integrating advanced IT technologies," Seo stated. He added, "We will introduce various partnerships and projects that have been prepared alongside the DLT foundation and mainnet launch process."

A Significant Step for Kaia and the Blockchain Industry

The establishment of the Kaia Foundation in ADGM is a significant step for the platform, given the region's favorable regulatory environment for virtual assets. This move is expected to enhance Kaia's business cooperation networks and attract venture capital investments, which are crucial for the growth and development of blockchain projects.

The launch of Kaia's mainnet and the listing of its utility token mark a significant milestone in the blockchain industry. As the platform integrates the technologies of Kakao and Line, it aims to offer a robust and versatile blockchain solution. The temporary listing of Kaia as Klaytn (KLAY) on various exchanges is a strategic move to ensure a smooth transition and compliance with different regulatory requirements.

As the launch date approaches, the Kaia team is focused on completing the necessary technical modifications and preparing for the integration of the two mainnets. The successful launch of Kaia's mainnet and utility token is expected to set a new standard in the blockchain industry, showcasing the potential of integrated blockchain platforms.