Kaia

Kaia is an Ethereum-compatible Layer 1 blockchain formed from Klaytn and Finschia, aimed at users of LINE and Kakao apps in Asia.

Kaia is a Layer 1 blockchain that runs Ethereum-style smart contracts. It was formed by combining Klaytn, a blockchain started by Kakao's group in 2019, and Finschia, which grew out of LINE's blockchain. Old KLAY tokens became KAIA one-to-one.

Blocks are produced about every second by a Governance Council of validators, each of which must stake at least 5 million KAIA. KAIA pays for transactions and is staked. About 300 million KAIA are created each year (about 5.2% inflation): half goes to validators and the community, and the rest to two ecosystem funds.

Kaia focuses on stablecoins and payments: USDT, the yen stablecoin JPYC and Korean bank pilots run on it, and LINE users can access apps and a stablecoin wallet called Unifi. The foundation also supports lending markets and, through its subsidiary KIP, a private-credit fund.