What Is KLAYswap Protocol (KSP)?

KLAYswap (KSP) is a decentralized digital asset swap protocol for the KLAYtn Network. The structure of the protocol ensures that there is a substantial and significant trading volume centered on KLAYtn.

As mentioned in the whitepaper, KLAYswap provides a high liquidity environment for trading of various crypto assets. Traders can experience instant transactions through the liquidity pool and further opt-in for services through KLAYswap’s DeFi techniques. In other words, KLAYswap is an AMM protocol that supports immediate swapping of tokens on the liquidity pools created by on-chain liquidity providers. Thus, KLAYswap is an on-chain decisive DEX protocol that intends to bring DeFi to the general public.

In addition, users have the right to decide the policy and direction of KLAYswap through the KSP governance token. Users can receive different forms of compensation, including transaction fee income, to facilitate the development of the protocol. Everyone can participate in the KLAYswap ecosystem, which includes long-term traders who want to hold cryptocurrencies for a long time, traders who want to earn income through commissions, and miners willing to participate in KLAYswap governance through KSP mining.

The KSP token is designed with a structure in which the tokens can be acquired through liquidity mining. Users can earn KSP distribution rewards by depositing, staking, or trading in mining pools. The scope of the use cases of KSP rewards are as follows:

• Users can get inflation compensation by using KSP for single/double/plus services.

• Users can participate in KSP staking and receive KSP inflation compensation. Users are able to participate in voting to determine the KSP distribution rate of the KSP reward pool.

• KSP can be used for governance voting related to the protocol agenda.

• KSP can be used to pay for the creation of new pools. KLAYswap aims to raise the value of KSP and distribute KSP yields automatically. Other advantages of KLAYswap include reliability by obtaining a security certification, sustainability via offering more mining tokens, and scalability as the platform supports a wide range of real-life digital assets.

History of KLAYswap Protocol (KSP)

The team behind the KLAYswap protocol call themselves Ozys.

The total supply of the token is 126,144,000 KSP.