Kaia Mainnet Launch Date Set

Following the successful incorporation of Kaia DLT Foundation into the Abu Dhabi Global Market (ADGM), the foundation confirms the launch of Kaia Mainnet on August 29, 2024, with key events including updates to Finschia and Klaytn and the introduction of Kaia Portal and Kaia Square.

What’s the significance: The launch of the Kaia mainnet represents a major advancement for the Kaia ecosystem, offering features and integrations that will enhance its blockchain infrastructure and DeFi capabilities.

Kaia DLT Foundation on ADGM

In a statement, Kaia DLT Foundation emphasized that their incorporation in ADGM, which is known as one of the world’s most dynamic hubs for global tech and hybrid finance, will help them expand their infrastructure and presence in key global tech hubs.

• The Importance of ADGM Integration: The foundation’s presence in ADGM is expected to be pivotal in accelerating the adoption of web3 infrastructure and applications.
• Why in ADGM? Kaia DLT Foundation is set to leverage the hub’s regulatory framework.
• The Goal of Integration: The integration is also designed to help the foundation support web3 projects being built on the Kaia blockchain, intending to bridge the gap between global investors, developers, and Asia’s rapidly expanding web3 market. 

Key quote: 

“I am excited to announce that the registration of Kaia DLT Foundation in ADGM, which is the final and most important milestone before the launch of the Kaia mainnet, has been completed. With all preparations complete, we are now ready to initiate the process to launch the Kaia mainnet.”

Dr. Sam Seo, Chairman, Kaia DLT Foundation

About the Launch

Between the Lines: The ADGM incorporation helped the foundation to be “one step closer to launching the Kaia mainnet,” Kaia DLT Foundation stressed.

The New Features: On the mainnet launch, Kaia will release two features: 

• Kaia Portal, which will provide access to DeFi services
• Kaia Square, which will offer staking and delegation features. 

The Timeline: 

• Mainnet Launch Date: August 29, 2024
• Other Key Events:
  • August 23: Staking on Finschia disabled.
  • August 26: On-chain parameter updates for Klaytn and Finschia.
  • August 27: Finschia validators offboarding.
  • August 28: Final updates to Finschia mainnet; potential exchange suspensions.
  • August 29: Launch of Kaia Portal and Kaia Square.

What to watch:  Detailed mainnet launch information and further updates on Kaia’s features will be shared soon.

About the Native Token: The ticker update of $KLAY into $KAIA on various exchanges will occur on different timelines.

The Kaia Ecosystem 

Earlier this year, the Klaytn Foundation and Finschia Foundation proposed a merger of two blockchains originally initiated by IT giants Kakao and LIN, Klaytn and Finschia. which produced Kaia, a robust Layer 1 blockchain. 

• Then in June, Kaia Blockchain launched and introduced genesis products, including Infinite Shooting and four other web3 games, in the Philippines.

By the Numbers: 

• 420 dApps are currently being built on the Kaia Blockchain. 
• 250 million potential user base can be reached once the mainnet is launched. 

What’s next: The foundation aims to connect with global partners and expand the Kaia ecosystem, which includes over 420 decentralized applications (DApps) and a potential user base of over 250 million.

This article is published on BitPinas: Kaia Mainnet Launch Date Set

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