Ecosystem Nov 25, 2022

Klaytn Governance Council Votes to Pause KIR Grants

#Blockchain #Governance Council #KIR #Klaytn

In an effort to manage risks associated with market volatility, and to adhere to the previous decision to pause KGF grants and investments for 4Q 2022, the Klaytn team submitted a governance proposal recommending the temporary suspension of Klaytn Improvement Reserve (KIR) grants for both pre-approved and future projects for the remainder of 4Q 2022. A total of 17 GC members participated in the vote, with 15 members voting to pass the proposal. With the passing of the proposal, all KIR grants and related expenditures will be paused until the end of Q4 2022.

As a result, a total of 18 pre-approved KIR disbursements will be postponed to 2023 effective immediately:

The 9th KIR: Klaytn Bug Bounty Program by Theory
The 10th KIR: New Consensus Algorithm for Blockchain Scalability by BaSE Lab
The 11th KIR: Online Education and event for Klaytn by LIKELION
The 12th KIR: Auditable Privacy Preserving FT/NFT Transfer on Klaytn Blockchain by Zkrypto
The 13th KIR: Public EN Operation by Fantrie
The 13th KIR: Open-source Decentralized Exchange by SORAMITSU
The 13th KIR: Improving the Read Performance of KV database in Klaytn by Seoul National University
The 14th KIR: Finstreet x Mining Devs
The 16th KIR: EN Operation by Klubs
The 16th KIR: Education Program by Code States
The 16th KIR: Klaytn Ecosystem Audit Fund by Blaize Technology
The 17th KIR: Blockchain at Yonsei NFT Project
The 17th KIR: Blockscout Open-source Block Explorer
The 17th KIR: Klaytn Ecosystem Audit Fund by Hacken
The 17th KIR: Klaytn Ecosystem Audit Fund by Haechi Labs
The 18th KIR: EN Operation by Krosslab
The 18th KIR: Klaytn Developer Grant Program by Questbook
The 18th KIR: Public EN Operation by Tatum

*An exception will be made for the 15th KIR grant – “Public EN Operation for Testnet and Archive Node Operation by Fandom Foundation” taking its significance for the overall Klaytn ecosystem into consideration. Grant disbursement will proceed as originally scheduled.

The Klaytn team will continue to take measures (always-on market monitoring, tokenomics optimizations) to ensure the sustainable growth of the Klaytn ecosystem.