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Klaytn Implements Fee Delegation Policy for Blockchain Services

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Klaytn will extend the policy for any interested developers and service providers seeking to build or run applications on the Klaytn blockchain

Klaytn, the blockchain project of Korea’s largest messaging-app operator, Kakao, announced that, in celebration of the 1 year anniversary of the mainnet launch, it starts a fee delegation policy for its partners operating blockchain applications on the Klaytn platform. Any transaction fees incurred on Klaytn will be covered by Klaytn on behalf of its partners.

Klaytn is a public blockchain platform whose mainnet ‘Cypress’ was launched on June 27, 2019. With a mission to drive mass adoption of blockchain, Klaytn is committed to offering high performance, fast response time, and flexible scalability solutions that cater to a wide spectrum of engineering audience, from micro startups to large-scale enterprises. The service provider partners can benefit from Klaytn’s efficient hybrid design that combines the best features of both public and private blockchains. To this date, approximately 60 applications are running on Klaytn platform.

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In celebration of the first anniversary of its mainnet launch, Klaytn is implementing a fee delegation policy, through which Klaytn pays for all transaction fees on behalf of its developers and service providers that run applications on Klaytn platform. The developers would be able to deploy or execute smart contracts at no cost. Further, any wallet services that support Klaytn’s KLAY or Klaytn-based tokens can also have their transaction fees covered by Klaytn so that its users can send or receive tokens at no cost.

Klaytn will be running the fee delegation policy for the next 1 year. Current Klaytn partners are eligible first. After considering network and security issues, Klaytn plans to extend the policy for any interested developers or service providers.

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Jason Han, the CEO of Ground X, said, “We decided to waive all transaction fees for Klaytn services to express our gratitude for the partners who have contributed to building the greater Klaytn ecosystem.” He added, “We will extend this new policy for any interested startups or developers so that those who had difficulty using a public blockchain due to high costs would be able to consider using Klaytn blockchain.”

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