The KSP price update as of now is $0.2165. In the previous 24 hours, its trading volume was $70,994, and its value has increased by 3.92%. As of now, KSP's live market cap is $26,482,234, and it is ranked as the #3293 on the Coincu. KSP has a circulating supply of 122,315,473 and a maximum supply of 122,315,473.

The KLAYswap Protocol: An On-Chain Solution for Instant Swapping

The KLAYswap Protocol is an extensive on-chain protocol designed for instant swapping. This protocol operates using an on-chain liquidity pool and ensures liquidity through automated market-making (AMM) mechanisms. With this protocol, users can access an on-chain swap service that allows them to become liquidity providers and earn transaction fee commissions using KLAY or KCT-type token cryptocurrencies. Additionally, KLAYswap enables the transfer of Ethereum-based tokens (ETH, ORC, DAI, WBTC) to the Klaytn ecosystem through Orbit Bridge, a transparent IBC bridge built on Orbit Chain. This integration creates new opportunities for yield farming with previously unconnected asset pairings in the decentralized world.

The KSP Token: Empowering Governance and Liquidity Pool Creation

The KSP token serves as the governance token for the KLAYswap platform. Holders of KSP have the authority and responsibility to determine governance agendas in compliance with the protocol's rules and regulations. They play a crucial role in leading the development of the service. KSP holders actively participate in decision-making processes regarding fees, mining distribution, and contracts. Furthermore, KSP is essential for creating new liquidity pools. When a new KCT token pair pool is created on KLAYswap, a specific amount of KSP is required as a pool contract creation fee.

Liquidity mining is a significant feature of the KSP token. Through liquidity mining, users can acquire KSP tokens, which are distributed only in each Genesis block. As compensation for providing liquidity to the pool total, KLAYswap liquidity providers receive KSP tokens proportionate to their contribution.