Increasing demand and value for Klaytn’s native KLAY tokens are at the center of the latest technology and developer roadmap released by developers earlier this week.

Klaytn, the leading layer 1 blockchain from South Korea, is set to undergo a series of changes to its governance system and its tokenomics.

Klaytn Foundation, one of the key developer and code maintainers of the Klaytn blockchain, is making changes to the network's governance system and make changes to the token model of native KLAY tokens, it told CoinDesk over the weekend. The Foundation will aid Klaytn blockchain's transition to a wholly permissionless validator structure, provide opportunities to the general public to participate as block validators, and introduce a communication channel for Klaytn's community members to participate in decision-making processes.

Klaytn Foundation, the non-profit overseeing the growth of the Klaytn ecosystem, has announced the transition to a permissionless validator structure. In time, anyone will be able to participate in the Klaytn ecosystem as a block validator alongside existing Governance Council (GC) node operators, as long as they meet minimum qualifications that are currently being finalized. With network incentives now provided at the protocol level, the transition to a permissionless validator structure will allow more to participate in the block validation process, paving the way for greater decentralization of the Klaytn ecosystem.

$1M worth of prizes and grants are dedicated in return to incentivize innovations in Klaytn’s core protocol, metaverse & NFTs, DAO, DeFi and Public Goods.