Klayr
KLY
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Klayr (KLY) is an independent Layer-1 blockchain forked from the legacy Lisk JavaScript/TypeScript codebase following Lisk's migration to an Ethereum L2. While Klayr has maintained a clean record regarding smart contract exploits and protocol security breaches ($0 aggregate security losses), the project has suffered severe operational failure. Following the early termination of grant funding by the Onchain Foundation effective January 1, 2025, Klayr Labs shut down operations in February 2025 and attempted an operational handover to the ADAMANT community. Development has effectively ground to a halt, active governance has ceased, and the community base and liquidity have collapsed, with market capitalization dropping to approximately $500,000 and token prices experiencing an unrecovered >95% decline from all-time highs.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Klayr (KLY)
Klayr (KLY) is an independent Layer-1 Proof-of-Stake blockchain and sidechain application platform created as a continuation fork of the legacy Lisk JavaScript and TypeScript codebase following Lisk's migration to an Ethereum Layer 2. Founded by Lukas Bronsvoort, Jurre Machielsen, Raphaël Cornelis, and Sander Mandemaker, the network launched its mainnet on June 25, 2024. The token distribution originated via a 1:1 airdrop snapshot of the legacy Lisk chain alongside a strategic genesis mint of 30 million tokens, establishing an initial supply of approximately 183.48 million KLY.
The native KLY token serves as the core utility asset within the network, utilized for transaction fees, sidechain registration, and Delegated Proof-of-Stake (DPoS) validator staking. The network operates with an emission rate of 2 KLY per block (approximately 9.01 million KLY annually, representing 4.5% to 5.0% inflation) without a token burning mechanism. While the underlying Lisk SDK codebase had previously been audited by Trail of Bits, no independent, third-party comprehensive code audits were completed for post-fork modifications under the Klayr brand.
Despite having no recorded smart contract exploits, protocol hacks, or regulatory enforcement actions, the project suffered severe operational failure after the Onchain Foundation terminated its grant funding agreement early, effective January 1, 2025. As a result, Klayr Labs ceased operations and dismissed its staff in February 2025, transferring repository stewardship to the ADAMANT developer community. Following this transition, protocol development velocity stalled, governance became defunct, and the token experienced an unrecovered price decline of more than 95% from its peak, resulting in minimal trading volume and depressed market liquidity.