KLAY is the native digital asset that fuels and secures the Klaytn protocol. It can be used as a medium of exchange, for staking, to pay transaction fees, and as collateral for secondary tokens. 

Klaytn is an open-source enterprise-level blockchain platform developed by Kakao, the leading South Korean internet company, that aims to deliver scale and speed for those looking to build, work, or play in the Metaverse. Klaytn is building a Metaverse-ready ecosystem of AAA-quality games and DApps connected using multichain DeFi services and integrated with the leading NFT marketplaces to create a Metaverse-focused blockchain for all. 

Klaytn brings comprehensive developer support, greater transaction speed and finality, EVM support, and a $1 billion protocol-level fund to support ecosystem growth. Klaytn is partnered with industry-leading enterprises such as Japan’s GMO Internet Group, Indonesia’s Salim Group, global fintech accelerator F10, NFT trading platform EAST NFT, and mobile gaming giants Netmarble and WeMade. 

More information here https://klaytn.foundation/