Demex Daily #229: Kaia Mainnet Launches with Kaia Wave to Boost Web3 Adoption

What’s Interesting Today:

Kaia DLT Foundation has launched its mainnet, positioning Kaia as the fastest and most efficient EVM-based blockchain, supported by major Web3 partners like Kakao and LINE NEXT. Alongside the launch, Kaia introduced the Kaia Wave initiative, developed with LINE NEXT, to accelerate Web3 adoption by allowing developers to create Mini Dapps within LINE Messenger. This initiative aims to bridge Asian and global Web3 partners and establish Kaia as a leading blockchain platform in Asia. The foundation will detail future strategies and partnerships at the Kaia Square Lounge 2024 event on September 2–3.

Threshold Network has proposed acquiring BitGo’s Wrapped Bitcoin (WBTC) by offering $36.4 million in T tokens. This proposal aims to transition WBTC from centralized to decentralized custody by integrating it with Threshold’s tBTC bridge. The plan includes minting 15% of the current T token supply as a grant to BitGo, making it the largest stakeholder while maintaining decentralized operations. This move addresses centralization concerns and aligns with BitGo's goal for multi-jurisdictional custody. If BitGo declines, the T tokens could help offboard WBTC and transition to alternatives like tBTC and cbBTC.