The blockchain platform “Clayton,” which Kakao’s founder has selected as a future food, is reeling greatly.

It is pointed out that it will increase transparency to restore investor confidence as coin prices plunge and many projects are being withdrawn, liquidated, or even made noise such as embezzlement.

According to the industry on the 10th, the trading price of “Clay,” Clayton’s key currency, recorded 312 won as of 11 a.m. that day.

This is a 94% drop from the high of 5,050 won in March last year. Choi Hwa-in, a blockchain Evangelist, said, “Considering that the cryptocurrency market has recently fallen, the fall is excessive.”

“The bigger problem is that clay prices have been on a steady decline even before the full-fledged decline,” he said.

Kakao established its blockchain subsidiary “Crust” in Singapore in August last year and entrusted full control of its Clayton business.

It was a decision to speed up the overseas expansion of the new blockchain business. However, Clayton has been suffering from the recent departure of major projects such as Metacongs, Threads and Wemix.

The reason for the departure is a 30-fold increase in fees and frequent mainnet errors and disabilities that were carried out earlier this year. As profitability deteriorated due to falling clay value,

There have also been 12 projects that have chosen to be liquidated in the past two months alone.