SORAMITSU’s Collaboration with Klaytn Foundation for Open-Source DEX Development

Klaytn, the leading blockchain platform in South Korea announced the successful conclusion of the decentralized exchange testnet in February 2023. The Klaytn community came together to test the newly built infrastructure and its features while providing feedback for necessary improvements.

This was only possible due to the support of the Klaytn Foundation and the Klaytn Governance Council, who worked tirelessly with the community to design and implement the necessary infrastructure for decentralization and inclusivity in the network.

One of the most significant challenges in the current market is funding projects to increase network value, given the elevated cost of development and the lack of trust in technology providers. However, the Klaytn Foundation and the community trusted SORAMITSU, a Japanese fintech company, as a trusted technology partner due to its commitment to fulfilling deadlines and submitting reports on time. SORAMITSU’s alignment with Klaytn’s values led to a successful project that helped achieve trust from the community, which is extremely challenging to build in the current environment.

The Klaytn ecosystem is well-positioned to work with the best technology providers across the board, and SORAMITSU was proud to be included in this list. Working with other world-class companies ensures that everything built meets the network’s standards and is safe enough to support the massive number of daily transactions. SORAMITSU also appreciated the dedication to community safety, working with a Klaytn ecosystem auditor such as Quantstamp.

According to Viktor Vanichkov, SORAMITSU Engineering Lead in the Klaytn Ecosystem, “Klaytn is a technically advanced blockchain with big support for new projects, ranging from infrastructure to funding. It has a very developer-friendly community, which is oriented toward the principles of decentralization and open-source development. I am very glad that our vision for future evolutions is aligned to Klaytn’s and based on Web3 ideals.”

SORAMITSU strives to develop blockchain software based on the values of decentralization and with the purpose of leaving its mark on the improvement of humanity. With over a hundred years of experience in blockchain, finance, economics, and design, SORAMITSU pioneers technologies that foster inclusivity, promote innovation, and ultimately, improve people’s quality of life. SORAMITSU is an award-winning global fintech company with expertise in developing blockchain-based solutions for digital asset and identity management.

In conclusion, the successful decentralized exchange testnet is an indication of Klaytn’s dedication to fostering a decentralized and inclusive network for the community. The Klaytn Foundation’s attention and support to organize working sessions and proposal reviews, coupled with SORAMITSU’s commitment to delivering a successful project, has made the entire development process a huge success. The Klaytn ecosystem’s utility will be strengthened, and the merits and benefits of decentralized technologies will be advanced, solving pressing societal challenges.

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