Karat

KAT Price

What is Karat about?

Karat utilizes on-chain MPC and ZK technologies to create a sharable Web 2 & 3 ID data layer. It encrypts user data such as email and Twitter, links it to the user’s wallet, and stores it on IPFS. Users and nodes are provided with the MPC private key, enabling decentralized control over data access permissions. This infrastructure aims to serve as the foundation for future Dapps requiring Web3 social, data indexing, advertising delivery, and login permissions.

What makes Karat unique?

1. Karat is the largest and most active protocol on Zksync, with over 250,000 KYC wallets, each verified with Web3 wallet and Web2 data. Over 100 protocols have requested to stake and pay for this data during the alpha phase.
2. Karat's genesis validators include major projects like KCC, OKX, Bitmart, and NEO, along with a network of 300 top-tier KOL validators managing 250,000 users.
3. Karat's MPC data infrastructure allows users to grant varying levels of access to Dapps, enabling zero-knowledge proofs of Web2 behavior credentials without revealing identity. Users can log into multiple platforms with one ID while maintaining ZK proof of credentials across Web2 and Web3.

What's the history of Karat?

Karat hosted an IDO on its official website from July 19 to August 19, with two rounds:
- First round: July 19-21, sale price $0.03, raising $200,000.
- Second round: July 22-August 19, sale price $0.035, raising $317,092.

What's next for Karat?

- Q3 2023: Utilize MPC to build a bridge between Web2 and Web3 data, creating a unified ecosystem for true data ownership.
- Q4 2023: Develop a Karat-specific EIP standard for digital identity and verifiable credentials, enhancing EVM network interoperability.
- Q1 2024: Revolutionize online authorization with W3Auth, mirroring oAuth's role in Web2, using MPC for user control and interoperability.
- Q2 2024: Partner with identity providers like Lens and Worldcoin, integrating them into Karat's ecosystem and developing a scoring system for applications.
- Q2 2024: Integrate Account Abstraction (EIP4337) to enhance user experience by eliminating gas and blockchain friction.
- Q3 2024: Incorporate zero-knowledge technology to protect user privacy and bolster data ownership.

What can Karat be used for?

Allocations:
- 70% for 10-year Karat mining, stored in a multisig wallet managed by zkSync Official, NEO, Bitmart, and Karat Founders.
- 10.5% for the team, 10% for operations, 7.5% for investors, and 2% for advisors, all with a 48-month linear release after the first 3 months.
Users must stake 500 KAT for 7 days to join private chat rooms and mint a Karat ID. Content creators receive 50 KAT for each new user, with rewards based on user growth. A 10% withdrawal fee applies.
Karat ID: An omnichain name service connecting Web3 addresses and Web2 identities, requiring a small KAT stake. Over 350,000 users have created Karat IDs.
Verifiable Credentials: Users can mint Web2 data on-chain for Dapps to query and build protocols around.
Validator Staking: Requires staking over 350,000 KAT to start a validator.
Growth Staking: Users stake under high-growth validators to share rewards when new users join, with a portion of fees burned.
Data Request: Dapps pay KAT to access user data for indexing, marketing, etc., with a portion of fees burned.

Where can you buy Karat?

KAT tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Karat is Gate, where the most active trading pair KAT/USDT has a trading volume of $9,721.68 in the last 24 hours.

What is the daily trading volume of Karat (KAT)?

The trading volume of Karat (KAT) is $9,721.68 in the last 24 hours, representing a -1.80% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Karat (KAT)?

Karat (KAT) reached an all-time high of $0.01685 and an all-time low of $0.0003111. It’s now trading -97.50% below that peak and 34.50% above its lowest price.

What is the market cap of Karat (KAT)?

Market capitalization of Karat (KAT) is $454,099 and is ranked #3749 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of KAT tokens (1.1 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Karat (KAT)?

The fully diluted valuation (FDV) of Karat (KAT) is $816,023. This is a statistical representation of the maximum market cap, assuming the maximum number of 2 Billion KAT tokens are in circulation today. Depending on how the emission schedule of KAT tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Karat compare against its peers?

With a price decline of -12.40% in the last 7 days, Karat (KAT) is underperforming the global cryptocurrency market which is down -7.90%, while underperforming when compared to similar ZkSync Ecosystem cryptocurrencies which are up 0.00%.