Karate Combat, a fighting organization, plans to launch a Hedera layer-2 network called UP in early 2025. The network will enable Karate Combat to license its "Up Only Gaming" technology to other sports, leagues, projects, and potentially meme coins. The organization has experienced growth due to its push into crypto and its token-hungry user base. Karate Combat's mobile and web app allows users to wager KARATE tokens on fights, and the app has been instrumental in the organization's success. Up to 30 projects are expected to launch on the forthcoming layer-2 network, and meme coins are also invited to participate. Applications developed using Up Only Gaming will record transactions on the UP layer-2 network, but they are not required to launch a token on the network. Instead, users can deposit other tokens, which the app will create synthetic versions of for use. A token for UP is set to launch next year, with a portion of its total supply allocated to a grants program for early builders. Additionally, 30% of the token supply will flow back to KARATE token holders. The launch of UP will bring backend improvements to the Karate Combat app, and it will remove restrictions on gameplay and onboarding during events. The decision to build on Hedera stems from a three-year business relationship with the HBAR Foundation, and Karate Combat plans to release an open-source library to assist future projects on the Hedera network. The organization aims to create a category of tokens similar to Karate Combat and is motivated to make it happen quickly.
- Content Editor ( decrypt.co )
- 2024-10-11
Karate Combat Launches Layer-2 Network to License Game Model to Other Sports