KLAP (Klaytn Lending Application) is a decentralized non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an over-collateralized (perpetually) or under-collateralized (one-block liquidity) fashion.
$KLAP is the governance token for Klaytn Lending Application. $KLAP tokens can be staked into VeKLAP, which gives holders farming yield boosters, rights to the protocol's treasury & fees, and voting rights on token reward emissions.