Outside Source
Karate Combat, a web3 professional strike league, is set to launch its layer-2 blockchain network on Hedera.
In an announcement on Oct. 11, the Karate Combat team revealed that its new layer-2 platform, UP, will go live on Hedera (HBAR) in the first quarter of 2025.
Ahead of this, the Karate Combat team has licensed its software stack to allow sports leagues, teams, esports, fantasy sports, meme coins, or gambling platforms to transition to web3 via the UP layer-2 network.
Karate Combat’s “Up Only Gaming,” which has more than 100,000 active players, allows holders of the native token KARATE to earn additional tokens when they accurately predict the outcome of fights on the platform.
UP token to launch in 2025
UP will allow partner platforms to use the software stack to build replica mobile apps that they can customize. Karate Combat will also offer grants and incentives to its partner organizations when the layer-2 token UP launches in 2025.
Early builders will also be incentivized, with plans for up to 30% of the UP tokens to go to KARATE stakers.
Meanwhile, 10% of the tokens will be allocated to an incentive program targeted at HBAR. These tokens will be placed into liquidity pools, Hedera-based decentralized borrowing and lending protocols, and staking.
The HBAR Foundation, the entity focused on developing Hedera, has a strategic partnership with Karate Combat, making the Foundation the exclusive blockchain sponsor for KC.
“We’re now in the last half of our third year partnering with Karate Combat, and it’s been incredible to see what they’ve accomplished. As the first professional sports league governed by a token, they’ve set the bar high and pushed the boundaries of what’s possible onchain.”
David Cramer, chief operating officer, The HBAR Foundation.
This article first appeared at crypto.news
