Karate Combat to Launch Layer-2 Blockchain Network on Hedera (HBAR)
Karate Combat, a web3 professional strike league, is set to launch its layer-2 blockchain network on Hedera.
Karate Combat, a professional strike league in the web3 space, is launching its layer-2 blockchain network on Hedera (HBAR).
In an announcement on Oct. 11, the Karate Combat team revealed that its new layer-2 platform, dubbed UP, will go live on Hedera in Q1 2025.
Before this launch, the Karate Combat team has licensed its software stack to enable 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 over 100,000 active players, enables holders of the native token KARATE to earn more tokens when they correctly 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 be incentivized as well, with plans for up to 30% of the UP tokens to be allocated to KARATE stakers.
Meanwhile, 10% of the tokens will be allocated to an incentive program for 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 back half of our third year partnering with Karate Combat, and it's been amazing to see what they've done. 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, COO, The HBAR Foundation
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