KLAYswap, as a trustless on-chain swap protocol, is a service created by all participants (liquidity providers, traders, and community members) and not by a particular operator. With this and the decentralized, trustless philosophy of blockchain in mind, KLAYswap issued the KSP (KLAYswap Protocol) governance token so participants can create KLAYswap’s policies and direction and lead to the gradual, continued development of the service.