KLAY vs WAXP
Klaytn and WAX scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
KLAY scores 103 of 250 and ranks 124th of 251. WAXP scores 81 and ranks 218th. KLAY leads by 22 points, which is a real gap, though small enough that one variable moving would close much of it. KLAY takes 18 of the 25 variables, WAXP takes 0, and 7 are level.
The framework rates KLAY WATCH and WAXP PASS. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
One variable separates them by 3 points or more. KLAY is clear on Institutional Adoption (5 against 2).
Both score 3 or below on Protocol Revenue, Revenue Trend, TVL Trend, Market Share, Catalyst Calendar. A weakness both sides share is not a reason to prefer either. It is a reason to check whether the category itself carries the problem.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 3 | 2 | KLAY +1 | |
| Revenue Trend | 3 | 2 | KLAY +1 | |
| P/S Multiple | 4 | 3 | KLAY +1 | |
| Real Staking Yield | 4 | 3 | KLAY +1 |
Supply
| Supply Inflation | 4 | 4 | level | |
| Vesting Schedule | 5 | 5 | level | |
| Circulating / FDV Ratio | 5 | 5 | level | |
| Buyback and Burn | 4 | 2 | KLAY +2 |
Ownership
| Smart Money Flows | 4 | 2 | KLAY +2 | |
| Insider Selling | 5 | 5 | level | |
| Holder Concentration | 4 | 4 | level |
Traction
| TVL Trend | 3 | 2 | KLAY +1 | |
| Active Users | 5 | 4 | KLAY +1 | |
| Developer Activity | 4 | 3 | KLAY +1 | |
| Network Growth | 4 | 3 | KLAY +1 |
Position
| Market Share | 3 | 3 | level | |
| Competitive Moat | 4 | 3 | KLAY +1 | |
| Institutional Adoption | 5 | 2 | KLAY +3 | |
| Exchange Depth | 5 | 4 | KLAY +1 | |
| Social Mindshare | 4 | 3 | KLAY +1 |
Risk
| Regulatory Safety | 5 | 5 | level | |
| Catalyst Calendar | 3 | 2 | KLAY +1 | |
| BTC Alpha Potential | 4 | 3 | KLAY +1 | |
| Team Execution | 4 | 3 | KLAY +1 | |
| Treasury Runway | 5 | 4 | KLAY +1 |
Bars read outward from the centre: KLAY to the left, WAXP to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| KLAY | WAXP | |
|---|---|---|
| Price | $0.0375 | $0.005726 |
| Market cap | not published | $26.9M |
| Circulating | n/a | 100% |
| Dilution to full supply | n/a | 1x |
| Off all-time high | -99.14% | -99.79% |
| To recover the high | 116.3x | 476.2x |
| Total value locked | not published | not published |
| Network | Klaytn | WAX |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
KLAY · WATCH
Klaytn's Finschia merger creates Asia's largest public chain; Korean regulatory clarity boosts enterprise adoption.
Centralized governance via Ground X (Kakao); slow DeFi network growth vs. Ethereum L2s.
WAXP · PASS
Leading blockchain for NFT gaming and digital collectibles with low fees.
Dependence on gaming trends and competition from other gaming chains.
Common questions
- Is KLAY or WAXP the better investment?
- On this framework KLAY scores higher: 103 against 81 of 250, and it is rated WATCH against PASS. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and KLAY still wins 18 of the 25 individual variables against WAXP.
- What is the biggest difference between KLAY and WAXP?
- Institutional Adoption. KLAY scores 5 of 10 there and WAXP scores 2, a gap of 3 points on a single variable.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.