Giwa: An Overview

Giwa, standing for Global Infrastructure for Web3 Access, is an Ethereum Layer 2 blockchain created by Dunamu Inc., which owns Upbit, South Korea's premier cryptocurrency exchange. The initiative was formally revealed on September 9, 2025, during the Upbit D Conference (UDC) 2025, where the company demonstrated its testnet and shared its strategic direction for growing into fundamental financial infrastructure. Initial reports of the project surfaced in early September 2025 following the discovery of trademark filings and related market announcements, preceding the official announcement date.

Overview

Giwa's stated objective, according to its official materials, is to "eliminate obstacles in intricate and expensive web3, establishing a blockchain experience that is straightforward, engaging, and universally available." This undertaking represents Dunamu's strategic push to extend beyond cryptocurrency trading platform operations into the foundational layers of blockchain infrastructure. The term "Giwa" functions as both an acronym and an allusion to the curved earthenware tiles characteristic of traditional Korean architecture on palace and hanok roofs, representing tradition, safeguarding, and fundamental framework.

By introducing Giwa, Upbit positions itself alongside other major exchanges developing proprietary blockchains, including Coinbase Base and Binance BNB Chain. This phenomenon reflects a wider industry pattern where trading platforms work to develop comprehensive ecosystems surrounding their services, encouraging development participation, introducing fresh possibilities, and extracting economic value beyond conventional transaction margins.

History

The Giwa initiative's advancement became apparent through occurrences in the latter part of 2025. Earlier that month, Dunamu Inc. submitted multiple brand protection filings to the Korea Intellectual Property Rights Information Service (KIPRIS). The submissions covered the designation "GIWA" and incorporated branded visual elements, suggesting a deliberate marketing strategy.

Starting September 8, 2025, digital media and blockchain reporting platforms began disseminating information regarding these filings, establishing relationships between them and Upbit's parent organization's blockchain venture. These stories, drawing on publicly accessible trademark documentation and sector observations, represented the initial public disclosure of the initiative.

This disclosure received formal confirmation on September 9, 2025, at the Upbit D Conference (UDC 2025) in Seoul. During his keynote remarks, Dunamu Chief Executive Officer Oh Kyung-seok publicly introduced Giwa Chain and shared a comprehensive next-generation infrastructure strategy. During the unveiling, Giwa's test network, called Giwa Sepolia, was operational. Information from the network explorer and code repository showed development had progressed for weeks or longer, with millions of blocks produced on the testnet, proportional to its one-second block interval.

Technology

Infrastructure and Design

Giwa operates as an Ethereum Layer 2 blockchain. Layer 2 networks function as supplementary chains layered above a foundational blockchain, namely Ethereum, to boost throughput and decrease expenses. While Ethereum maintains significant security and distribution characteristics, it experiences drawbacks including transaction delays and excessive fees, particularly when experiencing peak network usage. Giwa mitigates these concerns by handling transactions independently and packaging them for later transmission to the Ethereum base network. Using this optimistic rollup design lets it maintain Ethereum's protection while delivering notably faster speeds and decreased expenses.

The network is constructed utilizing the OP Stack, the transparent, community-maintained technology base driving Optimism and its aim for a distributed group of compatible L2 networks. Utilizing the OP Stack, supported by the Optimism Foundation, enables adaptable expansion and modification of the system as the shared foundation progresses.

Primary Characteristics

Giwa incorporates several fundamental characteristics intended to strengthen both developer and user satisfaction:

• One-Second Blocks: Giwa generates new blocks at one-second intervals. This accelerated block generation aims to deliver immediate settlement of transactions, producing a fluid and engaging interaction for users of applications running on the network, notably in sectors including entertainment and monetary services.
• EVM Compatibility: The system maintains complete compatibility with the Ethereum Virtual Machine (EVM). This feature is crucial for widespread integration, permitting software engineers to move existing Solidity applications and take advantage of established frameworks like Foundry, Hardhat, and Remix without extensive adaptation. This minimizes obstacles for creators seeking to construct applications on Giwa.
• OP Stack Foundation: Built upon the OP Stack infrastructure overseen by the Optimism Foundation, facilitating scalable improvements and adjustments.
• Execution Costs: These represent the expenses of performing actions on the Giwa L2 infrastructure. They mirror fuel charges on Ethereum and are determined by (fuel consumed) × (fuel expense per unit). The Giwa system incorporates the EIP-1559 mechanism to maximize fee effectiveness. Transaction expenses on Giwa depend on utilization of the Giwa network (Layer 2).
• Data Publishing Costs: These expenses cover the burden of transferring information from Giwa (Layer 2) to the Ethereum base network (Layer 1). This activity is indispensable for maintaining information openness, making it conceivable for people to authenticate the chain and guaranteeing Giwa receives the powerful defense of Ethereum. Such fees are determined by utilization of the Ethereum network (Layer 1).

Strategic Direction and Applications

Monetary Infrastructure and Pegged Currencies

During the UDC 2025 gathering, Dunamu Chief Executive Officer Oh Kyung-seok stressed that Giwa should operate as a blockchain delivering useful benefits for monetary organizations. An important component of this vision is assistance for a locally denominated stablecoin, with valuation tied to the South Korean monetary unit (KRW).

Oh highlighted the expansion of stablecoins as a fundamental catalyst of a "revolution in monetary structures" and a facilitator for the progression toward Web3. He referenced the expanding acceptance of currency-pegged stablecoins for cross-border fund transfers and commercial transactions in developing regions as proof of expanding reliance based on applicable advantages. Through facilitating a KRW stablecoin, Dunamu aims to establish Giwa as a key player in this transformation across South Korea, potentially unlocking possibilities in settlement mechanisms, holdings administration, and monetary exchange markets. This endeavor corresponds with a national effort in South Korea to formulate rules governing domestic stablecoins to fortify the nation's monetary independence in the information economy.

Infrastructure and Associated Services

During the UDC 2025 presentation, Dunamu detailed that Giwa represents a portion of a comprehensive infrastructure expansion strategy. Additionally, the firm is producing a proprietary platform application called Giwa Wallet to facilitate user engagement with the network. The supporting framework further encompasses business-focused offerings, including the global compliance solution 'VerifyVASP' and the professional asset safekeeping service 'Upbit Custody'. The linkage of Giwa alongside these offerings indicates a commitment to establishing a thorough, integrated Web3 framework that meets requirements of both regular participants and corporate entities utilizing the Upbit ecosystem.

In constructing its surrounding services, Giwa has implemented multiple specialized offerings built to reinforce protection, verification, and interaction quality across the network.

Dojang

Dojang is an offering that transforms confirmed external facts into written certifications documented on the Giwa infrastructure. Constructed on the Ethereum Verification Support (EAS), Dojang establishes a core confidence mechanism in the Giwa framework through tying blockchain accounts with checked external information. This permits participants to develop a blockchain-based reputation without requiring exposure of classified details through their money holdings.

The primary detail that may be generated through Dojang is a "Confirmed Account," demonstrating that a blockchain account has undergone identity authentication by a qualified certifier. At the moment of introduction, Upbit Korea functions as the sole certifier, with intentions to bring on further certifiers subsequently. A prominent application for this offering is "Verified Digital Identity," obtainable via the Giwa platform to facilitate more reliable participation in distributed monetary applications.