Seoul, September 8, 2025 — New trademark registrations related to “GIWA” and a site with an active countdown have fueled speculation of an imminent proprietary network announcement by Dunamu, the holding company of the Upbit exchange — reports also echoed by CoinDesk.
The countdown on the site, which indicates September 9, 2025, as the expiration date, remains [data to be verified] and could be linked to the Upbit Developer Conference (UDC) scheduled in Seoul. In this context, the attention of industry insiders remains high, awaiting precise feedback.
According to the public data reviewed by our team on September 8, 2025, trademark deposit reports appeared on Korean registers and were echoed by international publications.
Industry analysts note that the timing coincides with the 2025 edition of the UDC, an event that Dunamu has organized annually since 2018, which heightens the focus on the potential official announcement.
What Emerged: Trademark Deposits and “Coming Soon” Website
According to consultations on public registers – as highlighted by the KIPRIS portal – Dunamu is said to have filed multiple trademark applications for the name GIWA, accompanied by graphics suggesting its visual identity.
Currently, there are no case numbers or official details released by the company, therefore such information remains [data to be verified] until future formal communications. It should be noted that, without complete public documents, any further interpretation would remain speculative.
In parallel, a promotional site is active with the phrase “Coming soon” and a countdown that ends near the UDC. Various international publications have reported the news, but Dunamu has not yet provided official statements on the matter.
That said, the temporal signal offered by the countdown tends to capture the attention of the community and developers.
Possible Announcement Window
The overlap between the countdown and the UDC event suggests the possibility of an announcement during the conference.
If confirmed, the next steps could involve details on technical specifications, an evolutionary roadmap, and the integration of new services with the Upbit platform. However, until confirmations arrive, the horizon remains open to multiple scenarios, including gradual reveals and technical previews.
Why Crypto Platforms Launch Proprietary Networks
The main reasons include greater control of the infrastructure, reduction of transaction costs, creation of an integrated ecosystem, and opening up to new monetization lines.
A crucial choice lies in the network architecture: opting for a Layer 1 or a Layer 2. Indeed, the selected technical direction tends to determine development methods, governance, and operational models.
In brief: an L1 network operates with its own consensus mechanism and offers autonomous security, albeit with greater technical complexity.
An L2 system, on the other hand, relies on the security of an L1 – as in the case of Ethereum – focusing on scalability and reduced costs, although it may face constraints in terms of interoperability. That said, the choice also impacts the speed of time-to-market and integration costs for third parties.
Comparison with Networks Launched by Other Platforms
- Base by Coinbase, launched in 2023 (Coinbase): an L2 solution with a focus on developers and fiat-crypto integrations, designed for quick onboarding and accessible development tools.
- BNB Chain by Binance, launched in 2020 (BNB Chain): an L1 network that has built a wide ecosystem of dApps and tools for the retail market, with a focus on performance and broad compatibility.
- OKT Chain on OKX, launched in 2021 (OKT Chain): EVM-compatible infrastructure designed to support products and integrations with the exchange, focusing on interoperability and ease of porting.
The key metrics, such as on-chain usage, TVL (Total Value Locked), and the number of active developers, vary over time and define the traction of each network far more than preliminary announcements.
In other words, medium-term sustainability depends on real adoption and the quality of dApps.
GIWA: what it might offer (plausible hypotheses)
In the absence of official details, the functionalities that can be hypothesized in line with current trends might include:
- High transaction speed and low fees, ideal for payments and retail applications, with a specific focus on cost predictability.
- Support for smart contracts and a suite of tools dedicated to developers, including clear documentation and testing environments.
- Integrations with exchanges, custody solutions, and compliance services to enable listing processes and operational interoperability.
- Compatibility with already established NFT/DeFi standards (both EVM-based and equivalent architectures), to facilitate the porting of existing projects.
A crucial aspect will be the choice between an L1 or L2 network, a decision that will impact scalability, security, and the ease of adapting existing dApps. In this context, the adoption curve will also depend on incentives and the development experience.
Implications for the South Korean Market
South Korea represents one of the most dynamic markets in the crypto sector. The introduction of a proprietary network linked to Upbit could strengthen the local infrastructure, encourage collaborations with financial institutions, and attract developers through incentive programs.
However, it is necessary to wait for further details to assess potential regulatory impacts and the effects on competition and interoperability with major global blockchains. Yet, the availability of a domestic infrastructure could also impact the localization of services.
Essential Timeline
- September 8, 2025 (reports): trademark registrations for “GIWA” found on public records [data to be verified], awaiting formal confirmations.
- Ongoing: activation of a site with a countdown and the phrase “Coming soon”, which remain [data to be verified] and under observation by the community.
- September 9, 2025 [date to be verified]: UDC in Seoul, potential window for an official announcement, should the timeline be confirmed.
What You Need to Know (and Where to Verify It)
- Technical documentation – whitepaper, consensus specifications, EVM compatibility, with potential developer guides.
- Tokenomics and governance mechanisms, including distribution models and voting rights.
- Complete Roadmap, including the launch of the testnet/mainnet, security audits, and incentive programs, with verifiable milestones.
- Details on integrations with Upbit, such as listings, wallets, staking, and on/off-ramp solutions, to outline immediate use cases.
- Compliance elements and KYC/AML measures for dApp users and developers, to safeguard operational standards.
For real-time checks, you can follow the livestream and the official channels of UDC and Dunamu. The information will become official only after announcements published directly by the company, including the timing and methods of the announcements.