Klaytn Foundation and Finschia Foundation Propose Merger for Joint Ecosystem
Klaytn Foundation and Finschia Foundation have announced their plans to merge and create a joint ecosystem with over 250 million wallets. The new mainnet will combine Klaytn’s integration with Kakaotalk and Finschia’s integration with LINE, aiming to expand in real-world asset tokenization and decentralized finance.
New Native Coin and Token Swap
As part of the merger, the native coins KLAY and FNSA will be replaced by a new native coin, which will be issued based on the combined total amount of KLAY and FNSA. Holders of these coins will have the opportunity to swap them for the new native coin. Additionally, 24% of the new coins issued will be burned to implement Zero Reserve Tokenomics.
Support for Ethereum Virtual Machine (EVM) and CosmWasm
The combined platform resulting from the merger will support both Ethereum Virtual Machine (EVM) and CosmWasm, providing compatibility with smart contract platforms for both ecosystems.
Governance Voting Process
Before the merger can proceed, it must pass through the governance voting processes of both Klaytn and Finschia. The voting will take place from January 26th to February 2nd.
Hot Take: Klaytn Foundation and Finschia Foundation Announce Merger Plans
Klaytn Foundation and Finschia Foundation have revealed their intention to merge, creating a joint ecosystem with a massive user base. The proposed merger aims to combine their respective integrations with popular messaging apps Kakaotalk and LINE. This collaboration seeks to expand into real-world asset tokenization and decentralized finance, offering exciting possibilities for the crypto community.
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