The blockchain platforms Finschia and Klaytn, belonging to the communication platforms LINE and Kakao respectively, announced today their integration on the X platform to accelerate the widespread application and development of Web3 technology in Asia. The governance proposal will begin voting on January 26th and last for one week.
Social media platforms and mobile communications have entered the blockchain field to expand their ecosystems, leveraging their large existing user base. This has become an evident trend in the industry, with platforms like LINE’s “Finschia,” Telegram’s “TON,” and Kakao’s “Klaytn.”
Today, Finschia and Klaytn announced on the X platform their proposal to integrate their mainnets, creating the largest Web3 ecosystem in Asia and further accelerating the widespread application of Web3 in the region.
The governance proposal will begin voting on January 26th at 1:00 PM and last for one week, ending on February 2nd.
The goal is to build an ecosystem with over 250 million users. The merged blockchain will integrate the Web3 assets of LINE and Kakao, creating a massive ecosystem that reaches over 250 million users. This not only combines Finschia’s influence in Japan, Taiwan, Thailand, and Abu Dhabi, but also incorporates Klaytn’s strong network in South Korea, Singapore, and Vietnam.
Through the integration of these two blockchains, seamless interoperability between Finschia’s NFT, payment, and AI services, and Klaytn’s DeFi and gaming services will be achieved. Additionally, the proposal states:
– The issuance of a new token, PDT
The proposal announces the launch of a new integrated token (tentatively named PDT), and users holding FNSA and KLAY will have the opportunity to exchange for this new token.
This merger proposes a new token economic model, stating:
– Technically, the merged blockchain will combine Ethereum (EVM) and Cosmos (CosmWasm) technologies to form a compatible and high-performance network.
If the proposal is passed on February 2nd, plans include establishing a new merged foundation in the second quarter, launching a new token swap process, completing governance integration, and introducing a series of new business initiatives for the merged mainnet.
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