Finschia and Klaytn jointly propose a mainnet merger and will issue new tokens
The instant messaging application LINE launched a blockchain project called Finschia and proposed a mainnet merger with the Korean public chain Klaytn. The integrated blockchain will combine Ethereum (EVM) and Cosmos (CosmWasm) technologies to provide a network with compatibility and high performance. A new integrated token (temporarily named PDT) will be issued, and FNSA and KLAY holders will be able to receive this new token. The merger proposes a brand new token economic model. Approximately 24% of the existing circulation will be destroyed, and the unsold supply will be permanently removed. The integrated inflation rate will be reduced to 5.2%, and a new 3-layer destruction model will be introduced to maintain growth. If the proposal is approved, a merged foundation will be established in the second quarter, a new token exchange will be launched, governance integration will be completed, and a new business plan for the merged mainnet will be launched. This merger is expected to mark the birth of the largest blockchain ecosystem in Asia and accelerate the large-scale application of Web3 in Asia.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BitGo launches MAS-regulated crypto exchange in Singapore
CFPB leaves crypto wallets out of ‘Larger Participants’ rule
SEC Chair Gary Gensler to step down
SEC broker-dealer rule struck down by US courts, big win for crypto