Finschia and Klaytn propose mainnet merger, will issue new tokens

Finschia, a blockchain project launched by instant messaging application LINE, and South Korean public chain Klaytn jointly launched FGP-23 and proposed a mainnet merger. The integrated chain will combine Ethereum (EVM) and Cosmos (CosmWasm) technologies to provide compatibility and high-performance networks. Under the proposal, a new integration token (tentatively named PDT) will be issued. Holders of FNSA and KLAY will be able to claim the new tokens. This merger proposes a new token economic model. Approximately 24% of the existing issuance will be burned, and the unissued supply will be permanently removed. The integrated inflation rate will be reduced to 5.2%, and a new 3-Layer burn model will be introduced to sustain growth. Governance voting will be held from 13:00 on January 26th to 13:00 on February 2nd, Beijing time. If the proposal is approved, the two parties plan to establish an integrated foundation within the second quarter, launch new token exchanges, complete governance integration, and launch new business plans integrating the main network.