Proposal "Merger of Klaytn Foundation and Finschia Foundation" approved

Klaytn Foundation and Finschia Foundation jointly initiated the Klaytn<>Finschia mainnet merger proposal (KGP-25), which has been approved, to create the largest Web3 ecosystem in Asia and plan to launch a unified mainnet. The merger aims to integrate the technologies and services of both parties, creating the leading and most competitive blockchain in Asia. The two foundations will establish a task force and set up a unified foundation in Abu Dhabi in the second quarter of 2024, and establish a single governance structure to effectively operate the unified mainnet. The new token economics will merge KLAY and FNSA into a new token, expanding governance delegation and community participation, and promoting innovation in the Asian blockchain industry.