Merger Proposal of Finschia, a Public Blockchain under LINE, and Klaytn, Approved, Aims to Build the Largest Web3 Ecosystem in Asia

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Fincia x Klaytn Mainnet Merger Proposal Passes with High Votes
Fincia x Klaytn to Issue New Coin PDT
Fincia x Klaytn Mainnet Merger Proposal Passes with High Votes
The merger proposal between Finschia and Klaytn, two major Web2 public chains, has officially passed on February 15th at 14:00 Korean time. The proposal passed with a 100% voting rate and a 95% approval rate.
The merged public chain will be compatible with Ethereum and Cosmos. Finschia emphasizes that the newly issued native token “PDT” will have a sustainable token economy.
Issue New Coin PDT
Previously reported, both parties will jointly issue a new coin (tentatively named PDT), and FNSA and KLAY holders will be able to receive the new token.
The token economy will also be different. After the new coin replacement is completed, approximately 24% of the unissued and existing circulating PDT tokens will be destroyed, reducing the inflation rate to 5.2%, and introducing a new three-tier burn mechanism.
KLAY holders will have a 1:1 exchange ratio, while FNSA holders will have approximately a 1:148 ratio.
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Previously, the crypto community had questioned the sudden merger proposal, pointing out the lack of information regarding the final stance of the participating companies. Additionally, there was a significant time difference between the announcement and voting time of the merger proposal, limiting the choice of authorization.
Subsequently, Fincia and Klaytn temporarily suspended the voting and reopened it on February 8th. However, it ultimately passed with high votes.
Fincia x Klaytn
Finschia
Klaytn
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Further Reading
LINE’s Subsidiary Public Chain Finschia Proposes Merger with Klaytn Mainnet, Will Issue New Coin “PDT”
Web3 Enterprise LINE NEXT secures $140 million in funding, NFT platform DOSI to target global users.