Will the new mainnet Kaia, born from the merger of Klaytn and Finschia, bring new value to the Web3 industry?

In January of this year, Klaytn and Finschia announced their merger, and recently, new developments have emerged regarding the merger. The new mainnet, Kaia, is scheduled to launch fully by the end of June, initially starting on the existing Klaytn network, combining the technological advantages of Finschia and Klaytn. For Klaytn token holders, there is no need for a separate token swap during this process, but Finschia's FNSA token holders will need to convert their tokens into the new KAIA token. This conversion will be facilitated through the newly established Kaia portal, which will launch simultaneously with the Kaia chain.
The new mainnet Kaia is not just a technological upgrade; its new native token KAIA represents a fresh start. The token symbol "\&" not only symbolizes the combination of Klaytn and Finschia but also represents a commitment to partners and the community, aiming to bring together developers, enterprises, users, and traders in a unified ecosystem.

The two platforms behind Kaia—Klaytn and Finschia—proposed the KGP-25 initiative at the end of January this year, aiming to create the largest Web3 ecosystem in Asia. This proposal was confirmed through voting on February 15. Kaia will not only inherit the integration advantages of Klaytn and KakaoTalk but will also integrate the technologies of Finschia and Line, both of which are leading instant messaging platforms in Asia. Additionally, the new mainnet will promote ecosystem expansion in the areas of real-world asset tokenization (RWA), GameFi, and DeFi in collaboration with partners in Japan, South Korea, and Southeast Asia.
With the launch of the new Kaia chain, we will continue to monitor how this blockchain merger demonstrates its competitiveness on the global Web3 stage and how it affects the market performance of related tokens. As of June 3, the prices of $FNSA and $KLAY have shown positive market reactions, recording weekly increases of 23.31% and 21.24%, respectively. All of this suggests that Kaia will not only be an important advancement in blockchain technology in Asia but may also become a focal point for the global blockchain community.

A Visionary Public Chain: Overview of the Kaia Project

Kaia was born from the desire to make blockchain technology easy to use and accessible to everyone, regardless of their background or experience. This vision is guided by its core values—community, sustainability, and simplicity—which serve as guiding stars in our journey of fostering partnerships, engaging with the community, and promoting blockchain adoption.
Kaia is committed to creating an inclusive environment where every individual can connect, collaborate, and contribute within the Kaia ecosystem. In this way, Kaia is not just a technological platform but a community shaped by active participants.
Throughout the development of products and services, Kaia remains dedicated to sustainability, ensuring that our innovations not only meet current needs but also leave a positive impact for the future. This long-term thinking is a key differentiator for Kaia compared to other blockchain projects.

Kaia ensures that all activities within its ecosystem are clear, efficient, and effective. Simplicity is reflected not only in the intuitiveness of the user interface but also in the ability for everyone to easily access and utilize the services provided by Kaia.
Kaia adopts the stylized "\&" symbol as its brand and token logo, symbolizing the combination of Klaytn and Finschia, as well as the importance placed on partners and the community. This symbol represents not only connection but also the potential for creativity and growth.
The name Kaia is deeply meaningful. It hints at the union of Klaytn and Finschia and is derived from the Greek word for "and" (και), emphasizing our belief in the power of connection in Web3. Additionally, phonetically, Kaia resonates with "Gaia" (the ancient Greek goddess of the Earth and mother of all life), which not only pays homage to the brand heritage of Klaytn and Finschia but also symbolizes growth and interconnectedness.

Introduction to the Klaytn Project and Its Development Roadmap

Klaytn is a blockchain platform launched by GroundX, a subsidiary of South Korean internet giant Kakao, aimed at promoting the widespread adoption of blockchain technology through its high performance, scalability, and reliability. Utilizing a Proof of Stake (PoS) consensus mechanism, Klaytn not only accelerates transaction speeds and confirmation times but also maintains efficient system operation.
The original intention behind Klaytn's design is to combine the advantages of public and private blockchains to provide an environment that is both efficient and secure. This unique combination allows Klaytn to support a large number of transactions and users while maintaining low processing times and costs, which is particularly crucial for business applications that require high-frequency, large-scale transactions. Furthermore, Klaytn supports smart contracts, enabling developers to build various decentralized applications (dApps) on the platform, commonly referred to as BApps (Blockchain Applications), to meet the needs of different industries and application scenarios.

Klaytn is dedicated to providing an accessible, user-friendly development environment, making it easy for even newcomers to blockchain technology to build and deploy blockchain applications. Through a platform similar to web services, Klaytn simplifies the process of creating new blockchain environments, reducing the technical burden on developers. This design philosophy is particularly appealing to developers transitioning from centralized applications to decentralized applications, as it lowers the entry barrier and accelerates the realization of innovative applications.
KLAY is the native cryptocurrency within the Klaytn ecosystem, playing multiple roles in the system. As a means of payment, KLAY is used in applications built on Klaytn, and it is also awarded to developers who contribute to the platform. Additionally, KLAY is a popular choice among cryptocurrency traders and investors, who trade it to profit from market price fluctuations.
For purchasing KLAY, investors can buy it on various cryptocurrency exchanges that support the token. Investors need to create accounts on these exchanges and complete the necessary identity verification processes before purchasing KLAY using accepted payment methods. After purchase, KLAY can be stored in wallets that support Klaytn technology, including wallets provided by exchanges or dedicated hardware wallets like Trezor or Ledger for enhanced security.
Through these comprehensive features and innovations, Klaytn has become an important force in the blockchain space, not only in South Korea but globally. With continuous technological advancements and an increasingly mature ecosystem, Klaytn is laying a solid foundation for the future of blockchain technology, promoting broader adoption and technological integration.

The Finschia Foundation Rooted in the Wealthy UAE

The Finschia Foundation, established in March 2023, is an independent non-profit organization located in Abu Dhabi, UAE. The foundation is dedicated to expanding public blockchain and Web3 technology, inheriting the "everyone's blockchain" philosophy of the LINE blockchain. As the operator of the third-generation public blockchain mainnet Finschia and the cryptocurrency FINSCHIA (FNSA), the foundation aims to achieve a sustainable token model in collaboration with Web3 users worldwide.
Finschia's primary goal is to become a leading global blockchain ecosystem, driving the adoption of Web3 and attracting over 1 billion users. As the successor to the LINE Blockchain, which has been independently developed and operated since 2019, the Finschia Foundation not only takes over the vision and mission of LINE Blockchain but also promotes industry advancement. The platform focuses on the essence of service growth and the increasing demand for tokens, adhering to the principles of Finschia Token Economy 2.0.
The FNSA token, as the main currency for transactions on Finschia, also rewards individuals who contribute to the network's growth and development. Through a protocol-based inflation mechanism, Finschia ensures the fair distribution of FNSA tokens, creating a virtuous cycle that promotes adoption and enhances network value. Finschia allocates tokens based on the protocol, with 50% for network contributions, 30% for service contributions, and 20% as reserves, starting from zero reserves to incentivize and support service growth.
To transition to an alliance system and promote the development of public blockchain systems, Finschia has implemented Governance 2.0, where governance members play a key role in major decisions. The foundation aims to create a sustainable token model by fostering a community-centered approach that involves service providers, contributors, and all participants in the Finschia ecosystem.
Finschia supports many Web2.0 companies, including LINE, helping them seamlessly access the Finschia mainnet. The design of Finschia's Web3 blockchain is intended to accommodate both direct and indirect on-chain contributions, thereby generating economic value. This strategy not only facilitates the adoption of blockchain technology but also provides a platform for traditional enterprises to transform into digital businesses.

What Impact Will the Merger of Two Giants Have on the Web3 Industry?

With the imminent arrival of Kaia, the Klaytn and Finschia teams are working diligently to ensure maximum competitiveness in both technology and ecosystem, aiming to launch the Kaia mainnet by the end of June 2024. The launch of Kaia not only marks the birth of a new blockchain ecosystem but also heralds the rise of a network centered on collaboration, innovation, and users. Through collaboration with LINE NEXT and a focus on DeFi initiatives, Kaia will simplify the user experience and promote the adoption and application of blockchain technology globally.
The launch of Kaia is a significant milestone for both the Klaytn Foundation and the Finschia Foundation. We look forward to working with users, developers, and partners to promote the growth of the Kaia ecosystem and jointly lead the on-chain future in Asia and beyond. With the addition of more DeFi projects and collaborations with global blue-chip DeFi projects, Kaia is set to become a leader in the blockchain space in Asia and demonstrate its influence in the global Web3 arena.
With the upcoming establishment of the Kaia DLT Foundation and collaborations with top gaming companies in several Asian countries and globally recognized IP Web3 projects, Kaia will create an unprecedented collaborative platform for developers, innovators, and users. Additionally, the discovery and promotion of AI-based dApps, along with support for the digital transformation of traditional Web2 companies, will make Kaia a bridge connecting traditional enterprises with modern blockchain technology.
The challenges Kaia faces are primarily related to integration, especially in terms of the technical and cultural merging of the two systems. While there may be some initial technical and operational issues, this integration is expected to lead to broader market acceptance and higher system efficiency in the long run.
Moreover, optimizing the governance model is also key to Kaia's success. By expanding the governance structure to include 100 leading global enterprises and achieving permissionless verification, Kaia aims to enhance its level of decentralization and improve the openness and security of the system. This robust governance framework will provide Kaia with a significant advantage in the global blockchain competition.