Kakao and Naver’s Line, two blockchain projects, have launched a new integrated brand named ‘Klaytn’ and ‘Finschia’ to capture the Asian market. The Klaytn and Finschia foundations will reveal the new brand of the integrated foundation to the public at a domestic media briefing scheduled for the 30th. This brand launch finalizes the operation of the temporary brand ‘Project Dragon’, which has been in effect since January, and aims to announce the newly unified identity. The event will also provide detailed explanations about the current progress of the mainnet integration process and future plans.
The integration process includes the merger of the two blockchains’ utility tokens, Klay (KLAY) and Finschia (FNSA). A new ecosystem utility token will be issued, and a swap program will be initiated to facilitate the transition for existing token holders. Additionally, measures such as burning 24% of the token issuance will implement a ‘Zero Reserve Tokenomics’, and the inflation rates of each mainnet will be adjusted downward to 5.2%.
This integration represents a significant opportunity for Klaytn and Finschia to merge their technological, service, and business networks to become the leading mainnet in Asia. The foundations will leverage Asia’s largest potential digital wallet user base and integrate and transition the Web 3.0 assets of Kakao and Line, contributing to the democratization and expansion of blockchain technology. The synergy resulting from the integration of Finschia and Klaytn is expected to play a crucial role in Asia’s virtual asset transactions and GDP proportions.
To support these changes and growth, the Klaytn and Finschia foundations are collaborating with the global branding and marketing firm Aleph to develop a new brand identity. Aleph has shown excellent results in fostering creative strategies, branding, advertising, and media communications in the financial services sector. The unveiling of this integrated brand marks an important starting point for Klaytn and Finschia to secure a stronger position in the Asian market and open a new future for blockchain technology.
