According to official news, Klaytn, a Layer 1 network owned by South Korean Internet giant Kakao, and Finschia, a public chain project owned by Japanese communications giant Line, proposed to merge. The two parties plan to create a new blockchain that supports both the EVM and CosmWasm frameworks to create Asia's leading Web3 ecosystem.
Voting on the merger proposal is scheduled to take place from January 26 to February 2.
Affected by this news, according to market data, the Klaytn token KLAY was quoted at US$0.25, with a 24H increase of 31.8%. Finschia token FNSA is quoted at $34.74, with an increase of 22.6% in 24H.