Finschia: The FNSA token and governance will transition to Kaia Mainnet after launch.

According to official sources, Finschia announced that after the approval of proposal FGP-23, Finschia and Klaytn have decided to merge the Mainnet. Through this integration, Finschia Token and governance will transition to Kaia after the launch of the Kaia Mainnet. To ensure a seamless transition, the inflation of FNSA will stop on August 26, 2024. The conversion rate from FNSA to KAIA is approximately 148:1 (148.079656:1 = KAIA:FNSA). Stopping the inflation of FNSA is necessary to determine the total amount of KAIA for on-chain exchanges. In addition, the unbonding time will be reduced from 7 days to 1 hour to facilitate smooth exchanges. Please note that new stakes on Finschia will be suspended from August 23, 2024. Due to inflation pause, users will no longer receive FNSA rewards. With Finschia governance integrated into Kaia, Finschia governance members (FGM) will no longer serve as validators operators starting from August 27, 2024, and transition to the Kaia Mainnet. As a result of this governance change, the voting cycle will be shortened from 7 days to 3 hours. Finschia Mainnet will be upgraded to version 4.0, which has been thoroughly reviewed for stability by auditor Hacken. Finschia users can convert their FNSA Token through the Kaia portal, and the foundation will provide at least 12 months of FNSA to KAIA exchange service. Earlier, Finschia stated that with the establishment of the Kaia DLT Foundation in the Dubai International Financial Centre and the Abu Dhabi Global Market (ADGM), most of the preparations for the Kaia Mainnet launch have been completed, and it will go live on August 29, 2024.