Last month, two of Asia’s largest social media firms, Korea’s Kakao and Softbank-backed LINE, proposed to merge the blockchains they founded. However, the Klaytn (Kakao) and Finschia (LINE) blockchains have formal governance procedures based on crypto tokens. While the Klaytn founders influence around 42% of the governance votes, it’s less on the Finschia side.
And it’s not going so well. Finschia suspended voting before the end date but the proposal was dead by then. Roughly 35% of Finschia governance tokens voted no ‘with veto.’ Any vote receiving more than a third of votes with a veto is rejected. Only 1% voted yes.
Today the two sides put forward a revised proposal providing Finschia token holders with more incentives.
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