Kaia Mainnet Is Finally Launching: How to Swap Klaytn and Finschia
2 min read · · Korean original
The Kaia mainnet is finally launching on August 29, 2024. It feels like more than a quarter has already passed since the launch was announced, but it is finally happening. Let's go over the Kaia mainnet launch schedule along with how to swap Klaytn and Finschia to Kaia.
Kaia Mainnet Launch and Timeline
The Kaia Foundation has now completed the establishment and launch of its official foundation in Abu Dhabi, and it plans to carry out technical measures for a successful mainnet migration according to the timeline below.
- Finschia staking halt (August 23): New staking halted; FNSA tokens can be swapped to KAIA tokens.
- On-chain parameter changes (August 26): Reward policies of the Klaytn and Finschia mainnets adjusted.
- Validator offboarding (August 27): Finschia governance members replaced and the chains integrated.
- Finschia mainnet upgrade (August 28): Deposits and withdrawals temporarily suspended for the FNSA token exchange.
- Kaia Portal launch (August 29): Support for FNSA-KAIA token swaps and airdrops.
- Kaia Square launch (August 29): KAIA token delegation added, with support for Public Delegation.
- KAIA trading begins and ticker changes: After the KAIA token is listed, the ticker is expected to change from $KLAY to $KAIA.
How to Swap to the Kaia Mainnet
Since the Kaia mainnet is built on the existing Klaytn, KLAY holders don't need to do anything. However, holders who held $FNSA on the Finschia mainnet need to go to the 'Kaia Portal' and complete a separate swap process.
- Go to Kaia Portal: https://portal.kaia.io
Through the bridging process below, the assets of both the Finschia chain and Klaytn will be integrated and ultimately converted into $KAIA on the Kaia chain. For a while after Kaia's launch, the ticker $KLAY will continue to be used, and it looks like it will then be updated to $KAIA step by step.
Closing Thoughts
Will Klaytn, which has made so many investors cry over the years, finally pay off? Well, Kaia says it has designed tokenomics aiming to become Asia's No. 1 blockchain with a top market cap, but hasn't the performance of "kimchi coins" (Korean-made projects) already been proven throughout history?
Even so, I have actually bought KLAY and am holding it. It would probably be more accurate to say I'm already stuck in a losing position and there's nothing I can do about it. All I can do is hope it shows some good moves after the Kaia integration.
