Announcements, News

Voting Period for KGP-25 to be Extended

Dear Klaytn Community,

The ‘Klaytn <-> Finschia Mainnet Merge’ proposal (KGP-25) has been open for governance voting since 2024.01.26 (Fri) 05:00 UTC, with the voting to close on 2024.02.02 (Fri) 05:00 UTC. 

Since the original proposal and subsequent addendum, there have been continued requests from both the community and governance members asking for more clarity and deeper granularity regarding aspects of the proposal, as so all governance participants can work together to establish consensus.

Adhering to the ‘Necessity of an Explanation and Opinion Coordination Process for Ecosystem Participants’ Klaytn governance policy, the Klaytn Foundation, working on guidance and feedback from GC members, will be extending the current voting period. All parties agreed that an extension to the current voting period will facilitate further constructive dialogue for both Klaytn and Finschia communities required by governance participants in order to make an informed decision.

The decision was made during an ad hoc convening of GC members to discuss the KGP-25 voting period. Klaytn GC members who agreed to an extension of the KGP-25 voting period are as follows:

GC member list required

  • Creder
  • Ground X
  • Ahnlab Blockchain Company
  • Marblex
  • Dorahacks
  • Swapscanner
  • Wemix
  • X2EALL
  • Kracker Labs
  • Quantstamp
  • Krosslab
  • Hashkey
  • Korea Economic Daily
  • Maekyung Media Group
  • Presto Labs
  • Another World
  • Kakao Corp.
  • Kakao Entertainment

The rationale for the extension is as follows, as provided via feedback from the community and GC members:

  1. A significant percentage of both Klaytn and Finschia user communities have provided continuous feedback highlighting the lack of granularity and adequate answers considering the scope of the proposal and potential future impact, and believe the current 7 day voting period is not long enough to be able to make an informed decision.
  2. Several members of Klaytn and Finschia’s governance organizations have also voiced their concerns regarding the level of details provided prior to and during voting, highlighting the need for deeper due diligence.
  3. An addendum addressing community feedback was added to the initial proposal on the evening of Jan 25th (Thurs) KST, and since then, we have received comments that the voting period should have been extended considering limited time that was available to review the updates made to the original proposal.

The extension of the voting period as requested by the community and governance members, is being implemented to allow all governance participants additional opportunities for further clarity and dialogue. No further adjustments will be made to the proposal (KGP-25) itself. 

The adjusted voting period will proceed as follows:

▪️ 1.30 (Tue) KST: Notice of extension to KGP-25 voting period
▪️ 1.31 (Wed) KST: Governance vote suspension
▪️ 2.1 (Thu) KST ~ 2.7 (Wed) KST: Additional documentation providing the community and GC members with deeper levels of granularity to be shared.
▪️ 2.8 (Thu) KST ~ 2.15 (Thu) KST: Voting reopens. 

Thank you for your continued support.

The Klaytn Foundation