Another World
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Another World

Another World: Migration

First of all, thank you all for your tremendous support and patience even in these challenging times, and we are pleased to be able to finally share some good news with you all. As the investment deal is finalized, we can now officially announce that we will be migrating to the Klaytn network. Klaytn is a global public blockchain platform optimized for decentralized applications, developed by Ground X, the blockchain affiliate of Korea’s leading IT conglomerate, Kakao.

Klaytn possesses global competitiveness with the best network performance based on transaction response time among all L1 and L2 protocols. Klaytn boasts about 130,000 daily active accounts that could be a significant part of our metaverse users in the future.

Another World, a metaverse platform, shares the key value with Klaytn 2.0’s ‘Blockchain for Metaverse’. We expect to collaborate and communicate with Klaytn and bolster mutual benefit in the future. Klaytn plans to expand into Southeast Asia and the United States, and later East Asia including China and Japan, as well as Africa, Latin America and Europe. Another World will strive to expand its userbase in alignment with the growth of the Klaytn ecosystem.

Another World will obtain various entertainment IPs(webtoon, game, Kpop, and more) that are currently expanding their business into web3.0 in the Klaytn ecosystem. This will serve as the focal point of massive blockchain adoption for the entertainment business and drive a rampant influx of new users into our metaverse platform.

The decision to migrate to the Klaytn chain was followed by an exhaustive evaluation and analysis that was primarily weighed in by our need for a fiscal injection and its size. Considering the time and capital invested into developing the metaverse project, we needed a significant investment as we faced a substantial loss from the Terra chain’s depeg incidence. We received a good number of offers from several chains, and Klaytn seemed to be the most enthusiastic partner proposing a reasonable amount of support in many aspects.

To continue the project while mitigating the financial loss of our holders, we had to go through the struggles and challenges of making important decisions over the past couple of weeks. To turn around this major crisis of the chain collapse and the consequent issues Another World had to face, redesigning our Tokenomics from scratch was inevitable for new investment. Finding the perfect conditions for the investment that could keep the value of our holders’ assets was not an easy process, but we came to a compromise between both parties by making some agreements. And we would like to share the changes with the members of our community.

The assets currently locked in the Vault will be airdropped with a lock-up period following the TGE(Token Generation Event) of the newly launched Another World Foundation. The value ratio of the newly generated token to our previous token will be 1:1; the 10% of the total amount locked will be claimable immediately and the rest 90% will be released linearly with a 4-year vesting period (1-year lockup & 3-year vesting). Please understand that the vesting period was determined in consideration of the project’s growth, and further details regarding vesting will later be announced.

Read about Klaytn(English)

Read about Klaytn(Korean)

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