⎮Headlines
- ✓ [Finschia] Finschia Foundation Announces First Finschia Governance Members, Including SoftBank, LINE NEXT, and LINE Xenesis
- ✓ [Finschia] Finschia commences external validator node operations (LINE Blockchain Scan > mainnet staking)
- ✓ [Finschia] Finschia joins AwesomWasm 2023 to share insights on ‘funding in bear market’ and ‘Dynamic link: smart contract interaction method’ (refer to the conference recap below)
- ✓ [Finschia] LINE NEXT highlights Web3 mass adoption with Token Economy 2.0 and Zero Reserve policy at Xangle Adoption 2023
- ✓ [Finschia] GAME DOSI signs MOU with SEGA to develop Web3 game
⎮ Conference Recap — 2023 Finschia Summer Conference
- Xangle Adoption (Seoul), AwesomWasm/HackWasm (Berlin), WebX (Tokyo)
July 2023 proved to be a bustling month of conferences for the Finschia team. The Xangle Adoption event was held in Seoul from July 11th to 12th, followed by AwesomWasm and HackWasm in Berlin from July 12th to 16th, and WebX Asia, Japan’s largest annual Web3 event, in Tokyo from July 25th to 26th.
1. Xangle Adoption
Last month, LINE NEXT joined Xangle Adoption in Seoul to discuss LINE’s Web3 strategy. Recognized for its remarkable zero-reserve policy, Finschia is set to evolve into a blockchain that provides practical public services and transcends its previous blockchain role rather than a mere investment commodity.
In addition to the Finschia data section, Wonseok Kim (the Finschia Biz Lead of LINE NEXT) highlighted that since the launch of Token Economy 2.0, Finschia has successfully kept user fees low and maintained alignment between its fully diluted value* and market capitalization. This alignment has persevered despite network congestion and a notable surge in transaction volume, demonstrating the robust stability of Finschia’s network and a reduction in potential market selling pressure among token holders. Finschia’s commitment to network stability was further underlined by its collaboration with Xangle during this adjustment, which was well received. Aiming to introduce a novel blockchain model that differs from existing ones, Finschia is continuing to make significant progress in the industry.
❖ Fully diluted value: The total value of FNSA tokens assuming all tokens are currently being traded or in circulation in the market.
2. AwesomWasm/HackWasm
We attended CosmWasm, an event that brings together teams from across the Cosmos ecosystem to share different facets of Finschia through keynotes, panel discussions, and tech talks. This was our first time attending a conference abroad, and it was a valuable opportunity to engage with different teams, immerse ourselves in the Web3 atmosphere in Europe, and spread the word about Finschia.
Following on from AwesomWasm, HackWasm unfolded as a hackathon, giving teams 48 hours to innovate around their chosen theme. Here’s an insight into how one of the projects on our theme used Dynamic Link*, an exclusive Finschia technology, to create a smart contract.
❖ Dynamic Link: A smart contract interaction method developed by LINE (watch)
The structure diagram above shows the smart contract as a smiley. If User A decides to stake X amount of tokens, this smart contract will autonomously place a stake (bet) on the node offering the highest rate at the time of staking (uCony or uBrown as shown). In this process, User A receives an NFT as proof of the staking, which is transferable and tradable. Consequently, if User B chooses not to deposit at the node with the higher interest rate, they retain the option to purchase User A’s NFT and get a more favorable interest rate.
For those intrigued by Finschia’s development documentation, it is available on the Finschia Docs.
3. WebX Asia
Web X, the flagship annual Web3 event hosted at Tokyo’s largest venue in Japan, captivated more than 15,000 attendees across its two-day run. Wooseok Kim, Director of the Finschia Foundation and Business Director of LINE NEXT, delivered a keynote speech shedding LINE’s strategic approach to Web3. The event enabled us to engage with diverse teams and immerse ourselves in Japan’s growing passion for web-centric ventures.
⎮ Finschia Governance Member Interview: GoodGang Labs
Hello, could you please introduce yourself?
Hello, I’m Doo-kyung Ahn, CEO of GoodGang Labs. I planned the Pudding Face Detector (an iPhone application that allows you to take a picture and find out which celebrity you resembles) at KTH and did product management for camera products such as B612 (all-in-one camera and photo/video editing app), LINE Camera, and Foodie (camera app customized for food photos) at LINE. Since then, I’ve joined Facebook (now Meta) to lead the planning of joint product partnerships such as the Instagram Stories feature, working on platform strategy and execution while partnering with large companies.
What kind of services does GooGang Labs produce?
We have three main product lines: community (communication), avatar expression technology, and NFTs. First, we’re creating a community service called Kiki Town, and we’re developing a solution that uses human-to-avatar technology to generate facial expressions and gestures for avatars from human faces, voices, and text. We believe that an avatar is a digital “Mini Me” that best represents you online, and just as there is only one you in the world, there should be only one avatar for you in the world as well. The technology that makes this possible is NFTs.
On the existing giant platforms, most of the people who contribute to the platform are not getting their fair share of the rewards. We’re also trying to create a Talk To Earn system so that everyone can contribute and get rewarded according to their level of contribution to the avatar chat.
What technology is used for real-time avatar facial expressions?
We utilize face-to-avatar technology, which employs a webcam to capture one’s facial expressions and projects them onto an avatar without requiring any additional hardware. This technology operates seamlessly within a web browser, making it an exclusive and distinct feature.
Additionally, we have incorporated text-to-avatar technology. In today’s AI-driven landscape, a substantial amount of content is generated in text form, which many not be as visually engaging as video. To address this, we’ve adopted generative AI technology that enables avatars to convey facial expressions and body language that align with the provided text. In essence, users can input text, and the avatar will deliver the message in a human-like manner.
How did you get involved with Finschia?
Faith and trust are pivotal in leading a Web3 project. With my background at LINE, I have a strong belief in both the company and the people behind the LINE Blockchain, which serves as the precursor to Finschia. Moreover, given our primary focus on NFTs, collaborating with DOSI was naturally aligned, leading us to establish a partnership with Finschia. As we prepared to integrate DOSI NFTs into the Kiki Town platform, our connection with Finschia grew stronger.
What is it like working closely with DOSI?
Currently, the avatars in the DOSI Wallet are more like single images, and initially, DOSI Citizen holders will be able to experience avatars that mimic human facial expressions by using our technology. DOSI Citizens are made in 2D while our BeerGang NFTs are based in 3D for greater entertainment. In the future, projects that join the Finschia ecosystem will be able to upload their NFTs according to our specifications, and everyone will be able to actively communicate in Kiki Town. Also, if you want to present something, you can write a manuscript in text and then use the text-to-avatar technology to make a video presentation with a DOSI NFT-based avatar that moves with your facial expressions. Once the platform project is stable, I look forward to doing more business with Finschia, where FNSA can be used as a payment method on Kiki Town and our other platforms.
❖ DOSI and GoodGang Labs are part of the Finschia ecosystem, serving as Finschia Governance Members and developing and operating services based on the Finschia network.
What is BeerGang?
BeerGang is the first avatar project that showcases the identity of GoodGang Labs. As the metaverse era is coming, they felt that the 3D era will be coming along with it, so they wanted to create avatars that express their own sensibility and allow them to fully express themselves in the 3D world. BeerGang’s beer is a cute and fun concept that reveals the personality of GoodGang Labs in line with the essentials of crypto and Web3. Beer has the largest market size in the global beverage market, and the main crypto user base consists of men in their late 20s to early 40s. And a beer that never fails to bring the party.
If so, any expectations for your participation as a Finschia Governance Member (FGM)?
Currently, most Web3 projects seem to prioritize investment. However, we’re interested in using blockchain technology to address common challenges faced by people, leveraging our experience in creating products and services. We aim to engage as a Finschia Governance Member (FGM) and work towards a user-friendly mainnet that addresses public needs.
Are there any plans to offer benefits to FNSA holders who stake on GoodGang Labs node?
Of course, we’re looking into the possibility of offering benefits to both FNSA holders and BeerGang users. We hope to work on it as we go along.
Any final words?
We want to bring utility to NFTs so that users can express their digital selves, and we will continue to work hard with the Finschia Foundation to build a healthy Web3 community where everyone can be equally entertained.
⎮ FNSA Overview
■ FNSA Market Cap: 193.34mn USD
■ FNSA Price: 27.51 USD
■ Monthly Trading Volume: 9.96mn USD
■ Circulation: 7,029,254.1 FNSA
■ Officially Listed Exchanges: LINE BITMAX, Bithumb, Gate.io, Huobi Global, Bittrex Global
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**Disclaimer: This newsletter is issued by Finschia Foundation, the operator of Finschia mainnet and the issuer of FNSA. It provides the information about the business and services related to the Finschia ecosystem. Please note that the business entities may vary depending on the service.
