First Finschia Governance Members to Be Announced Soon
Hello, this is the Finschia Foundation.
In July 2023, Finschia will initiate Finschia Governance consortium system as part of its preparation for a full transition to the public blockchain. The disclosure of the first Finschia Governance Members (hereinafter ‘FGM’), acting as a stepping stone for Finschia Governance, will allow external validator to join the nodes gradually. Governance is the process of moving towards an open ecosystem. Together with the FGM, who play a key role in various sectors, Finschia strives to build a vast ecosystem to become a global No.1 Web3 infrastructure.
What is Finschia Governance?
Finschia is making many preparations to move to a public environment. The Finschia Foundation operates the mainnet and the FNSA virtual asset, while Finschia Governance sets key policies for their operation. Governance plays a vital role in driving change across Finschia and is composed of leaders from various industries that positively impact the Finschia ecosystem. Leveraging the unique capabilities and advantages of each governance member is crucial to ensuring competitiveness and maximizing the mutual strength between the Finschia Foundation and its governance members. With a focus on solid community building, stable network operations, and a transparent and fair system, Finschia separates roles within the consortium system.
Finschia Foundation and Finschia Governance within a consortium system
How Finschia Governance is differentiated
- The Finschia Foundation does not lend FINSHCIA (FNSA) to partners who wish to participate in Finschia Governance.
- The Finschia Foundation does not delegate FINSCHIA (FNSA) to partners who wish to participate in Finschia Governance.
- The Finschia Foundation does not use FINSCHIA (FNSA) simply to leverage partners’ brand value.
- Finschia Governance members must self-finance FINSCHIA (FNSA) to participate in the ecosystem.
- Finschia Governance members must seek for ways to contribute substantially to the Finschia ecosystem and to derive expected effects proportional to their contributions.
Finschia’s transitional phase to public blockchain
Guidelines for the Finschia Governance node operation
When the new node of the FGM is generated, the existing node of the Finschia Foundation becomes inactive or invalid after 3 weeks from the eligibility of delegating to new nodes. As a result, the FINSCHIA (FNSA) holdings need to be transferred from the current eight nodes to the new node. Please refer to the upcoming separate guidance for detailed instructions and ensure timely action.
※ The deposited amount of FINSCHIA (FNSA) will be preserved during the node change. But, FNSA staking reward will not be granted.
The unveiling of the primary Finschia Governance member is imminent as the Finschia Foundation proceeds with the transfer of nodes starting in July. By fostering partnerships and collaborative efforts, the Foundation aims to establish a strong ecosystem that offers various opportunities for participation and contributions.
Please continue to show us your support for the ongoing journey of Finschia.
If you require any assistance or have any questions, please contact our team here.
We are the blockchain for all.
Finschia Foundation
Disclaimer: The FNSA staking and swapping activities available on the blockchain mainnet “Finschia” are not regulated and are not provided under the Finschia Foundation license.
