What is Kaia?
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 5 min
In short
Kaia is the blockchain formed in 2024 by merging Klaytn, developed by South Korea's Kakao, with Finschia, which came out of LINE. Its stated aim is to bring blockchain services to the user base of major Asian messaging apps from inside those apps. It is EVM-compatible, and its native asset is KAIA.
Key points
- Created in 2024 by merging Klaytn (from Kakao) with Finschia (from LINE)
- EVM-compatible, so Ethereum development tooling works directly
- Designed around access from mini apps running inside messaging apps
- Former KLAY and FNSA were converted to KAIA at set ratios
Definition
An EVM-compatible layer 1 blockchain formed in 2024 by the merger of Klaytn and Finschia.
Klaytn launched in 2019 from a Kakao affiliate, positioned around low fees and fast finality for enterprise use. Finschia was run by a LINE affiliate and was likewise designed around a messenger user base. In 2024 the two foundations agreed to merge, producing a new chain called Kaia.
At the merger, the legacy KLAY and FNSA tokens were converted to KAIA at set ratios. The validator sets carried over, with companies from both sides running nodes. Technically it remains EVM-compatible, so contracts and tooling written for Ethereum work as-is.
The stated rationale is the path in from messaging apps: letting a mini app inside the messenger create a wallet or receive tokens without installing anything else. The idea is to reach people who have never used crypto before.
Rollouts so far have centred on games, loyalty points and NFTs. Because messenger operators' policies and app store rules are decided by those platforms, though, that path in can change for reasons outside the chain's control — a structural feature worth noting.
Watch out for
- · Plenty of pre-merger Klaytn and Finschia material is still circulating and may not match current behaviour
- · Part of the user funnel depends on messaging apps, so platform policy changes affect it
- · Conversion ratios and deadlines for legacy tokens come from official announcements, and exchange handling varied
Frequently asked questions
What happened to KLAY holdings?
It was converted to KAIA at the ratio set for the merger. Balances held on exchanges were generally handled by the exchange, so check that venue's announcement.