Keep, NuCypher communities back protocol merger plan on Ethereum
June 16, 2021, 12:03PM EDT
1 min read
In March, a pair of Ethereum-focused development teams proposed a merger of their respective protocols.
Months later, the communities around Keep Network and NuCypher have approved the merger plans, according to a Tuesday announcement post. Both votes took place on Friday.
"The snapshot vote concluded Friday after months of community collaboration, and we’re delighted to announce that the Keep x NuCypher network upgrade is moving forward with approximately 93% of individual Keep stakers voting for the initiative and 78% of staked KEEP supporting the measure," the Keep team wrote.
NuCypher holders approved their end of the vote unanimously, per a separate blog post.
"The proposal received unanimous support on the NuCypher side. It was simultaneously approved on the Keep side, which means the first-ever on-chain network upgrade to combine two decentralized networks will proceed," the post explained.
Successful votes in hand, the merger projected, dubbed KEaNU, now moves toward implementation, specifically the development of the "staking contract for KEaNU and the associated adapters to grandfather in existing NU and KEEP stakes," per NuCypher's post. This process will take place as Keep's team works on the next version of its wrapped bitcoin project, TBC. Future community decisions will focus on the governance aspects of the KEaNU decentralized autonomous organization, or DAO.
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