Karma Finance will be acquired by Goodomy as part of a deal that will restructure both projects.
Goodomy will provide funding for the cash-strapped Karma Finance project. Additionally, a new entity will be created that will operate in a far more decentralized and streamlined manner while still satisfying the needs of both communities. As well, the ‘Karma Finance’ brand will be replaced with the UBI+ brand.
Holders of the Ethereum-based KFI token will receive a swap of the new, Fantom-based UBI+ token. Details on the swap will be released at a later date.