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Privacy infrastructure Nucypher proposed to merge with the Keep network, with both core teams still operating independently

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This is the first proposed merger of decentralized, on-chain networks, but it will still require community input before the merger is finalized.

On March 9, privacy infrastructure Nucypher announced a proposed merger with a decentralized network called Keep, which will be called Keanu. According to Nucypher, this is the first ever proposed consolidation of decentralized, on-chain networks.

Like Nucypher, KEEP is a threshold password network. The main application currently running on Keep is TBTC, a decentralized, Bitcoin-backed ERC20 token that enables Bitcoin holders to participate in Ethereum's DEFI ecosystem.

The first component of the Keanu network is a pledge contract that accepts both NU and KEEP, each with a DAO-specified pledge weight, and a mechanism that allows existing NU pledge holders to opt in directly as well.

There will be no token exchange or destruction as part of this proposal. In addition, the proposal states that the Keep and Nucypher core teams will not merge, and that they will operate independently with an interest in the Keanu network.

The proposal requires Nucypher and Keep stakeholders to express their views in the forum on whether they support such a merger. In addition, Keanu is a code name, and the name of the merged network needs to be discussed by the two communities. Nucypher Pledges, Node Operators, Service Providers (Wallets, Exchange or Custodians) or Token Holders are not required to take any action at this time. For the time being, things will continue as normal.