TON Foundation introduces a new governance model, Society DAO, which presents a path to decentralization of TON

by
Alyssa Davidson

Posted: Nov 1, 2024 6:28 AM Updated: Nov 1, 2024 6:28 AM

by well

Correction and fact check date: November 1, 2024, 6:28 AM

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The TON Foundation, the organization responsible for promoting The Open Network (TON) blockchain project, has introduced a new governance model, Society DAO.

This governance framework is designed to enhance decentralization, transparency, inclusion, competition, autonomy, participation and resilience by democratizing access to financial, socio-political and human capital.

Society DAO serves as the organizing body for essential ecosystem functions and includes founding members such as TON Core, which handles core development, upgrades, and maintenance of the blockchain. These include TON Studio, which focuses on developer experience, TON Society, which manages community operations, and Wallet in Telegram, which drives payments adoption.

The TON Foundation will support the DAO by reporting on its goals, key performance indicators (KPIs) and strategies, ensuring compliance, and providing grants and other resources. Society DAO aims to unite and scale proven and reputable community teams that can propose and implement initiatives that align with the goals of the ecosystem. We will also welcome new contributors in a variety of roles, including marketing, application development, technology, stablecoin integration, decentralized finance (DeFi), community growth, identity, and more.

Society DAO publishes the goals of the TON ecosystem, allowing DAO members to propose relevant strategies with specific, time-bound key outcomes to achieve these goals. In addition, relevant members evaluate proposals within expert working groups. Once approved by the DAO, the foundation will fund the plan and the community team will be responsible for monitoring progress and performance.

Society DAO sets ambitious goals for the TON ecosystem, targeting real impact by 2025.

Among the company’s initial goals are to position TON as the gateway to real-world cryptocurrency use cases, establish it as the most stable and scalable blockchain, and grow the community of developers and users within the super application marketplace. Society DAO plans to publicly share major plans and expected results for the first half of 2025 by January 2025.

Additionally, in 2025, Society DAO plans to launch a public discussion and voting platform to enhance its transparency and community-driven focus. The platform utilizes the TON Society on-chain badge as a reputation indicator, allowing active community members to have a say in the decision-making process. Once operational, this platform will allow DAO members to be informed by genuine opinions from an active community.

Overall, Society DAO aims to increase the competitiveness, decentralization, and resilience of the TON community. The ultimate goal is to build a stable and scalable organizational structure. As this model continues to be validated, it is expected to foster autonomous communities capable of collective action.