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The Open Network (TON) Foundation has introduced Society DAO, a new model that encourages community members to get involved in decision-making. This approach aims to shift power away from a central authority. It is a radical transformation that redefines how decisions are made and resources are allocated within the TON ecosystem. It is poised to foster a more resilient and autonomous ecosystem for all stakeholders.
TON Foundation Shifts Towards Decentralization
The TON Foundation acknowledges that the centralized governance model was useful in the early stages of the ecosystem. But now has limitations as the network grows. Society DAO is created to let community members take part in resource allocation, project management, and strategic decisions. All these will help in promoting growth and independence within TON.
Steve Yun, President of the TON Foundation, and Jack Booth, co-founder of Ton Society, highlight the importance of empowering the community. They stress that this initiative seeks to remove the risks associated with having a single point of failure in centralized governance.
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TON Ecosystem Democratize Decision-Making
At the heart of Society DAO lies the belief that every voice matters. Community members can propose initiatives that align with the collective vision of TON. These proposals will outline goals, timelines, and measurable outcomes, transforming ideas into actionable plans. The democratic process ensures that resource allocation is not a privilege but a shared responsibility.
Specialized working groups made up of DAO members with relevant expertise will evaluate these proposals. This is to ensure that each initiative aligns with the community’s vision. Approved projects will receive funding from the TON Foundation. Notably, the progress of the projects will be monitored to maintain alignment with the initial goals.
Society DAO Aims to Build a Thriving Ecosystem
Society DAO aims to make TON a leader in real-world cryptocurrency applications and establish it as a stable and scalable blockchain. The foundation wants to build a strong community of developers and users to encourage growth through community-led initiatives.
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The DAO will serve as the main organizing body for important functions within the TON ecosystem. It will include key groups like TON Core, which focuses on maintaining and improving the blockchain, and TON Studio, which helps developers turn their dapp ideas into reality. TON Society will also play an important role in engaging and supporting the community.
In January 2025, Society DAO will reveal its main initiatives for the first half of the year and seek feedback from the community. This open communication is essential for guiding the DAO’s future direction and highlights the value of teamwork.
As the DAO progresses, it will look for contributions from skilled members in areas like marketing, app development, decentralized finance (DeFi), and identity solutions.
