Former Ton Foundation executives set up a new community initiative
Former directors of the TON Foundation have officially launched the TON Society, an organization dedicated to advancing decentralization in the Open Network (TON).
According to a press release shared with Cointelegraph, the new entity that operates as a spin-off from the Ton Foundation will manage all Ton events and official community sites.
The Tone Society is led by Jack Booth, former Marketing Director, and Ekin Tune, former Director of Development at the Tone Foundation.
In a Q&A with Booth, co-founder of the Tone Society, he said the company needed to “separate from the Tone Foundation” to “become a spokesperson” for the Tone Society.
While many decentralized communities claim to represent the community's voice, they do nothing to properly organize and achieve true consensus in their community's voice.
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Ton community roots and approach
TON Society originated as a “grassroots initiative” in nine global event centers in Asia and Europe, and now aims to encourage “active community engagement”.
To do this, the company rewards members who participate in events, activities and challenges with OnChain Achievement Badges.
Onchain badges help develop “Member's OnChain Reputation” and member's ton society identity.
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Ton Association ID
The OnChain ID system allows members to “open the doors to reputation-based governance on Ton” and to engage users in Ton projects and promote “deeper community engagement”.
In a written Q&A, Booth said the ID system “integrates with all aspects of the Ton Society” for a variety of purposes, including membership, event attendance opportunities and access to hackathons.
Booth says it will allow users to “participate in some online activities and missions with partners”, get community channel publishing rights and “qualify for airdrops with partner projects”.
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Ton Ventures' $40 million fund
Similarly, former senior members of the Tone Foundation have launched a $40 million fund through a new venture capital firm called Tone Ventures.
The fund aims to support early-stage crypto projects being built in the Ton ecosystem and connect investors with builders to foster innovation and growth on Ton.
In addition to funding provided by Ton Ventures, selected projects will be able to “leverage the team's global resources and extensive experience.”
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