Ton Foundation launches Society DAO to drive decentralization
Ton Foundation Society says The DAO is the Open Network ecosystem's path to decentralization. Society DAO helps bring transparency and inclusion to the Ton community.
The Open Network Foundation is looking to strengthen the blockchain network's decentralization with a new governance model.
On November 1st, the Ton Foundation announced the launch of a community DAO aimed at developing a decentralized ecosystem.
Society DAO is a governance framework that helps the Tone community benefit from the key elements of decentralization, transparency, and inclusion, Tone Foundation President Steve Yun and Tone Society Founder Jack Booth wrote in a blog post.
Tons to Decentralization: Community DAO
Talk is easy, action is hard, and it doesn't get much better than trying true decentralization on Web3!
That's why the Open Network Foundation Society is giving this motto by introducing DAO – a new community-driven governance… pic.twitter.com/zZjkfm2OHa
— Ton 💎 (@ton_blockchain) November 1, 2024
The new governance model aims to democratize access to financial, social, political and human capital.
“Community DAO will grow by incorporating proven and prominent community groups that can propose and execute plans that support the ecosystem's goals. It welcomes new contributors in roles such as marketing, app development, technology, stablecoin integration, DeFi, community development, identity and more. This model will make the bright minds of the community key stakeholders in the development and adoption of tons, the officials said.
According to the Ton Foundation, key features of the Community DAO include publishing the Ton Ecosystem's goals and community proposals. DAO members can propose strategies and provide expected timelines and outcomes for ecosystem goals. The DAO provides workgroup reviews and authorization.
The DAO will publish a list of key initiatives for the first half of 2025 in January, the Ton Foundation said.
However, in general, Society DAO plans to achieve goals such as setting up a blockchain network for real-world assets and a super app market.
