TL;DR
- The TON community implements Society DAO, a new governance model aimed at enhancing decentralization and active user participation.
- The Open Network Foundation focuses on mitigating centralization, allowing community members to allocate resources and establish growth strategies.
- TON Space, the integrated wallet in Telegram, has been updated to offer custody and self-custody options, improving accessibility for over 100 million users.
The TON community prepares for significant advancements in its governance model with the arrival of Society DAO, a new approach aimed at enhancing decentralization and user participation.
The Open Network Foundation works on tools designed to mitigate risks associated with centralization, a phenomenon that has characterized many blockchain platforms in their early stages. As the ecosystem grows and diversifies, the need for a model that favors competition and autonomy becomes increasingly evident.
Dealing with the Concentration of Power
Since its inception, TON has been based on a community-focused approach. The validator community has played a crucial role in the network’s security and integrity. In light of the project’s rapid evolution, the foundation has assumed a central role in business development, raising concerns about the concentration of resources and capital. Society DAO aims to address these concerns by redistributing the power of resource allocation to the community, allowing active members to determine growth strategies and objectives.
The Society DAO model is based on creating a competitive environment where at least two projects in each category have the opportunity to excel, which will help promote innovation within the ecosystem. This approach not only encourages projects to reach performance indicators but also fosters a dynamic and resilient ecosystem. The Foundation has tested this model with various teams, achieving positive results that point to a promising future for the autonomous development of the community.
TON Wallet Reaches Over 100 Million Users
In parallel, updates have been announced for its integrated wallet in Telegram, known as TON Space. The wallet has reached over 100 million users. The new features will include custody and self-custody options in a simplified interface, making it easier for users to navigate between both storage models. The integration of decentralized applications, decentralized exchanges, and staking services promises to enhance the wallet’s accessibility and competitiveness.
The TON Foundation has also forged a partnership with HashKey to expand access to fiat transactions in the Asia-Pacific region, broadening possibilities for users