TON Foundation says Society DAO is The Open Network ecosystem’s path to decentralisation.
Society DAO will also help bring transparency and inclusion to the TON community.
The Open Network Foundation is looking to bolster the blockchain network’s decentralisation with a new governance model.
On Nov.1, the TON Foundation announced the launch of Society DAO, aimed at fostering a more decentralized ecosystem.
Society DAO is a governance framework that will help the TON community benefit from key elements of decentralisation, transparency and inclusion, TON Foundation President Steve Yun and TON Society co-founder Jack Booth, wrote in a blog post.
TON’s path to decentralization: Society DAO
Talk is easy, action is hard, and no more so than in experimenting true decentralization to Web3!
That is why The Open Network Foundation is committing to this head on by introducing Society DAO – a new community-driven governance… pic.twitter.com/zZjkfm2OHa
— TON 💎 (@ton_blockchain) November 1, 2024
The new governance model is also aimed at democratising access to financial, socio-political and human capital.
“Society DAO will grow to include proven and reputable community teams that can propose and execute a plan that supports the ecosystem’s objectives. It will welcome new contributors across roles such as marketing, app development, technology, stablecoin integration, DeFi, community growth, identity, and more. This model will make the community’s brightest minds the key stakeholders in the growth and adoption of TON,” the execs noted.
According to the TON Foundation, Society DAO’s key features will include publication of TON ecosystem goals and community proposals. DAO members will be able to propose strategies and provide expected timelines and results for ecosystem goals. The DAO also provides for working group reviews and grant approval.
The DAO will publish a list of key initiatives for the first half of 2025 by January, TON Foundation said.
However, overall, Society DAO plans to achieve goals such as positioning TON as the blockchain network for real-world assets and a super app market.