The post TON Foundation Launches Society DAO to Boost Decentralization appeared on BitcoinEthereumNews.com.

The TON Foundation has launched Society DAO, a community-led governance model that fosters transparency and competition within the TON ecosystem. Society DAO reallocates decision-making power and resources to trusted community members, ensuring that the governance framework aligns with TON’s decentralized vision. TON Foundation shared this groundbreaking news with the crypto community through its official X account. 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 Decentralization as a Continuous Process The TON Foundation has advocated for decentralization but acknowledges it as an evolving process. Traditional centralized governance models have limited blockchain ecosystems, concentrating control and resources within foundation-led structures. This setup often stifles competition and innovation, risking over-dependence on the foundation. Layer 1 blockchain ecosystems, like TON, face notable governance challenges as they mature. In centralized systems, foundations control strategy, funding, and core functions, which can hinder the organic growth of independent projects. The TON Foundation’s shift to Society DAO addresses these issues by democratizing access to capital and encouraging a competitive, community-first environment where resources are allocated based on project performance. Society DAO’s governance model encourages competitive innovation by supporting multiple projects within each category. This community-centered approach ensures that the best ideas receive resources without monopolization, creating a more resilient ecosystem. With open-source access to funding and strategic input, Society DAO rewards high-performing projects and motivates developers to prioritize impactful products, making TON a sustainable and scalable network. TON’s Ecosystem Goals for Society DAO Society DAO is set to support core teams handling TON’s foundational functions, including blockchain development, community operations, and payment adoption.…

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Filed under: News - @ November 1, 2024 7:17 pm