TON launches platform for on-chain governance voting

Decentralised L1 blockchain The Open Network introduced a governance platform, Ton.vote.

It is developed in tandem with third-level blockchain infrastructure Orbs. This integration protects the voting process from unauthorised access.

With the new platform, Toncoin holders will be able to participate in decision-making across all projects in the network. At the time of writing, tokens were locked on three DEX with a total value of $7 million, according to Defi Llama.

In the last 24 hours, in the wake of the news, the TON token rose 0.57% to $2.35. Trading volume rose 98% to $40 million, according to CoinMarketCap.

Earlier in February, the TON development team outlined the project’s development milestones for the coming year.

On 21 February, 91.75% of TON validators voted to suspend 194 wallets with a combined balance of 1.08 billion Toncoin ($2.5 billion), which had not conducted a transaction since the distribution of coins from 2020 to 2022.