TON Foundation Introduces DAO to Decentralize Ecosystem Governance

The TON Foundation, the organization behind The Open Network (TON), has unveiled a new governance model, Society DAO. 

This initiative aims to further decentralize, enhance transparency, inclusivity, autonomy, and competition.

The decentralized autonomous organization (DAO) was founded by teams including:

• TON Core — responsible for blockchain development, updates, and maintenance;
• TON Studio — supporting project developers;
• TON Society — managing community relations;
• Telegram Wallet — facilitating payment acceptance.

“The Foundation will support the DAO by reporting on its goals, KPIs, and strategies, ensuring compliance, and providing grants and other resources,” the announcement stated.

The organization aims to position TON as a gateway for real-world cryptocurrency use cases and to develop a community of developers and users.

By early 2025, Society DAO is expected to publish its key objectives and anticipated outcomes.

“The DAO will expand to include verified and reputable teams capable of proposing and implementing plans that support the ecosystem’s goals. We welcome new participants in areas such as marketing, app development, technology, stablecoin integration, DeFi, community expansion, identity, and more,” noted Steve Yun, President of TON Foundation, and Jack Booth, co-founder of TON Society, in a statement.

Following the news, the native token Toncoin’s price rose by 1.5% in a day, reaching around $4.94 (CoinGecko).

Back in July, TON Foundation developers announced the launch of a cross-chain bridge to transfer bitcoins onto the platform.