TON Foundation Unveils Society DAO to Enhance Decentralized Governance
On November 1 the TON Foundation announced the launch of Society DAO a new governance model designed to foster increased decentralization within its ecosystem while actively involving community members in essential decision-making processes. This initiative is part of the foundation's overarching strategy to promote autonomy and competition within the decentralized finance landscape.
The introduction of Society DAO aims to distribute control over resources and governance functions more broadly by empowering trusted community members to engage in pivotal governance activities. According to the foundation’s press release Society DAO will enable its members to allocate resources and formulate strategies that align with the foundation’s vision and objectives.
Within this newly established decentralized autonomous organization members will oversee a variety of ecosystem functions encompassing core development community operations and payment integrations. The structure will facilitate the formation of decentralized working groups responsible for reviewing and approving proposals thereby ensuring that resource allocation adheres to the core principles of decentralization championed by TON.
Moreover the foundation has instituted a competitive governance framework which mandates that multiple projects within each functional area must satisfy specific performance indicators. This competitive approach is intended to drive efficiency and innovation among participants in the ecosystem.
“Today Society DAO sets the following initial goals” stated the release. “Position TON as The Gateway to Real-World Cryptocurrency Use Cases. Establish TON as the Most Stable and Scalable Blockchain. Grow the Developer and User Community in Super App markets.”
In conjunction with the launch of Society DAO the TON Foundation announced enhancements to its Telegram-integrated cryptocurrency wallet known as TON Space. This upgrade will introduce a self-custodial option allowing users to manage their assets through a unified interface that seamlessly integrates custodial and self-custodial storage solutions.
The upcoming enhancements are expected to include access to decentralized applications (dApps) decentralized exchanges (DEX) staking aggregation services and tools designed for NFT and Jetton giveaways. These improvements signify the foundation's commitment to providing users with a comprehensive and user-friendly experience in managing their digital assets.
