The Open Network Foundation, in partnership with the TON Society, has announced the launch of Society DAO, a new management model aimed at driving more user engagement in the TON Blockchain ecosystem. The announcement comes during the TON Gateway 2024 event held in Dubai to celebrate the TON Ecosystem and reveal significant updates.
A decentralized Autonomous Organization (DAO) is a self-governing, blockchain-based organization that operates without central authority. DAOs enable decentralized decision-making, transparency, and community-driven management. Some existing ones include JupiterDAO and Sky (formerly Maker DAO).
Why Launch Society DAO?
TON Foundation argued that blockchain ecosystems usually face governance challenges because direction and support are sourced from a central body. It further noted that this centralized model becomes restrictive, making it difficult for projects to succeed without official backing. This stifles competition and innovation, resulting in operational inefficiencies.
To overcome this, the foundation highlighted the need for decentralized and community-driven governance models to distribute resources efficiently. It claims these models ensure the ecosystem’s long-term health and resilience. TON Foundation believes Society DAO is the right instrument that will enable the blockchain to support diverse projects and contributors.
How Society DAO Works
Society DAO will serve as the organizing body for TON’s core ecosystem functions and enable collaborative growth. It will publish ecosystem goals, allowing members to propose strategies and critical results. Specialized working groups will then evaluate these proposals.
The TON Foundation will support it by providing resources, ensuring compliance, and reporting on goals and strategies. After the approved proposals receive funding from the foundation, the teams responsible for them will execute them as planned.
In 2025, Society DAO will launch its public debate and voting platform that will utilize TON Society on-chain badges, earned by over 3.6 million users, as a reputation marker. Active community members will have a voice in decision-making to foster collective engagement.
As the DAO grows, it will expand to include other community teams and welcome contributors from various fields, such as marketing, app development, technology, stablecoin integration, DeFi, and community growth. The TON Foundation hopes this decentralized model will empower the community to become key stakeholders in TON’s development and adoption.
