The Open Network (TON), a blockchain platform linked with Telegram, is moving further toward decentralization with the launch of Society DAO, a new governance model aimed at enhancing fairness and access to resources across the TON ecosystem.
Announced on Nov. 1, Society DAO includes four founding groups: TON Core, TON Society, Telegram Wallet, and the new developer group TON Studio. The initiative aims to increase transparency, encourage competition, and foster broader community participation, addressing issues like centralization and limited access to funding, according to TON Foundation president Steve Yun and TON Society co-founder Jack Booth.
Addressing Centralization Risks
The TON Foundation has cautioned against centralization risks within the network, citing reliance on the foundation for funding and support. To address this, Society DAO will empower community members to make decisions on resources and capital, reducing single points of reliance. The Community Model, a key tool for Society DAO, will involve trusted community members who can help set the vision, goals, and resource allocation to align with TON’s growth.
Advancing Wallet Capabilities on Telegram
Alongside the DAO launch, the Wallet in Telegram, a founding member of Society DAO, announced an upgrade that will integrate both custodial and self–custodial wallet options. With the integration of TON Space, a self-custody feature, users can now choose how they manage their assets, giving them enhanced control over their holdings.
Summary Review: TON Foundation’s new Society DAO governance model aims to decentralize decision-making and expand fair access to capital. Including major groups like TON Core and Telegram Wallet, Society DAO seeks to address centralization risks while boosting community involvement. Additionally, Telegram Wallet is introducing a self–custodial option to provide more secure asset management for its users.
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