The TON Foundation, responsible for the development of The Open Network (TON), has introduced Society DAO, a new governance structure aimed at decentralizing the ecosystem.

Objectives and Structure

The primary goal of Society DAO is to enhance transparency and inclusivity in network governance, ensuring competition and autonomy within the ecosystem. Multiple teams will contribute to the DAO’s creation and support:

TON Core: Focuses on blockchain development and maintenance.
TON Studio: Provides developer support.
TON Society: Manages community relations.
Telegram Wallet: Facilitates integration and payment acceptance.

“The foundation will provide the DAO with support and oversight for its goals, metrics, and strategies, while also offering grants and resources,” TON Foundation stated.

Key Initiatives

Society DAO will work towards establishing TON as a platform for real-world crypto applications and fostering the growth of its user and developer communities. By 2025, the DAO plans to publish its core objectives and ecosystem goals.

“The DAO will expand by engaging experienced teams to execute plans aligned with TON’s objectives. We welcome new participants in areas like marketing, DeFi, technology, stablecoins, and community development,” said Steve Yun, President of TON Foundation, and Jack Booth, Co-founder of TON Society.

Market Impact

Following the announcement, Toncoin (TON), the network’s native token, increased by 1.5% over 24 hours, reaching approximately $4.94, according to CoinGecko.