Toncoin

Foundation

<ul> 
 <li aria-level="1">Society DAO Aims To Reduce Centralization Risks by Distributing Decision-Making Power Across Respected Community Members.</li> 
 <li aria-level="1">New Governance Model Supports Multiple Projects Within Categories, Encouraging Competition and Innovation Within the TON Ecosystem.</li> 
</ul> 
The Open Network Foundation (TON Foundation) has launched the Society DAO, a governance model aimed at enhancing the decentralized management of the <a href="https://www.ethnews.com/rising-star-or-black-hole-toncoin-faces-network-congestion-as-new-game-launch-looms/">TON ecosystem</a>. This new framework is designed to distribute governance across the community, supporting TON’s principle of decentralized operation from its inception. 
Since its establishment, TON has been governed by community efforts, including validators and developers who have contributed to the platform’s development and integrity through open-source contests and decentralized initiatives. 
The <a href="https://www.ethnews.com/chorus-one-introduces-ton-pool-the-first-institutional-solution-for-scalable-ton-staking/">TON Foundation</a> has historically guided the ecosystem’s expansion, promoting a community-centric approach that aligns with the network’s decentralized ethos. 
The <a href="https://blog.ton.org/ton-s-path-to-decentralization-the-evolution-of-the-governance-model">Society DAO</a> represents an evolution in governance, aiming to mitigate the centralization risks associated with the previous model where the Foundation played a central role in resource allocation. This change is intended to prevent potential vulnerabilities that could arise from having a single point of failure in the ecosystem’s governance structure. 
Under the Society DAO, governance will transition to a more community-driven approach. This includes a system where decisions on resource allocation are made collectively by respected members within the community.&nbsp; 
The DAO is structured to foster transparency, inclusivity, and active participation, with an emphasis on maintaining competition by supporting multiple projects within the same category to ensure no single entity monopolizes the ecosystem. 
The decentralization process, as envisioned by the Society DAO, involves multiple stages. Initially, the Foundation will continue to provide strategic oversight but with reduced direct involvement in day-to-day operations. This setup is intended to gradually empower community leaders and contributors to take on more responsibility for the ecosystem’s direction and growth. 
As part of its strategy to enhance community engagement and decentralization, the Society DAO will facilitate access to resources through democratic processes, allowing community validators and developers to propose and vote on initiatives directly. This method aims to distribute power more evenly and prevent resource concentration that could stifle innovation and diversity within the ecosystem. 
The introduction of the Society DAO is a significant step toward actualizing a fully decentralized governance model within the <a href="https://www.ethnews.com/how-toncoins-holder-count-skyrocketed-over-2200-this-year/">TON ecosystem</a>, emphasizing the importance of community involvement and leadership in shaping the future of the network. 
This shift is expected to lead to more robust and sustainable development, fostering an environment where innovation can thrive through collective effort and shared governance. 
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Toncoin (TON) is trading at $4.90, up 1.24% for the day. Recently, it has declined 4.30% over the past week and 8.92% for the month, indicating a correction phase. Key support lies at $4.50, while resistance is at $5.00; a break above this resistance could signal further upside.&nbsp; 
<figure id="attachment_102979" aria-describedby="caption-attachment-102979" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-102979" src="https://www.ethnews.com/wp-content/uploads/2024/11/TONUSDT_2024-11-01_12-04-40.png" alt="TONUSDT_2024-11-01_12-04-40" width="1633" height="959">
 <figcaption id="caption-attachment-102979" class="wp-caption-text">
 Source: Tradingview
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Trading volume is relatively low at $169.29 million, which might be contributing to price stagnation. Technical indicators, including moving averages and oscillators, show a neutral to slightly bearish bias, suggesting consolidation. 
Overall, TON remains in a cautious phase, with slight bearish tendencies unless it can break through the $5.00 resistance. 
The post <a href="https://www.ethnews.com/ton-foundation-introduces-society-dao-enhancing-decentralization-with-community-driven-governance-and-increased-ecosystem-resilience/">TON Foundation Introduces Society DAO, Enhancing Decentralization With Community-Driven Governance and Increased Ecosystem Resilience</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

TON Foundation Introduces Society DAO, Enhancing Decentralization With Community-Driven Governance and Increased Ecosystem Resilience

ETHNews

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