TON Society has officially launched as an independent entity with the mission to enhance community engagement and further decentralize The Open Network (TON).
Former TON Foundation director of marketing Jack Booth stressed the importance of this step in his effort to “become a mouthpiece” for the community.
By creating TON Society, the group intends to serve as a committed representative of the TON community, emphasizing three main objectives: bolstering ecosystem development, encouraging community engagement at the grassroots level, and improving onchain identity.
The creation of a onchain identity system is one of TON Society’s main goals. Active members will receive onchain achievement badges from this system, creating a reputation system that works with all TON Society functions.
These badges will be essential to participate in governance, get access to events, and be eligible for airdrops and other incentives. Building a strong onchain reputation that encourages project creation and community involvement inside the TON ecosystem is the aim.
Former TON Foundation executives have started TON Ventures, a venture capital business with a $40 million fund, in addition to TON Society. TON Ventures aims to promote innovation in the TON ecosystem and assist startups in the cryptocurrency space. By bringing together investors and up-and-coming builders, this fund hopes to advance the blockchain industry’s expansion and advancement.
The implementation of gasless transactions on the TON blockchain and Toncoin’s placement on Binance are two recent milestones in the TON ecosystem.
These developments, in addition to the founding of TON Society and TON Ventures, are part of a larger initiative to improve user involvement and provide funding for promising initiatives inside the TON network.
Also Read: Toncoin’s 9% Surge Defies Crypto Market Decline
