The TON Society, a corporation committed to advancing decentralization and community participation within The Open Network (TON), has been established by former executives of the TON Foundation.
The new entity, which will oversee all TON events and official community channels, will operate as a spin-off from the TON Foundation, as indicated in a press release shared with Cointelegraph.
Jack Booth, the former director of marketing, and Ekin Tune, the former director of development at the TON Foundation, are the leaders of the TON Society.
Booth, the co-founder of TON Society, stated in a written Q&A that the company had to “separate from the TON Foundation” to “become a mouthpiece” for the TON community.
“While many decentralized communities claim to represent the voice of the community, they do nothing to organize it properly and find the true consensus in their community’s voice.“
Origins and Methodology of the TON Society
The TON Society was established as a “grassroots initiative” in nine global event centres in Asia and Europe. Its current objective is to promote “active community participation.”
To accomplish this, the organization will provide members who participate in events, activities, and challenges with onchain achievement.
The onchain logo contributes to establishing an “onchain reputation for its members” and develops the member’s TON Society ID.
TON Society ID
The onchain ID system will allow members to “support TON projects to engage users, foster ‘deeper community involvement,’ and “open the doors to a reputation-based governance on TON.”
Booth stated in the written Q&A that the ID system “will be integrated into all aspects of TON Society” for various purposes, such as event attendance, hackathon access, and membership.
Booth also stated that it would enable users to “qualify for airdrops with partner projects,” acquire community channel publishing rights, and participate in certain online activities and quests led by partners.
$40 Million fund
Former senior members of the TON Foundation established a $40 million fund through TON Ventures, a new venture capital firm, in a comparable development.
The fund’s objective is to encourage the development of early-stage crypto initiatives within the TON ecosystem and to facilitate the connection between investors and builders to stimulate innovation and growth on TON.
TON Ventures will provide financial support, but selected initiatives will also have the opportunity to “utilize the team’s extensive experience and global resources.”
