TON Foundation taps Orbs to launch governance platform TON.Vote
The Open Network (TON), also known as TON Foundation, has partnered with blockchain infrastructure provider Orbs to help decentralize its governance operations and enhance the reliability and security of its features.
The alliance has yielded the launch of TON.Vote, a decentralized on-chain DAO governance platform built exclusively for the TON ecosystem. Under the hood, the governance platform leverages Orbs’ Layer-3 technology to ensure tamper-proof voting across Ton.vote. Token holders that delegate to an active Guardian are rewarded in proportion to their stake.
The Orbs Guardians are an extra assurance layer and independently verify voting accuracy as all data points can be cross-checked. It could also increase the transparency of tokenomics for the community, which includes users, developers, investors, and other projects. Of note, Orbs does not compete with L1s like Ethereum and TON – it runs on top of them.
“Interacting with the TON.vote platform is straightforward. Users can connect their wallet – Tonkeeper, OpenMask, MyTonWallet, TonSafe, Tonhub, or TON Wallet – and use their TON token balance to weigh in on this – and future – proposal(s). Projects and dApps can integrate TON.Vote with ease. The TON Foundation will provide developer documentation to make this process more accessible,” the statement explains.
A first governance vote via TON.Vote saw the participation of 1.1 million TON tokens. The network validators voted on a proposal whether they want to see genesis mining wallets have their tokens frozen after four years of inactivity. The aim is to increase the network’s decentralization by reducing the control of these whale wallets.
This proposal was already passed, and thus the TON supply will be reduced by around 20% through a 48-month temporary freeze of inactive mining wallets, which have never been activated and do not have any outgoing transfer in their history.
TON.Vote will also support the governance activities of many projects on The Open network, making the voting process decentralized and trustless. As one might guess, the aim of this initiative is to smooth experience for everyday users, considering the project was originally conceived by a user-first messaging app to offer an easy-to-use.
TON is a high-throughput layer-1 blockchain designed and developed by the Durov brothers, who created the messenger platform Telegram. Launched in 2018, the network aims to provide a platform for decentralized applications (dApps) and smart contracts. It is based on a multi-blockchain architecture and consists of a master chain, several working blockchains, and sharding protocols.