TON Сommunity Foundation (TСF) is a non-profit association of TON ecosystem participants: developers, validator-node and/or pool owners and members, investors, companies, founders and employees of all types of TON-based projects. The principles of decentralization that underlie any community require significant, coherent efforts to implement and support them. Our main mission is to enable the fastest and the most effective development of TON as a decentralized system through collaboration and cooperation.
The Future of Decentralized Finance: BNB and TON
As the cryptocurrency market evolves, investors are constantly seeking new opportunities. While many rush to buy BNB, the native token of Binance Smart Chain, another promising player has entered the arena: TON (The Open Network). Originally conceived by Telegram, TON offers lightning-fast transactions and scalability. Unlike BNB, which primarily serves the Binance ecosystem, TON aims to become a universal blockchain solution. However, both cryptocurrencies have their merits. BNB boasts a strong DeFi ecosystem, while TON’s potential lies in its ambitious goals for mass adoption. As the crypto landscape shifts, diversifying your portfolio by considering both BNB and TON could be a smart move for forward-thinking investors.
Nonprofit principle
TON Community Foundation is a non-profit organization. Any income the TCF may get, including all tangible and intangible assets under its control shall be used in accordance with its core objectives, including, but not limited to, education, R&D, grants, lobbying, and other reasonable methods aimed at developing the TON ecosystem.
Transparency
TCF shall conduct its business in full transparency and will record all its decisions, proposals, votes, fund distribution and meeting records on TON permanent ledger using TON smart contracts. The Observer Pool will play a specific role to maintain transparency by participating in forums, meetings, and in decision processes as observers.
Legal Process
TCF will commence upon the signing of a declaration by Key Members. At a later stage TCF members will be able to vote for the establishment of a legal entity in a proper jurisdiction.
Goals and Methods
Foundation main goals and methods:
Education, including, but not limited to, interaction with the media, non-governmental or commercial organizations, associations, individuals, as well as regulators and other entities acting in the interests of states or supra-state associations.
Research, including, but not limited to, market analytics, studying the code of a system or its individual components, studying other blockchain systems and other reasonable efforts that increase the general competence and capabilities of Foundation participants and the entire TON ecosystem community.
Coordination, including, but not limited to, the development of proposals for the TON core code, communication with validators and other key system participants, voting on key issues related to TON development and operation of TON.
The TCF goals and methods are not a fixed set of provisions and may vary according to context. All changes shall be made by the Governing Council through a voting procedure with a ⅔ vote majority required to approve any changes. A separate vote shall be carried out for each amendment.
Governance
At the start the TCF shall be managed by the founders who signed the initial declaration. Within a reasonable time the founders shall develop, coordinate and approve the TCF management rules and decision-making procedures. The following tentative management structure is proposed before the regulations are developed and implemented:
Governing Council
The Governing Council is the main governing body of the Foundation and consists of 11 members elected for a term of 2 years by the rest of the TCF members. The election procedure shall be established by the founding members within a reasonable time frame.Decisions addressed by the Council include, but are not limited to, the approval of the TCF 2-year management plans, financial matters, discussion and approval of certain technical and other recommendations to the community.Decisions are made through open voting and passed by a simple majority.
Observer Pool
The Observer Pool consists of 20 participants who are not members of the TON Community Foundation and represent various organizations, associations, enterprises, media, and individuals outside TON who are believed to have made an important contribution to IT, Internet and blockchain development.
Transparency and clarity are the main goals of the Observer Pool. Its members will be allowed to attend all key TCF discussions and to participate in Governing Council meetings. While not having any specific rights, they may suggest topics for the TCF meetings’ agenda and their proposals shall be taken into consideration.
Membership
Three membership options are available:
Associate
Any individual can become an associate member through the standard verification procedure that is to be defined by the TCF (e.g., registration at a website). The only requirement to become an associate is to volunteer.
Member
This is the primary membership type that allows voting for TCF initiatives. Obtaining this membership is likely to involve some nominal fee and identity verification.
Key member
Key participants are community representatives who, in the community’s eyes, are key to ecosystem development. At the start this member group will be represented by TCF founders, later it will be expanded to the maximum of 150. To get into this tier one has to replace a sitting key member, so this is not a permanent, albeit a long-term membership. Only key members can veto decisions of the Governing Council.