Orbs Launches TON.Vote: A Revolutionary DAO-Based Governance Solution for The Open Network (TON)

Orbs Launches TON.Vote: A Revolutionary DAO-Based Governance Solution for The Open Network (TON)

Orbs, the Layer-3 infrastructure network for decentralized apps (dApps), has unveiled the permissionless beta launch of TON.Vote, a groundbreaking governance solution based on Decentralized Autonomous Organizations (DAOs) for The Open Network (TON). According to Orbs, any TON-based project interested in incorporating DAO-based governance can now leverage TON.Vote. Notably, STON.fi, EvAA, TON Punks, and Fanzee have emerged as the initial launch partners for this innovative platform.

The development of TON.Vote involved a close collaboration between Orbs and the TON Foundation, which served as the primary design partner for the app’s creation. This partnership aimed to cater to the needs of both The Open Network and its ecosystem projects.

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Thanks to TON.Vote, all governance ideas and votes can now occur on-chain. The merkle tree of all votes is openly maintained on IPFS (InterPlanetary File System), enabling independent verification by any user. When a user submits a proposal, a smart contract is generated containing a reference to the merkle tree of all votes. TON.Vote users can then submit their votes (yes/no/abstain) through a transaction to the smart contract. The current implementation handles these votes off-chain before determining the results. Eventually, users’ votes will only require a digital signature from their wallet, secured by IPFS. If a universal wallet signature is adopted by all dApps, votes will be verified using a wallet sign and become gas-free.

To enhance security, TON.Vote incorporates Orbs’ L3 Guardians technology. This technology ensures that the votes displayed in the user interface (UI) align with those stored in the smart contract’s data, adding an extra layer of transparency and integrity. Orbs Guardians verify the information presented on the front end to prevent data inconsistencies, thereby strengthening the overall process.

Following its soft launch, TON.Vote facilitated two significant community votes for the TON community and its ecosystem. The first vote centered around the “Proposal of TON Tokenomics Optimization,” which sought community input on whether to freeze inactive Genesis mining wallets after 48 months. These wallets, holding over 20% of the total $TON supply, had caused considerable concern. With a resounding “Yes” vote, 71% of the community opted to end the uncertainty by releasing 171 Genesis wallets. The election witnessed over 1.4 million votes.

The second vote involved over 695,000 $TON holders and determined the prize rankings for TON's recent "Hack-a-TON" x DoraHacks competition.

The second vote involved over 695,000 $TON holders and determined the prize rankings for TON’s recent “Hack-a-TON” x DoraHacks competition.

As official launch partners, four prominent TON-based projects have joined the TON.Vote dApp. These include TON Punks, a leading NFT and Play-to-Earn project on TON, Fanzee, a fan interaction platform, STON.fi, one of TON’s top decentralized exchanges, and EVAA, a decentralized lending protocol. These partnerships aim to decentralize governance and grant communities the opportunity to participate in future decision-making processes.

With the introduction of TON.Vote, The Open Network and Orbs are ushering in a new era of decentralized governance on one of the most innovative and robust Layer-1 networks available.

Compiled by Coinbold