Market
The Evolution of the Governance Model
Co-AuthoredbySteveYun,President-TheOpenNetworkFoundation&JackBooth, Co-Founder – TON Society
The TON community has matured impressively in the past year. TON keeps connecting the crypto industry to a mass audience of new users, while successful projects constantly emerge. Advocating for decentralization and reactive to community growth and maturity, The Open Network Foundation (“Foundation”) introduces Society DAO, a new governance model.
TON has been community-driven from day one. From its inception, the network has thrived thanks to dedicated community validators, securing its integrity, and resilience. The platform’s growth has been led by developers who won public contests, becoming the leading contributors committed to TON’s vision. TON’s launch was uniquely fair, with initial distribution powered by Proof-of-Work mining, allowing participants to earn a stake. As the ecosystem expanded, the TON Foundation took the helm in business development, fueling a robust and dynamic ecosystem loyal to its decentralized, community-first ethos.
Honoring this DNA, The Open Network Foundation (“Foundation”) introduces Society DAO, a new governance model. We envision a governance framework that enhances decentralization, transparency, inclusion, competition, autonomy, participation, and resilience by democratizing access to the financial, socio-political, and human capital.
Decentralization is an ongoing process. Over the past year, many founders have relied heavily on the Foundation for success, as it often serves as a central hub for capital. However, the Foundation sees this as a centralization risk—one that could lead to a single point of failure.
How can the Foundation evolve to mitigate this risk and empower a more resilient, decentralized ecosystem?
L1 governance faces complex challenges, starting with a concentration of capital. Across the blockchain industry, platforms often adopt a corporate model, with foundations overseeing strategy, partnerships, marketing, technical support, funding, and more. This centralized model can be efficient in the early stages, providing direction and producing initial use cases.
However, as the ecosystem matures and independent, competitive participants emerge, this model reveals its limitations. Capital and resources—financial, social, human, and political— accumulate around the foundation, making it difficult for projects to succeed without its official
support. This concentration creates a gated environment, stifling the competition that’s crucial for a thriving ecosystem.
Additionally, operational inefficiencies arise as projects focus on navigating foundation processes instead of building products, leading to a lack of competitive innovation. Over time, this dependency risks undermining the original goal of ecosystem building, which requires decentralized, open support for incoming builders.
To address the challenges of centralized governance the answer lies in democratized access to capital and fostering competition within a community-centric framework. By implementing
open-source access to capital, projects earn resources transparently, rewarded for achieving key performance indicators (KPIs), which shift their focus to delivering exceptional products and results. In line with this, the Foundation is advancing a Community Model that redistributes resource allocation power back to the community. Under this approach, respected and proven community members are empowered to coordinate vision, goals, and strategies, collectively determining resource allocation in alignment with TON’s overall growth.
This model also upholds a principle of competition, supporting at least two projects in each category, encouraging projects to excel, and fueling a vibrant innovative ecosystem. Previously monopolized roles within the Foundation can now be filled by competitive, independent teams, enhancing efficiency and resilience. Thanks to TON’s explosive growth and the emergence of widely respected ecosystem leaders, the Community Model enables proactive, autonomous, and competitive participation in the network.
Since its inception in 2023 as a Swiss non-profit, the Foundation has tested this model with a few leading teams, who have excelled in their roles. This competitive and decentralized model accelerates growth, promotes autonomy, and empowers community-led development, providing a scalable framework and better results for all TON ecosystem participants.
With blockchain technology, the technical path to decentralization is clear. However, building a community capable of collective, coordinated action requires a more strategic approach. As the TON ecosystem grows, decentralizing at its core is essential to ensure resilience and long-term success.
Today, The Foundation is pleased to introduce Society DAO and its founding members; teams that have already been operating independently yet aligned with TON’s mission. Society DAO will become the organizing body for core ecosystem functions, its founding members comprise:
- TONCore:Core development, upgrading, and maintenance of the blockchain
- TONStudio:Developer experience
- TONSociety:Community operations
- WalletinTelegram:Payment adoption
The Foundation will support this DAO by reporting on its goals, KPIs, and strategies, ensuring compliance, and providing grants and other resources. Society DAO will grow to include proven and reputable community teams that can propose and execute a plan that supports the ecosystem’s objectives. It will welcome new contributors across roles such as marketing, app development, technology, stablecoin integration, DeFi, community growth, identity, and more.
This model will make the community’s brightest minds the key stakeholders in the growth and adoption of TON.
The TON ecosystem is committed to a transparent path for accomplishing its goals. Like our network’s dynamic sharding architecture, smaller, independent, and focused teams can create better, more scalable outcomes. Our public goals are revisited every six months, ensuring they remain relevant and aligned with our community’s vision.
- TONEcosystemGoals: Society DAO will publish The TON Ecosystem goals
- CommunityProposals: DAO members can propose relevant strategies, expected time-bound, and specific key results for achieving the ecosystem goals.
- WorkingGroupReviews: Relevant DAO members will evaluate proposals across specialized working groups.
- GrantProvided: After DAO approval, The Foundation funds the plans, with the community team assuming responsibility for progress and performance.
Today, Society DAO sets the following initial goals:
- PositionTONasTheGatewaytoReal-WorldCryptocurrencyUseCases.
- EstablishTONastheMostStableandScalableBlockchain.
- GrowtheDeveloperandUserCommunityinSuperAppmarkets.
By January 2025, Society DAO will publicly publish the key initiatives and expected key results for H1 2025. With a public view over Society DAO’s objectives, the community can contribute their opinions and help guide the DAO on how best to achieve the Ecosystem goals. Shortly, Society DAO will continue to decentralize by inviting proposals from proven and reputable community teams. Successful proposals that align with our ecosystem goals can join the DAO as members, becoming core contributors to The Open Network.
In 2025, Society DAO will enhance its transparency and community-driven focus by launching a public debate and voting platform. This platform will use TON Society onchain badges as a reputation marker, empowering active community members to have a voice in decision-making processes.
Over 3.6 million users have earned onchain badges on society.ton.org. This activity-driven reputation reflects your contribution and engagement within the ecosystem and will open access to contributing to debates and onchain votes.
Once the platform is live, DAO members will be supported by the real opinions of the active community. Together, we will cultivate an ecosystem of DAO members that self-regulates autonomously by collective insight and engagement.
To ensure a decentralized approach, Society DAO is establishing the Principle of Competition as a core guideline for allocating all public resources, including financial, social, human, political capital, and incentive programs. This principle requires that at least two competing projects be provided with the opportunity to fulfill the KPIs in the same category.
Competition creates decentralization. Competitive environments make it difficult for single players to dominate. When an ecosystem depends on multiple players, it becomes more resilient to failures. If one competitor encounters issues or fails, others can take their place without significant disruption. Competitive ecosystems lead to higher transparency, as entities are motivated to act in users’ best interests to maintain loyalty.
Moreover, competition encourages different approaches and ideas to address user needs. Each competitor brings unique strengths or innovations, leading to a richer ecosystem where multiple solutions coexist, reducing reliance on any single provider. Ultimately, this leads to a better user experience.
Society DAO positions the TON community on the right trajectory to become more competitive, decentralized, and resilient. Overall, it aims to create a robust and scalable organizational structure. As this model continues to be proven further, it will lead to an autonomous community capable of collective action.
With a growing community of over 20 million members, we are stronger than ever and have the potential to make cryptocurrency accessible to everyone. Together, we can drive meaningful change and put crypto in every pocket.
Disclaimer
In compliance with the Trust Project guidelines, this guest expert article presents the author’s perspective and may not necessarily reflect the views of BeInCrypto. BeInCrypto remains committed to transparent reporting and upholding the highest standards of journalism. Readers are advised to verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ripple (XRP) Price Hits 109% Monthly Gain as Indicators Weaken
Ripple (XRP) price has experienced a significant rally, rising 51.33% in the last seven days and an impressive 109.09% over the past month. This strong momentum has propelled XRP into a bullish phase, with key indicators like EMA lines supporting its upward trajectory.
However, signs of weakening momentum, such as a declining RSI and negative CMF, suggest that caution may be warranted. Whether XRP continues to push higher or faces a steep correction will depend on how the market reacts to these shifting dynamics.
XRP RSI Is Below The Overbought Zone
XRP’s RSI has dropped to 60 after nearly hitting 90 on November 16 and staying above 70 between November 15 and November 17.
This decline indicates that Ripple has moved out of the overbought zone, where intense buying pressure previously drove its price higher. The drop suggests that the market is cooling off, with traders potentially taking profits after the strong rally.
The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 60, XRP’s RSI reflects a still-positive momentum but shows a more balanced sentiment compared to the previous surge.
While the uptrend remains intact, the lower RSI could indicate a slower pace of gains, with the possibility of consolidation as the market stabilizes. If buying pressure returns, XRP price could extend its upward movement, but a further decline in RSI might signal a weakening bullish momentum.
Ripple CMF Is Now Negative After Staying Positive For 14 Days
XRP Chaikin Money Flow (CMF) is currently at -0.12, after showing positive levels between November 5 and November 19. That is also its lowest level since October 31. This shift into negative territory reflects increased selling pressure and a potential outflow of capital from the asset.
The transition from positive CMF values earlier this month signals a weakening in bullish momentum as more market participants reduce exposure to Ripple.
The CMF measures the volume and flow of money into or out of an asset, with positive values indicating capital inflow (bullish) and negative values showing capital outflow (bearish).
XRP’s CMF at -0.12 suggests that bearish sentiment is beginning to gain traction, potentially putting pressure on its price despite the recent uptrend. If the CMF remains negative or declines further, it could indicate sustained selling pressure, challenging Ripple’s ability to continue its upward movement.
Ripple Price Prediction: Biggest Price Since 2021?
XRP’s EMA lines currently display a bullish setup, with short-term lines positioned above the long-term lines and the price trading above all of them.
However, the narrowing distance between the price and some of these lines suggests a potential slowdown in bullish momentum. This could signal that the uptrend is weakening, leaving XRP price vulnerable to a shift in market sentiment.
If a downtrend emerges, as indicated by the weakening RSI and negative CMF, Ripple price could face significant pressure and potentially drop to its support at $0.49, representing a substantial 56% correction.
On the other hand, if the uptrend regains strength, XRP could climb to test the $1.27 level and potentially break through to $1.30, which would mark its highest price since May 2021.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Trump Media Files Trademark for Crypto Platform TruthFi
Trump Media & Technology Group is exploring the development of a crypto payment platform, as revealed by a recent trademark filing.
The application, submitted by Donald Trump’s social media company on Monday, outlines plans for a service named TruthFi. The proposed platform aims to offer crypto payments, financial custody, and digital asset trading.
Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, up by nearly 75% this year.
However, details about TruthFi remain scarce, including its timeline or operational specifics. This initiative suggests an effort by Trump Media to expand its business model beyond Truth Social.
The social media platform was established back in 2022, after Trump was banned from Facebook and X (formerly Twitter).
Nevertheless, launching a large-scale cryptocurrency platform could require Trump Media to acquire additional resources or partner with an established firm. This is because the firm currently has a small workforce of less than 40 employees.
“The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer: Digital wallets, Cryptocurrency payment processing services, and A digital asset trading platform,” US Trademark Attorney Josh Gerben wrote on X (formerly Twitter).
As reported by BeInCrypto earlier, Trump Media is also in discussions to purchase the b2b crypto trading platform Bakkt. Shares in Bakkt surged by nearly 140% since the news earlier this week.
Meanwhile, the President-elect’s crypto plans seem to be in full swing even before he takes office in January. He is also reportedly considering the first-ever crypto advisor role for the White House, and interviewing several potential candidates.
Earlier today, the current SEC chair Gary Gensler announced his resignation before Trump’s term begins. Gensler’s resignation boosted the crypto market, as it signals a major change in the SEC’s regulatory stance.
Notably, XRP surged 7% to its highest value in three years. Bitcoin also neared $99,000, as the overall crypto market cap reached $3.4 trillion.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Banana Gun Rises After Justin Sun’s $6.2 Million Art Purchase
Justin Sun, founder of TRON and Poloniex CEO, has purchased the viral art piece Comedian—a banana duct-taped to a wall—for $6.2 million at Sotheby’s.
Following the purchase, Sun announced on X (formerly Twitter) that he plans to eat the artwork. This has ignited a frenzy of memes, commentary, and market reactions, even causing the crypto token Banana Gun to spike in value.
Crypto Reacts: Banana Gun on the Rise
Maurizio Cattelan’s Comedian gained international fame in 2019 when it was first displayed at Art Basel Miami. Its simplicity and absurdity—a banana taped to a wall—sparked debates about the nature of art. The so-called artwork became viral when performance artist David Datuna ate it in a stunt dubbed Hungry Artist.
Sun’s pledge to eat the $6.2 million fruit has also drawn parallels, adding another layer of humor to the piece’s history. The Tron founder even said he’s willing to donate the banana to Elon Musk and send it to Mars.
Meanwhile, several users even recreated their own version of Comedian and shared it on social media. One fan followed up by taping bananas around the Massachusetts Institute of Technology (MIT) campus, encouraging others to “tape all over the world” and start a movement.
What they are campaigning for, precisely, remains to be seen.
“In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture. Stay tuned,” Sun said on X.
The ripple effects of Sun’s purchase eventually trickled beyond the confines of art and humor and into crypto markets. The token Banana Gun, which shares its name with the theme, surged nearly 16% following the news. Traders and enthusiasts, ever attuned to cultural moments, appear to have seized the chance to capitalize on the buzz.
Sun’s acquisition and the banana’s virality bring to mind another recent development in the art-crypto nexus. Earlier this week, Ethereum co-founder Vitalik Buterin allegedly minted 400 Patron NFTs. This development sparked hopes of a resurgence for the NFT market.
This aged well…. $BANANA is an insane project. For me, this is in the same league as $ZIG. Fundamentals are truly insane. No matter which narrative will cook next, $BANANA will profit from it,” said one trader on X.
The combination of Sun’s high-profile purchase and the market’s reaction to Banana Gun demonstrates how art, humor, and technology continue to blur boundaries. Whether Sun’s banana-eating spectacle will leave a lasting impact or peel away (pun intended) into meme history, one thing is certain—the intersection of crypto and culture remains as unexpected as ever.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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