Governance 2.0: voting, right on the stake!

Governance 2.0: voting, right on the stake!

Despite the fact that Free TON is decentralized from a technical point of view, governance in the blockchain is still centralized. Representatives of 23 companies that launched the network voted for the allocation of tokens from the givers. This paradigm is being replaced by Governance 2.0 - a blockchain management system in which every participant who has network tokens can vote.

According to the roadmap, the voting system will be ready in November 2021. The feature of the system is that in order to vote you do not need to withdraw coins from the DePool and stop receiving staking income.

 

How is it implemented?

In fact, voting won’t be made with TON Crystals, but with special voting tokens. Those people wishing to vote will leave their Crystals as a collateral and receive special tokens. It is possible to stake and vote at the same time thanks to these separate voting tokens. The DePool contract has a register that records the number of coins and their owner. Thanks to this registry, when contacting DePool, the owner will receive voting tokens secured by TON Crystals located in DePool.

Governance 2.0 is an important element of decentralization. If the decision turns out to be wrong from the point of view of the community, then we only can blame ourselves for this, because everyone who voted (and did not vote) is responsible for the final result.

You can get even more information about Free TON in our Telegram channel.

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