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TON Foundation’s Latest Power Play: Decentralization in Name Only as They Try to Own the Matrix (Again)

BlockchainCrypto NewsDeFi Doug Martinez November 2, 2024

A stylized illustration depicting four interconnected nodes with gears turning in opposite directions; one node represents 'TON Core', another 'Wallet on Telegram' as a self-custody wallet, while the third is TON Society's logo. The fourth node symbolizes decentralization and community power. A faint matrix-like structure looms in the background.

The latest attempt at ‘decentralization’ from the TON Foundation is just a fancy way of saying they’re trying to get more control over their own mess, folks! They’ve launched this new Society DAO governance model that’s basically just a rebranding of the same old centralization risks we all know and love. Because what says ‘decentralized’ like four founding members including TON Core, a Telegram wallet, and some other shady characters? It smells like a bad batch of Dogecoin to me.

Source: cointelegraph

TON Foundation launches new Society DAO governance model
https://cointelegraph.com/news/ton-foundation-new-governance-model-society-dao
Telegram-linked blockchain platform The Open Network (TON) is transforming on its path to decentralization, with the TON Foundation officially introducing a new governance model called Society DAO. The TON Foundation announced the launch of its governance framework and decentralized autonomous organization (DAO), Society DAO, on Nov. 1. The Society DAO includes four founding members: TON Core, TON Society, Wallet in Telegram and the newly launched developer collective, TON Studio. The […]

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Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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