Merger Details: A Community-Driven Shift
In a pivotal move for decentralized governance, Free TON and Dune Network are gearing up for a historic merger, approved recently through a community voting mechanism. This partnership is not just pie-in-the-sky thinking; it’s about harnessing community power to bolster blockchain technology.
The Approval Process: Red Tape Be Gone
An amended partnership proposal from Dune was laid out in January and swiftly approved last Tuesday. This green light signifies a significant step towards merging the two blockchain communities, signaling not only strategic growth but a collective commitment to promote decentralized self-governance.
Community Voices: Insight from Leaders
“Our vision is to create the blockchain ecosystem’s first true decentralized Merger and Acquisition.” – Ben Sunderland, Dune Network Community Manager
According to Sunderland, this merger presents a basket of goodies for Free TON: it brings aboard an experienced community, facilitates the transfer of social media followers, and showcases roughly 30,000 accounts and smart contracts ready for action. And let’s not forget the cherry on top – access to Origin Labs, a research arm set to elevate Free TON’s development capabilities.
The Big Picture: Benefits All Around
Fabrice Le Fessant, President of Dune Network and CEO of Origin Labs, shared enthusiasm over the collaboration, hinting at a synergistic relationship between the tech stacks of both networks. He emphasizes, “With this merge, we’re all together contributing to the acceleration of Free TON’s technical leadership in the market.”
Financial Implications: Crystal Clear Currency Swaps
Under the merger proposal, Free TON pledges a certain amount of TON Crystal, its native asset, to facilitate the swap. The Dune Network community is left at a crossroads, deciding whether to trade their native DUN tokens for TON Crystal. The merger is set to unfold over approximately six months, involving crucial validation and the development of swapping infrastructure – all for a cost of 9 million TON Crystal, equating to Dune’s market cap.
Market Response: A Crypto Roller Coaster
As with any good crypto drama, excitement surged around the merger announcement, pushing both TON Crystal and DUN to steep upward climbs in value, with one TON Crystal priced at around $0.40 compared to DUN’s humble $0.02. Clearly, this merger isn’t just hot air; the market is reacting with genuine interest.
The Road Ahead: What’s Next for Free TON?
With Free TON originally launched in May 2020 using Telegram’s codebase, the project continues to innovate, having launched its mainnet a few months later after achieving ‘sufficient decentralization.’ Now, as they embark on this merger journey, one thing is clear: the decentralized future is gaining momentum, and it’s all thanks to community-driven decisions.
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