ChainCatcher news, according to the official blog, the TON Foundation has announced the launch of a new governance model called Society DAO, aimed at promoting decentralization and enhancing its growing ecosystem. Society DAO will serve as the organizational body for core ecosystem functions, with founding members including: TON Core (core development, upgrades, and maintenance of the blockchain), TON Studio (developer experience), TON Society (community operations), and the wallet in Telegram (payment method).The operational model of Society DAO is as follows: Society DAO will publish the goals of the TON ecosystem; DAO members can propose relevant strategies, expected timelines, and specific key outcomes to achieve these ecosystem goals; relevant DAO members will evaluate proposals from various specialized working groups; once approved by the DAO, the foundation will provide funding for the plans, and the community team will be responsible for progress and performance.The initial goals of Society DAO include: positioning TON as a gateway for real-world cryptocurrency use cases; making TON the most stable and scalable blockchain; and developing a community of developers and users in the super app market.

ChainCatcher news, John, the head of the Ton Foundation for the Asia-Pacific region, confirmed his attendance at the "DeInsight 2024" annual summit to be held on November 11 in Bangkok during Devcon.The "DeInsight 2024" annual summit will take place on November 11 at Hotel Nikko Bangkok in Bangkok. This summit is co-hosted by ChainCatcher and RootData, with Soso Value as a co-organizer. The conference aims to bring together elites in the Web3 field to exchange insights on the industry, and it is expected to attract over 1,000 industry elites.In addition, the conference will unveil the RootData List 2024, which will objectively evaluate influential individuals or organizations in the industry from a data perspective.

ChainCatcher news, at the opening ceremony of the GameOnTON Global Game Hackathon held on September 19 in Singapore, the founder and CEO of Gate.io, Han Lin, presented detailed data on the TON ecosystem in his keynote speech titled "Gateway to TON Ecosystem," in collaboration with the modular payment protocol AEON, the TON Foundation, Nomad Capital, and TOP. According to forecasts, by 2028, Telegram's users will reach 1.5 billion, while the TON Foundation expects the monthly active TON users to reach 500 million within five years, with gaming being the segment with the highest proportion and the most potential user growth in the TON ecosystem.Han Lin pointed out that although the number of active TON addresses is continuously increasing, the TVL and DEX trading volume remain at low levels, and there is a shortage of developers. He emphasized three major pain points faced by the TON ecosystem: the need for lower token distribution and transfers, lower transaction fees, and cross-chain transactions for stablecoins. To address this, Gate.io offers pre-market and pre-mint features, as well as high-performance spot trading and stablecoin cross-chain transfer solutions.

ChainCatcher news, at the opening ceremony of the GameOn TON Global Game Hackathon held in Singapore on September 19, the modular payment protocol AEON and the TON Foundation, Nomad Capital, and TOP, renowned venture capitalist and founder of Draper Associates, Tim Draper delivered a speech. He highly praised the TON ecosystem, considering it an excellent platform that offers great possibilities for developers.Tim Draper encouraged global developers to actively participate in this hackathon, seizing the opportunity to develop disruptive applications on TON. He emphasized that TON embodies the spirit of fighting for freedom and hopes that every entrepreneur can realize their dreams on this platform. Tim Draper called on developers to actively submit their business plans to jointly promote the prosperous development of the TON ecosystem.

ChainCatcher news, at the opening ceremony of the GameOn TON Global Game Hackathon held in Singapore on September 19, the Nomad Capital Venture partner Siddharth emphasized that this is a golden period for developing mature applications and games. He stated that Nomad Capital aims to provide comprehensive support to builders, leveraging its rich experience in operations, market-making background, liquidity, and token economics.Siddharth pointed out that the TON ecosystem has a large user base and tremendous development potential. Especially in the current context of industry downturn, providing users with a high-quality product experience is particularly important. He believes that this GameOn TON hackathon will bring forth many outstanding developers to jointly promote the prosperous development of the TON ecosystem.

ChainCatcher news, TON Foundation Chairman Steve Yun attended the opening ceremony of the GameOn TON Global Game Hackathon held in Singapore on September 19, co-hosted by the modular payment protocol AEON, TON Foundation, TOP, and Nomad Capital. In his speech, Steve reviewed the development of the TON ecosystem since 2017 and highly praised TON's recent performance in the market.Steve expressed gratitude to the hackathon organizer AEON, while announcing that the TON Foundation would provide support for this hackathon and encouraged developers to actively participate and seize development opportunities within the TON ecosystem. Steve emphasized that now is the best time for developers to build applications on the TON ecosystem.

ChainCatcher news, according to Cointelegraph, the TON Foundation has announced a partnership with the decentralized exchange (DEX) Curve Finance.This collaboration will "incubate a new stablecoin swap project based on TON" to enhance user experience and stablecoin trading on the TON blockchain. The TON-based swap project will utilize Curve's CFMM technology, which is known for minimizing price impacts on stablecoin and equivalent asset swaps.

ChainCatcher message, the TON Foundation announced in a Telegram channel that the sixth season of The Open League has officially begun, with a total prize pool worth 1.2 million USD in TON. The deadline for the event is October 10. Users can mint badges and complete tasks to participate and win generous rewards.

ChainCatcher news, the TON Foundation announced an additional $24 million worth of TON rewards to the DeFi incentive program, bringing the total to 5 million TON, which increases the total value of the program to over $75 million. The additional 5 million TON is specifically allocated to reward liquidity providers of the DeFi protocols STON.fi and DeDust, as well as the liquid staking protocols Tonstakers and Bemo on TON.

ChainCatcher message, TON Foundation member Justin stated on his social platform that the TON network paralysis may be caused by DOGS triggering network overload, and garbage collection has overloaded many validators to the point where they lose consensus.In addition, the validating nodes will restart at 12:00 PM Beijing time.

ChainCatcher news, a new venture capital (VC) firm The Open Network Ventures has officially launched a $40 million fund to support early cryptocurrency projects in the TON ecosystem. This new venture capital company was founded by former senior members of the TON Foundation, aiming to connect investors with builders to promote the development and innovation of TON.TON Ventures will focus on leveraging consumer applications on the Telegram social platform, utilizing Telegram's social graph and the tools and infrastructure of Telegram Mini Apps to build applications with mass appeal.

ChainCatcher news, according to the official announcement, the TON Foundation has partnered with Mocaverse to launch a $20 million plan to support the TON ecosystem.The TON Foundation, Mocaverse, and the MOCA Foundation have agreed to establish a $20 million reserve of MOCA coins and Toncoin to incentivize developers and users to adopt the TON ecosystem through joint incentive measures such as open alliances, hackathons, and accelerator programs. These funds will leverage their combined ecosystem and stimulate cross-functional development and user activity.The TON Foundation and the MOCA Foundation will utilize listing and token resources to facilitate user interactions within their respective ecosystems. Through this collaboration, Animoca Brands and Mocaverse will actively promote and integrate the TON blockchain, providing assistance to partners developing gaming projects.

ChainCatcher news, the TON Foundation plans to launch a Bitcoin cross-chain bridge TON Teleport BTC. It is reported that this is a trustless bridging service aimed at facilitating secure Bitcoin transfers between the Telegram-linked network. The TON Foundation stated that this bridging service is designed to allow Bitcoin holders to participate in decentralized finance (DeFi) activities on TON while keeping their original assets secure.

ChainCatcher news, the cross-chain engine and liquidity protocol Symbiosis has received funding support from the TON Foundation, with the specific amount not disclosed. The TON Foundation will assist in enhancing its appeal in the primary market.It is reported that the ZKsync token ZK is now listed on Symbiosis, enabling users to perform cross-chain swaps across more than 30 blockchain networks. Its WebApp will add support for more blockchain networks, and new funds will be used to continue advancing the development of its cross-chain liquidity protocol.