!!!The launch of the main Free TON network based on telegram developments took place

!!!The launch of the main Free TON network based on telegram developments took place


TON developers, major PoS validators, and the community launched the main Free TON network with the native TON Crystal (TON) token. The Protocol, as you know, was developed by Nikolai Durov and the Telegram team, who failed to launch the network due to legal proceedings with the US authorities.


Among the launch participants are TON Labs, P2P.org, Kuna exchange, Everstake, Chorus, Bitscale Capital, and others. The corresponding Declaration was signed by more than 170 companies and individuals.

What does the Declaration say?


As stated in the Declaration on the project's website, Free TON will be launched in several stages to ensure smooth development of the Protocol with the participation of the original developers, including when they are allowed, and mass adoption.

All signatories agreed to ensure maximum decentralization at the management, SOFTWARE development, validation, and user interface levels. Us residents are not allowed to sign the Declaration.

The minimum conditions for decentralisation are specified in the Declaration:

all coins are distributed among as many users as possible, who can participate in betting;
several independent validators participate in consensus building;
13 or more steaks validinput mastercan and workcan;
one validator does not have more than ⅓ all coins.
How will TON coins be distributed?
Coins from the Genesis block will be distributed among several so-called contract givers (Givers), who will not participate in betting or voting. Their only function is automatic distribution.

Referral Giver contracts will receive 85% of all coins. Their task is to distribute coins to the first users and partners who will promote Free TON among their user base. If the partner's contract has more than 30% of all coins, then they can't get more from Giver.
The Validator Giver contract will receive 5% of all coins and distribute them among the validators.
The Developer Giver contract will receive 10% of all coins and will Finance the development. Of these, 5% will be awarded to TON Labs, the developer of TON OS.
All decisions on the distribution of coins through donor contracts will be made by voting through the Soft Majority Voting (SMV) mechanism by TON holders.

For example, if 10% of the holders vote " Yes "and 0% vote" no", the SMV will consider the decision approved, since all those who showed interest and responsibility have spoken. If everyone votes, the traditional 50% +1 principle will work.8bdbf2c630f92854cb71ee25d104d805d30e0f0e1a507b63d176cd75abdd27e2.png


SMV voting scenarios

What launch stages does the Declaration provide for?


1. In the first stage, codenamed "Mad bull", developers will be able to make changes to the network configuration parameters, and SMV contracts will be calculated manually. At this stage, the code implements a decentralisation bomb-a timer that counts down to the moment when developers lose the ability to make changes to the configuration.

2. They will also write decentralized pool contracts (DePools) that will allow each user to participate in network management regardless of the size of the stake.
The second stage under the code name "Fighting fish" will start at the time of the bombs decentralization.Control over network configuration parameters will be fully transferred to the hands of validators.


3. At the third stage, under the code name "Fight club", the network will already have a lot of validators and decentralized pools, and TON will reach decentralization. Voting via SVM will be automated, and gift contracts will constantly distribute coins to new users.


JamesBond007
JamesBond007

Extremely versatile personality


Lol-blog is a good mood
Lol-blog is a good mood

Positive for the whole day

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.