Decentralized layer-1 blockchain The Open Network has released its governance platform to the public, fueling a surge in Toncoin (TON) transaction activity.
TON, The Open Network’s native token that can be used for governance voting, is trading at $2.35 – up 1.5% in the past 24 hours, with daily trading volume surging 98% to $40 million.
Source: Coinecko
The governance platform, called Ton.vote, was developed with a layer 3 blockchain infrastructure provided by Orbs. Integration with Orbs ensures forgery-proof voting on Ton.vote.
Hodler Toncoin will now be able to vote on decisions for all projects on the network, although only three decentralized exchanges currently exist with a total value locked (TVL) of $7 million. a la, according to Defillama.
The Open Network was created from the instant messaging app Telegram, with community developers transforming the source code to create an independent layer 1 blockchain.
The first governance proposal discusses freezing tokens held by Genesis mining wallets that have been dormant for four years. More than 1.7 million TON was used to vote, and 91.75% were in favor.
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According to Coindesk
