The Open Network Foundation (TON Foundation) has officially launched as a Swiss non-profit organization. This move is significant as Switzerland is known for its clear and precise legal framework surrounding blockchain and cryptocurrency, making it an ideal location for the TON Foundation to support the growth of The Open Network (TON).
The TON Foundation will operate under Swiss regulations, emphasizing strong governance and transparency. Steve Yun, President of TON Foundation, expressed that this launch marks the next chapter for the Toncoin community. The foundation plans to pursue its mission by establishing enterprise partnerships and integrations to drive developer acquisition, user participation, and network growth.
Alongside the launch, the TON Foundation will provide detailed transparency reports, offering insights into token issuance, partnership allocation, development, community incentives, and the breakdown of assets used for operational expenses and ecosystem growth. The foundation also plans to host an annual event called Gateway, aiming to engage with the TON community directly and foster productive discussions and collaborative initiatives.
With the launch of the TON Foundation as a Swiss non-profit organization, the foundation is poised to make significant strides in supporting the TON ecosystem and driving its long-term vision.
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