Free TON is a community driven blockchain network with a focus on decentralized governance based on the open-source TON project which was previously developed by Telegram. Dune Network is a platform for distributed applications over a blockchain, focused on safety and security. The two groups will now begin to merge following a successful vote for a decentralized M&A proposal.
First Decentralized Merger and Acquisition
More than 50% of participating community members have voted in favor of a merger proposal between Free TON and Dune Network. This is important for both groups as the Dune project will effectively be absorbed into Free TON, but it’s also a milestone for the whole blockchain ecosystem as the first truly decentralized M&A. The cost of the operation is estimated at 9 million TON crystals, equivalent to the market cap of Dune Network, and it will be funded through contests on Free Ton.
The acquisition further grows the large Free TON community by adding an enthusiastic group of more 2000 Dune Network supporters, and expands its brand reach with a transfer of all the social media accounts and 16 Ambassadors across 6 countries that Dune has. On the technical side, Dune also brings with it around 30k accounts and smart contracts, a network with over 50k daily transactions and a community of more than 90 validators, including 8 companies that can become validators. The deal will also give Free TON access to all the exchanges where Dune is traded, familiarity with the top tier investors that backed Dune, and a new lab that will contribute to its development (see below).
As for the benefits for the acquired project, Ben Sunderland, Dune Network’s community manager explained: “Thanks to its advanced technical stack, fully decentralised nature, unique partnership model and growing community, Free TON has established itself as a strong contender for global adoption. For us, this is an opportunity to work on, and aid in the…