On May 7, 2020, Free TON blockchain platform officially started working. It was launched in videoconference mode by the developers and potential users of TON – members of the Free TON Community.
You can become part of the Free TON community by signing the Declaration on Decentralization. At the start, more than a thousand participants, both companies and individuals, agreed to ensure maximum decentralization of the project. By the way, everyone except US citizens can sign the Declaration. We explain why.
Previously, the Durov brothers launched the blockchain as a test network for the Telegram Open Network (TON). But the U.S. Securities and Exchange Commission (SEC) imposed a ban, thereby pushing them to an extraordinary action – making the source code freely available. Despite the fact that the community has not yet implemented everything that the Durovs planned, the launch of the platform is already a success!
In accordance with the spirit of freedom of the Declaration, the network’s cryptocurrency – TON Crystal will be distributed among the maximum possible number of network users.
The community will distribute all 5 billion tokens for free !!!
85% of all tokens will receive Referral Giver contracts for the subsequent distribution of TON Crystal between the first users and partners who promote Free TON. Brilliant move!
10% will go to developers, including 5% for TON Labs.
5% are intended for validators confirming transactions. TON users will distribute coins by voting through the Soft Majority Voting (SMV) mechanism. It works in this way: if only 10% of holders vote “for”, and no one speaks against, then SMV approves this decision, since all those interested have taken part. If everyone votes, then everything is clear. Convenient and efficient.
Let’s go back to the launch issue. As stated in the Declaration, this will take place in three stages. Thus, they are going to guarantee the gradual development of the protocol and to go into the world.
Stage 1 “Raging Bull”. Developers will be able to make changes to the network configuration until the timer goes off, the so-called “decentralization bomb”, which is hardcoded. In addition, they will write contracts for decentralized pools (DePools), allowing each user to participate in the network management.
Stage 2 “Rumble Fish”. Starts as soon as the “decentralization bomb” goes off. From this moment on, control over the configuration parameters of the network will be completely transferred to the validators.
Stage 3 “Fight Club”. The final stage at which TON will achieve its goal of decentralization. SVM voting will become automated and Referral Giver contracts will continually distribute coins to new users.