TON Foundation Founded in Switzerland as a Non-Profit Organization
The Open Network Foundation (TON Foundation), the non-profit association supporting the growth of The Open Network (TON), announces its official launch as a Swiss non-profit organization. Switzerland is known for its rich history of technological innovations across multiple industries, including its clear and precise legal framework surrounding blockchain and cryptocurrency. The country’s regulatory clarity is vital to the long-term planning, strategy, and execution of TON Foundation’s mission in supporting the TON ecosystem.
“Switzerland offers a dual advantage that strengthens both the TON ecosystem and our global community of TON enthusiasts,” said Steve Yun, President of TON Foundation. “Switzerland’s superior reputation for world-class regulatory standards provides unparalleled credibility for TON Foundation and opens doors for strategic partnerships and enterprise-level integrations to strengthen The Open Network. Our community will find this move achieves greater transparency and governance for our increasingly dynamic network. More than a milestone, this is a gateway for the TON ecosystem and community to see sustainable, long-term growth.”
The launch of TON Foundation’s Swiss organization coincides with a series of upcoming initiatives, including a carefully planned series of enterprise partnerships and integrations to incentivize developer acquisition, user participation, and network growth. By Q4 of 2023, a publicly available roadmap on the newly launched www.ton.foundation website will guide the Foundation’s endeavors to educate the public, empower development, and exercise ecosystem expansion on TON.
With the launch, the Foundation commits to providing detailed transparency reports that comprehensively outline the tokenomics of Toncoin and the historical distribution of tokens. These reports will offer insights into token issuance, partnership allocation, development, community incentives, and the breakdown of assets used for operational expenses and ecosystem growth.
As part of its ongoing commitment to openness and clarity, TON Foundation will host an annual event entitled Gateway to proactively listen to and engage with the TON community directly. TON Foundation invites its community and partners to join them in person at Gateway to engage in productive discussions and collaborative initiatives across privacy, ownership, finance, gaming, collectibles, and tons more.
About TON Foundation
The Open Network (TON) is putting crypto in every pocket. Building a Web3 ecosystem within Telegram Messenger makes it convenient for billions to own their digital identity, data, and assets. TON Foundation is a non-profit organization founded in Switzerland committed to supporting TON. TON Foundation is 100% funded by the community and acting for the community to achieve The Open Network’s mission.
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