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 itâ€™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 Networkâ€™s community manager explained: â€œThanks 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 advancement of, one the best technical infrastructures available, and who also share our morals and philosophies regarding decentralisation.â€
Dune Network Acquisition Adds Lab With Top Researchers to Free TON Development
Dune Network is a platform for distributed applications over a blockchain focused on safety and security. It offers multiple programming languages for smart contracts, accessibility, access control features, and industrial applications, as well as provides an entire ecosystem of dApps, features and tools. In addition, it offers business and technical support to help entrepreneurs innovate and scale up via the network whilst facilitating the integration of established companies onto its platform.
Since the creation of Dune Network in July 2019, it has been supported by investors like Xavier Niel (Founder of Free/Illiad, 42school, Station F), Sean Rad (founder of Tinder), Antoine and Alexis (founder of Zenly), Alexandre (Founder of Voodoo), Yan Hascoet (Founder of Kapten (Uber competitor, sold for +$200m), Marc Simoncini (founder of Meetic, sold to Match for +$300m), Oussama Amar (founder of The Family), Jean David Blanc (Founder of AlloCineÌ), Georges Mohammed Cherif (Founder of Buzzman), and more.
Origin Labs, the lab behind many developments on Dune Network, will now focus all new developments on Free TON going forward. It is one the most productive research and development groups in the blockchain space. Origin Labs has a team of 9 Ph.D. research engineers trained in top technological universities of France that are widely recognized as experts in formal verification, tooling design, and blockchain technology. Over the last decade they have been involved in projects with established household brand names, such as Jane Street, Samsung, Bloomberg, Facebook, as well as having developed leading tools for OCaml, such as opam.
About Free TON
Free TON is a community powered movement for a free and open decentralised internet. Itâ€™s a next-gen blockchain technology that belongs to no one and to everyone at the same time. The network does not have an owner or centralized management that decides what should be done or when, nor what tools or projects should run on it. Instead, Free TON practices decentralized governance principles empowering the community to engage, contribute and make decisions.
Technology-wise Free TON is the first multi-threaded, multi-sharded, highly scalable blockchain with low latency. It has an advanced Proof-of-Stake consensus and a versatile smart contract platform supporting several high level computer languages such as Solidity, C and C++. Free TON promotes a unique concept of End-to-End Decentralization which essentially moves DNS servers and storage on-chain, i.e., a decentralized backend. When this future development will be completed all data and privacy will be absolute.
To learn how Free TON was born out of the abandonment of the the Telegram Open Network by the private messaging giant Telegram due to the U.S. SEC, read Free TON, From an Abandoned Project to the Frontier of PoS Networks.
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