Tokamak DAO Governance Launched Paving the Way for a Decentralized Future
The Tokamak Network has made major strides within a very short duration since its inception. The platform that developed the first Turing complete plasma chain for the Ethereum blockchain has moved fast to compound its results into more tangible achievements.
Tokamak successfully rebranded to an on-demand layer 2 platforms that aggregate together various Ethereum scalability and extendability solutions. By bringing together all these solutions under one roof, the platform allows developers easy access to tools for building their Ethereum-based applications. Upcoming projects no longer need to create decentralized applications (dApps) from scratch. Instead, they can access and deploy the already existing tools, libraries, and tons of code hosted on the Tokamak protocol.
Moreover, Tokamak allows such Dapps to run on their own plasma chain, with similar functionalities to the Ethereum main chain. As such, they are able to decongest the main chain by providing the much-needed scalability and extendability that new applications benefit from.
By becoming an aggregator of layer two scaling solutions, the Tokamak Network has opened the door to other projects working towards the same goal of increasing the usability of Ethereum, thus boosting its potential for mass adoption. Developers and upcoming projects can deploy their preferred layer 2 solutions without the hassle of switching between multiple protocols.
The on-demand platform is also greatly opening up opportunities for collaboration between different players working on scaling solutions. The Tokamak encourages teams to partner and share resources so as to build synergies rather than compete. This way, they are able to accelerate the development process and deliver solutions faster and in a cheaper manner.
Now, upon their successful sale of their TON cryptocurrency, the team behind Tokamak is opening up the platform to the public. They are placing the future of the protocol in the hands of the community by creating the Tokamak DAO that will oversee all operations moving forward.
Tokamak DAO Beta Launched
The Tokamak Network DAO (decentralized autonomous organizations) beta was launched on March 15, providing an opportunity for the public to participate in the ecosystem’s decision-making. According to their announcement post, TON token holders will be able to exert their influence on most of the platform’s future operations either directly or indirectly through the Tokamak DAO. It allows them to decide on various issues, whether economic-related or technical. More specifically, the holders will have a say on common issues such as the TON’s inflation rate, issuance procedure, burning of tokens, as well as advanced matters like the staking conditions and protocol upgrades.
The Tokamak DAO launch is a timely introduction for the protocol as calls for increasing decentralization and representation are increasing in the crypto space. The move is in line with the spirit of the blockchain movement that is continually growing with the rise of DeFi and continuous development in the space. The DAO effectively decentralizes the decision-making procedure and allows the network to operate autonomously without any influence from its creators or any central authority.
TON Value Rising Steadily
The Tokamak Network’s recent developments have been reflected in the market, with the TON price action remaining largely positive lately. The project has made substantial organic traction over the past few weeks, evidenced by the steady growth of its community recently.
Particularly, the news about the DAO beta launch was received positively, causing an upward tick in the TON’s price. Overall, the community sentiment remains positive, indicating that the TON may be currently undervalued, with its price hovering just above $8.
Since the start of March, the token’s price has grown over 60% since the start of March, rising from $5.2 to $8.4 at the time of writing. The digital currency is also having major traction in the market, with a trading volume of $25.9 million over the past 24 hours. This price will likely continue on its upward trajectory as the Tokamak community continues to grow and the pace of development accelerates paving the way for more decentralized solutions on the platform.
Moving forward, the Tokamak community will have a bigger say on most future developments. As such, their decisions will have a huge bearing on the TON’s price and the overall value of the protocol. The launch of the DAO now paves the way for a new wave of creation, with the tools now easily accessible and at the general public’s disposal. The excitement is already in the air as the Tokamak community readies itself for the next chapter of this thrilling journey.