TON Foundation Launches As a Swiss Nonprofit to Boost Toncoin Ecosystem

The Open Network Foundation (TON Foundation) has officially launched as a nonprofit organization in Switzerland. As an entity, TON Foundation has been supporting the growth of The Open Network (TON) from its inception.

With its newest designation as a Swiss Nonprofit, TON Foundation is now better positioned to improve the Toncoin ecosystem. Considering that it is 100% funded by the community, the Foundation will remain fully committed to achieving TON’s mission. This could have a meaningful impact on Toncoin price in the near future.

The unique benefits of becoming a Swiss Nonprofit

There are concrete reasons to be excited that TON Foundation decided to launch in Switzerland. The country is well-known for its rich history of technological innovations across multiple industries. It is also reputed as a financial powerhouse, with a supportive regulatory framework.

Switzerland has also emerged as a crypto-friendly nation. It has enacted a clearly defined regulatory framework for blockchain technology and cryptocurrency. Such regulatory clarity is crucial for the long-term planning, strategy, and execution of TON’s mission, as well as the sustainability of the Toncoin ecosystem.

The next chapter of the Toncoin ecosystem

The launch of the TON Foundation marks the beginning of a new chapter for the Toncoin ecosystem. It coincides with a number of upcoming initiatives, including a well-planned series of enterprise partnerships and integrations.

With the planned moves, TON aims to incentivize developer acquisition and user participation. Ultimately, these initiatives will result in significant network growth. The publicly available roadmap for Q4 2023 on the newly launched TON Foundation Website will guide the endeavors to educate the public, foster ecosystem development, and achieve ecosystem expansion.

Improving Transparency

The newly launched TON Foundation has also renewed its commitment to transparency. Henceforth, it will publish transparency reports with details on Toncoin tokenomics and the historical distribution of tokens. It will also offer insights into token issuance, partnership allocation, community incentives, and development, as well as a detailed breakdown of assets committed to operational expenses and ecosystem expansion.

Speaking on the launch and what lies ahead, the president of TON Foundation, Steve Yun, said:

“This marks the next chapter for the Toncoin community. At the service of our community, TON Foundation will pursue strong governance and transparency under the guidance of Swiss regulations.”

Wrapping Up

By launching as a Switzerland nonprofit organization, the TON Foundation has taken another giant step towards making The Open Network a formidable force in the crypto universe. It has also reiterated its commitment to transparency. As part of this commitment, it will host an annual event termed Gateway.

The purpose of the annual event is to proactively listen to the TON community and engage meaningfully. The community and partners are invited to participate in this proactive event aimed at reaching a consensus on initiatives across ownership, privacy, finance, gaming, collectables and more. These newest developments are already having impacts on Toncoin price forecasts.