Free TON to merge with Dune Network in decentralized M&A deal
Costless TON to merge with Dune Network in decentralized M&A bargain
The Complimentary TON–Dune Network merger represents one of the first decentralized M&A deals.
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Free TON, a community-driven blockchain promoting decentralized self-governance and liberty of oral communication, has caused Dune Network through a customs merger mechanism that was recently approved by both camps.
An amended Dune community partnership proposal filed in January was canonical on Tuesday, bringing the Complimentary TON merger one step closer to fruition. Dune Network, which is a decentralized platform for distributed applications, said the merger volition strengthen both communities and support the global adoption of decentralized governance.
Ben Sunderland, Dune Network'south community managing director, said:
"Our vision is to create the blockchain ecosystem's first true decentralised Merger and Conquering. With our shared values, we feel a merge of the Dune Network community into the Free TON community will yield meaning benefits for both parties, and the wider blockchain industry."
According to Sunderland, the merger provides Complimentary TON with several benefits, including an experienced community, a transfer of all social media to Complimentary TON accounts, roughly 30,000 accounts and smart contracts, and admission to Origin Labs, a new enquiry arm that can contribute to Costless TON's development.
Fabrice Le Fessant, president of Dune Network and CEO of Origin Labs, told Cointelegraph:
"The merge between Dune and Free TON is a wonderful event for both our communities. I already run into many of our members exchanging, and I am looking frontward to more, every bit both techs are very complementary. With this merge, we're all together contributing to the acceleration of the Free TON technical leadership in the marketplace."
Nether the proposal, Gratuitous TON volition classify an agreed-upon corporeality of TON Crystal — the native asset of the Gratis TON blockchain — to Dune Network. Dune Network community members will make up one's mind whether they desire to swap their tokens for the TON Crystal.
The merging process — which consists of proposal validation, the development of swapping infrastructure and the actual swapping menstruum — is expected to concluding roughly six months and cost ix million TON Crystal, which is equivalent to Dune Network's market capitalization. The merger will be funded through contests on the Gratis TON network, according to Sunderland.
Ane TON Crystal is currently valued at effectually $0.40, co-ordinate to CoinMarketCap, while Dune Network'southward native DUN token trades at less than $0.02. Both cryptocurrencies rose sharply on Tuesday, possibly in conjunction with the merger developments.
As Cointelegraph previously reported, Costless TON launched in May 2020, edifice on Telegram'south codebase. The project launched its mainnet in December 2020 afterward achieving "sufficient decentralization."
Source: https://cointelegraph.com/news/free-ton-to-merge-with-dune-network-in-decentralized-m-a-deal
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