To achieve maximum decentralization, the Free TON project has SubGovernances (SGs for short). In this series of articles, we will find out what it is, what SubGovernances exist in Free TON, and on what principle they are created.
So, a SubGovernance is a Decentralized Autonomous Organization (DAO). People familiar with other blockchain projects have probably already met this abbreviation. It is an organized group of people who jointly perform tasks of a specific subject while distributing work among themselves based on an agreed set of rules. In blockchain projects, these rules are stored in smart contracts, and their implementation is monitored automatically.
Free TON is the most decentralized project in the world, we say it with confidence. The project’s network has more than 400 validators, all tokens are distributed meritocratically, and decisions are made through community voting.
Members of the project’s SubGovernances are also periodically re-elected, each new cast operates according to the same set of rules, regularly providing the community with a report on the work done and requesting tokens for its payment. Currently, there are 26 SubGovernances in Free TON. We will talk about them in the next article.