On-chain governance in STON.fi: Fully decentralized DAO

On-chain governance in STON.fi: Fully decentralized DAO

The advent of on-chain governance in STON.fi marks a major milestone for the TON ecosystem. With the introduction of the first fully decentralized DAO, users now have the opportunity to actively participate in the management and evolution of the protocol. Governance is done by staking STON tokens, which are granted to users by ARKENSTON, which represents their voting power within the DAO.

The Importance of On-Chain Governance

In the crypto space, many projects rely on off-chain voting tools or centralized decision structures. In contrast, STON.fi operates with a fully on-chain DAO, ensuring that governance is auditable and intrinsically related to the protocol. Proposals are voted on using token-aligned voting power, and the results are permanently recorded on-chain, thus ensuring the integrity of the decision-making process.

How the STON.fi DAO works

The STON.fi DAO is powered by ARKENSTON, a non-transferable token that represents voting power. Users earn ARKENSTON by staking STON tokens, and their voting influence increases based on:

• The number of STON tokens staked.
• The duration of the lock-up period for those tokens.

This model seeks to align governance authority with long-term commitment rather than short-term speculation.

The Governance Process

Governance in STON.fi follows a clear and transparent workflow that allows for active community participation. The process is divided into several stages:

• Proposal Creation: Members submit proposals detailing the suggested changes, their expected impact, and implementation details.
• Discussion Period: The community has 7 days to review the proposal, ask questions, and identify potential risks.
• Voting Period: For 14 days, members can vote using their ARKENSTON voting power. Proposals that meet quorum requirements will move forward.
• Implementation: The approved proposals are integrated into the protocol’s development roadmap.

This approach prioritizes clarity and accountability at every stage of the governance process.

How to Join STON.fi Governance

Participation in STON.fi governance is accessible and allows any user to transform their day-to-day feedback into real impact within the protocol. The steps to join are as follows:

• Step 1: Stake STON tokens on the STON.fi application, locking them for a period of 3 to 24 months.
• Step 2: When staking, ARKENSTON tokens are automatically generated, representing your voting power.
• Step 3: Propose and vote on improvements and features within the ecosystem.

DAO Access

The governance of the STON.fi DAO is active on dao.ston.fi, where users can explore existing proposals, participate in discussions, and vote on changes to the protocol. Prior to the official launch, the DAO went through a 4-week testing period that evidenced strong interest and adoption from the community, with over 115 proposals submitted.

Impact on the TON Ecosystem

The DAO offers users the opportunity to directly influence features and upgrades that affect their DeFi experience. For builders, it provides a transparent path to introduce community-backed integrations and enhancements.

For the TON ecosystem, STON.fi’s on-chain governance sets a new standard for maturity and accountability, qualities that will attract investors, partners, and contributors.

Join STON.fi Governance

• Access the DAO: Visit dao.ston.fi to explore governance proposals and documentation.
• Start participating: Stake STON through app.ston.fi to gain voting power.
• Create proposals: Presents ideas for ecosystem improvements, features, or initiatives.
• Vote on decisions: Use your ARKENSTON voting power to shape the future evolution of STON.fi.

The STON.fi DAO propels TON into a new era of community-driven governance, structured around verifiable decisions and fully on-chain. The future of the protocol now belongs to its users.

Source: blog.ton.org