Free TON Launches First Community Contest To Power Its Network
A decentralized blockchain network derived from Telegram’s TON blockchain, Free TON is launching the first community contests to power its network.
Starting from May 18, users, developers and validators are invited to participate in three separate contests, with Free TON planning to distribute thousands of TON Crystals, or Tons, as rewards.
On May 18, the Free TON Community officially introduced proposals for the first community contests on the Free TON forum.
Each contest aims to distribute at least 50,000 Tons among winners, participants and juries. The three contests are expected to close on May 25.
The first batch of Free TON contests consists of a developer-focused competition on:
Soft majority voting, also known as SMV system
The SMV and DevOps contests are designed for developers and validators while the airdrop-mechanics competition is open for anyone who wants to participate.
The Free TON Community says that Free TON contests are the only way to receive TON Crystals for now, which means that Tons can only be distributed among those who have contributed to the network.
The mission of these contests is to “distribute tokens in a meritocratic way,” noting that the community is planning to do more and more competitions each week.
There are more than five billion TON Crystal tokens with:
85% of them planned to be distributed to Free TON partners and users
10% to developers.
5% for the community’s validators
Meanwhile, people from the United States currently cannot participate in the network. Free TON’s description for the airdrop mechanics competition reads:
“Anyone can participate, but Free TON cannot distribute Tons to US citizens or US entities.”
Apparently, U.S. persons are not invited to participate in the Free TON Blockchain amid the existing regulatory concerns over Free TON’s parent blockchain.
Despite the complicated regulatory situation, the Free TON Community still hopes that U.S. entities will be part of the network someday.
Source: Cointelegraph | Image: Pexels
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