FreeTON DeFi Alliance / Partnership Extension

Preamble

As decided by the community in September, we have now completed the foundational stage of FreeTON development and are currently entering a growth phase. The community has made several strategic decisions: including strengthening global governance and pausing the distribution of tokens to initial members. But we need to continue evolving our governance protocols and take some decisive steps in order to increase the liquidity in the network.

For almost 1.5 years, FreeTON has been experimenting with different decentralized governance formats. Some experiments went very well — e.g., the DeFi Subgovernance, whose solutions enabled the DeFi Alliance to bring in almost $30M of liquidity to the network; Grand Bazar - one of the industry’s higher-end NFT marketplaces; the Browser Extension contest that led to the appearance of several good alternatives to Metamask, etc. — and some did not: unsuccessful partnerships, overpriced contests, monopolized subgovernances, etc.

One of the lessons we have learned together is that technology alone is not enough to be competitive. However, technology backed up with significant liquidity can work miracles. For instance, although they are not as technologically advanced, several other blockchains grew much faster than FreeTON in valuation, primarily due to having significant liquidity inflows.

Last but not least, the negative legacy left by the Telegram Open Network’s litigations has prevented the network’s token from getting listed at top trading platforms and ranking websites, hampered our ability to forge significant partnerships, and, in general, been a formidable obstacle to business development.

With that in mind, we believe that our project must pass through a series of reforms in order to join the ranks of the top 20 most valued networks.

This document will highlight the most crucial challenges facing the network and propose solutions that will help us reach more advanced levels of development.

Summary

The FreeTON DeFi Alliance proposes to address the existing issues and upcoming challenges and requests additional funding for the implementation of:

  • Project rebranding;
  • Supply and demand balance;
  • Collaboration with top exchanges;
  • Consistent business development;
  • Developer attraction;
  • Integration and technical support of new partners;
  • Givers reform;
  • Better communication with the external world.

Givers

FreeTON has a system of givers with unallocated TON Crystals, that constitutes a massive risk to the long-term market cap of the project. The community responded to the idea of redistributing those tokens among additional target givers without enthusiasm.

We propose burning 3 billion TON Crystals from the referral giver.

Collaboration with top exchanges

There have been many decentralized attempts to list TON Crystals on different exchanges and information services (e.g., CoinMarketCap), which has led to a great deal of confusion among those services and uncertainty about who is entitled to speak on behalf of FreeTON.

To make TON Crystals available to a broad audience, while also ensuring liquidity, and a fair market price, the community needs to achieve listings at top centralized and decentralized exchanges.

However, collaboration with exchanges is a complex process requiring compliance data, project positioning, and integration support, among other things.

Moreover, not all listings are suitable for our network. Some may even harm the reputation of the token. In the Alliance, we are consulting with experts to forge a proper listing strategy.

Last but not least, top exchanges do not list tokens for free. Alliance members have covered the listing expenses for some time, but additional resources are now required to reach the most critical trading platforms.

The Alliance has all the necessary experience to coordinate community resources and to facilitate collaboration with top exchanges. We propose to allocate 250M TON from FreeTON for the activities outlined in this section and below.

Business development

A purely decentralized approach to partnership management has brought us some results and around 30 partnerships. Still, there are a few challenges that we need to address in order to grow much faster and attract more robust and successful partnerships:

  • Bias or lack of sufficient business skills of some of the FreeTON community members;
  • Misunderstanding of FreeTON goals, capabilities, and positioning;
  • Inability to duly support partners at the integration stage and KPI fulfillment control at the later stages;
  • Multi-window discussions with the same partners in some cases have led to a loss of credibility and significantly worse conditions for FreeTON;
  • Potential partners have no clear point of contact where they can obtain all the necessary information.

Thus we propose:

  1. To engage a significant amount of community members who can initiate, close, and follow through on meaningful partnerships that bring value;
  2. That the Alliance set up processes that will allow us to filter incoming leads and assign responsible community members to help partners to join the FreeTON family;
  3. That the Alliance perform regular retrospective analyses on partner contributions;
  4. To maintain a shared list of all potential partners, grouped by industry and vetted by a reputable person from this industry;
  5. To introduce a motivation system for the best-performing community members in business development.

Crystal Hands

The vast market demand in blockchain/crypto tends to spoil large liquidity providers and makes it their market. We developed a long-term “Crystal Hands” program with unprecedented benefits in order to be competitive with the other top blockchain protocols.

To become a member of this program, one has to bring at least $10M to the FreeTON ecosystem and keep it locked for at least eighteen months. All payments are vested and carefully calculated by professional portfolio managers with liquidity balance considerations in mind.

The motivation program that would support such a massive inflow of liquidity will require an additional pool of 280M TONs in order to operate successfully.

Developer/entrepreneur attraction and motivation

The current contests-only system has produced some strong results with a solid DeFi, NFT, and developer experience infrastructure. However, it has not been able to fulfill all the development needs of the ecosystem.

If we take a look at how other networks attract developers, they typically use grant systems. We think we should experiment with grant-like (tailored to Free TON ideology) solutions for professional teams scaling their businesses on top of the infrastructure created within the FreeTON contests framework.

Competing with top networks out there will require us to attract many more professional developer teams than we have today.

To be clear, we recommend keeping the current contest system for developing ecosystem infrastructure under an open-source license and targeted funding for those teams who have successfully implemented this infrastructure in their projects and brought significant value to the network.

The Foundation

After thorough research of competitive blockchain projects, we have realized the necessity of a dedicated public, not-for-profit, structure to serve as the front desk for the outer world. Please familiarize yourself with the Foundation – a group of FreeTON enthusiasts powered by popular influencers, experts, leading market institutions, and network facilitators.

Unlike the DeFi Alliance, aimed at filling FreeTON with liquidity, the Foundation will take care of partner support, the popularization of the project, communication with all kinds of counterparties, education, and the promotion of FreeTON values and ideas.

Although it is a non-commercial institution, the Foundation will require some funding in order to function. With our current vision of its primary objectives, we recommend allocating 50M TON for this activity. The Foundation from the very beginning will be structured as a DAO.

Integration and technical support

FreeTON is not a simple blockchain to integrate. Even with a whole set of tools developed by TON Labs, Broxus, and other community members, newcomers still need support and advice on where to start and access the best practices.

Although FreeTON has demonstrated sufficient progress in documenting crucial parts of the system, there’s still a lot to do. Unfortunately, we see no other choice than to still provide human support to new projects coming to the ecosystem.

To grow the credibility of developer teams towards FreeTON and reduce the entry barrier for them, we propose сreating a working group under the Foundation that prepares, consolidates, translates, and updates the documentation on the key systems and tools used in the FreeTON ecosystem.

Better communication

Community efforts in communication with the press have been quite controversial. The Alliance has made its own efforts to make messages from FreeTON more consistent.

We believe that establishing a clear channel for the press to get official comments on the Foundation activity will help establish FreeTON communication consistency moving forward.

These communication volunteers shall collect news and updates across FreeTON and will ask for different SG and community members’ (CMs) comments.

Thus, we propose to allocate a sufficient budget for data collection, rewriting, copywriting, preparing and distributing press releases, organizing our own press briefings, and representing FreeTON at external events under the guidance of the Foundation.

Initial members unvested tokens DAO

The community took a decision to suspend vesting for FreeTON initial members. We consider that those unvested tokens should bring some rewards from staking. We propose to launch a DAO which will select community DePools and stake TONs on behalf of all initial and new members.

Next steps

To commence the changes above, we propose to:

  1. As part of the Growth phase prepare and launch Stage 2 of the DeFi Alliance and allocate an additional 250M TON for this;
  2. Prepare and launch the Crystal Hands special project and allocate 280M TON for farming and vested bonuses to enable a significant inflow of liquidity;
  3. Prepare and launch the Foundation and allocate 50M TON for its purposes;
  4. Burn 3B TON from the referral giver;
  5. Select a new brand name and begin the rebranding process ASAP.

Annex 1. FreeTON DeFi Alliance contribution

In this Annex, you will find the core contributions of different Alliance teams.

Development

Console utilities

Alliance developers have introduced convenient console utilities that help in secure funds management, like ton-msig or ton-distribution.

End-user products

TON Crystal Wallet

With the start of the network, the community required a simple yet efficient wallet to operate with TON Crystals. In order to meet this need, we ported the original Gram Wallet developed by the Telegram team to support FreeTON on three desktop platforms: Windows, macOS, and Linux.

Later on, we added the support of easy staking/withdrawal from depools and TIP-3 tokens to support TON Bridge operations.

However, although solid from a UI perspective, this wallet was tough to maintain due to the peculiarities of its source code organization. That’s why we decided to entirely revamp the wallet core and release a new version, based on the Chrome platform.

Since then, many features have been added to the wallet, including the convenient representation of FreeTON accounts architecture, multi-seeds, multi-keys, multi-contracts and multi-accounts, built-in web3-like transport to let web dApps interact with FreeTON without friction, increased security, etc.

In our plans, we want to release TON Crystal Wallet on other mobile and desktop platforms and fine-tune its UX/UI even further.

Get TON Crystal Wallet

Source code

TON Bridge

If the native blockchain currency is its blood, then the external liquidity coming into it is the oxygen needed for a young project to grow. With the most liquidity concentrated in Ethereum and other EVM networks, the most obvious way to attract it is to let it flow without friction from those chains to FreeTON and back.

This is exactly what TON Bridge does.

An award-winning masterpiece of blockchain technology, with over 200k code lines, it is now one of the most advanced bridges in the industry. The first development iteration brought slightly under $30M to the FreeTON ecosystem without a functioning DAO.

With a new version currently in the works, the bridge will become a fully decentralized system containing a DAO, staking, relayers and liquidity management modules that will connect to multiple EVM networks at once. It will unlock the next growth level for the whole FreeTON network, with a potential $1B of liquidity inflow over the next year.

The Bridge has been fully audited by reputable companies and will be published in open-source.

TON Bridge website

Wrapped TON

For convenience and uniformity of operations, we have introduced a Wrapped TON or WTON TIP-3 token. This facilitates seamless exchange and bridge operations, in a manner similar to what WETH and WBTC do for the Ethereum network.

One can comfortably wrap/unwrap TON Crystals at wton.io using their TON Crystal Wallet extension.

Source code

TON Scan

Award-winning blockchain explorer TON Scan lets users easily track their transactions, dig into FreeTON blocks and messages, and monitor validators’ performance. Moreover, it is the only tracker able to monitor TIP-3 token transactions.

TON Scan website

Source code

TON Swap

TON Swap is an AMM-based decentralized exchange that combines the best practices of Ethereum DEXes with the unique opportunities presented by FreeTON. With TON Swap, you can easily exchange TIP-3 tokens, stake liquidity in pools, participate in farming programs and even build your own token.

TON Swap TVL has exceeded $27M, which would put it in 65-th place in the DeFiPulse ratings, right after the Gnosis, if the former was listed there.

TON Swap website

B2B products

TON API

As we said before, it is not easy to integrate FreeTON. Although multiple SDKs allow interaction with FreeTON, even a simple operation of sending a transaction from a wallet becomes complex in terms of development.

To speed up FreeTON market penetration, including listings on different wallets and exchanges, we have developed an industrial TON API. This simple and lightweight product lets you operate your TON accounts seamlessly with any multi-signature scheme of your choice.

In the recently released fourth version of TON API, we have built-in a lite node that allows interaction with FreeTON without relying on a GraphQL or ADNL connection to external nodes.

Last but not least, TON API is now available in open-source, and anyone can install it on their server to ensure maximum security and reliability.

Documentation

Source code

Nova

Broxus Nova is an additional abstraction layer that allows business customers to operate with different kinds of cryptocurrencies, including Bitcoin, Ether, ERC20 tokens, and TON Crystals.

With the introduction of TIP-3 tokens to TON API, now Nova users may enjoy operations with selected TIP-3 tokens. This will increase FreeTON accessibility for numerous wallets and other systems built on top of Broxus Nova.

Documentation

Development and infrastructure utilities

TIP-3/Broxus

After Mitja’s initial TIP-3 token standard proposal, it became apparent changes were necessary. Following a thorough review, we have put together a standard upgrade named TIP-3/Broxus that is currently used by all Broxus DeFi products, and has become the de facto network standard.

This upgraded standard contains significant improvements in terms of gas management, connectivity, deployment checks, etc.

Source code

Nekoton

This fast, reliable, and robust wallet library written in Rust has many features for building decentralized wallet systems. In particular, Nekoton serves as the underlying core for TON Crystal Wallet, making it so stable and reliable.

Source code

Locklift

Locklift is a development environment aiming to help you with FreeTON contracts development. With Locklift, you get:

  • Network management for working with any networks (main, test, local, …)
  • Automated contract testing with Mocha
  • Handy wrapper around FreeTON smart contracts
  • Custom givers support
  • Keys management
  • External script runner that executes scripts within the specified environment

With Locklift, your smart contracts development process will evolve to the next level.

Source code

TON Indexer

TON Indexer is a lite-node SDK that developers can use to build solutions that independently interact with FreeTON. In particular, TON Indexer is used in TON API and TON Pool to ensure their stable working.

Source code

Liquidity

Most of TON Swap’s liquidity has been attracted through our network of contacts. We will continue our daily funds consulting and market-making duties to stabilize the TON Crystal rate and avoid huge fluctuations.

Our current focus is to attract Tier-1 VCs and the world’s top liquidity providers to subsequent phases of our liquidity farming programs.

Listings

The DeFi Alliance has facilitated the launch of trading and market making on major exchanges that cover over 95% of daily trades, according to Coingecko and CMC. Currently, we coordinate listing on at a Tier-1 licensed European trading platform.

Partnerships

The Alliance has managed to establish partnerships with FRAX and Stasis (EURS) and initiated early discussions of potential cooperation with Curve Finance, Tornado Cash, and Balancer Finance senior executives

It has also managed to forge a partnership with Cointelegraph, which has reached produced some fascinating results:

  • About 150 FreeTON publications that have been translated eight languages (including Chinese, Korean, Turkish, etc.);
  • The preparation of the Cointelegraph Consulting Report to support a new phase of FreeTON development. CT will distribute it across the professional market players;
  • The launch of a series of special projects to draw attention to the network.

Besides CT, we have also created partnerships with Changelly, Lumi Wallet, and Freewallet - one of the industry’s most significant wallets with a multi-million user audience.

PR & Events

With the help of the Alliance, FreeTON has partnered with SiGMA Conferences for the best possible representation at AIBC Dubai. This Autumn, FreeTON representatives will also be working at AIBC Malta.

Also, thanks to its efforts and financing, FreeTON will be presented at Dubai Blockchain Week (WOW Summit and AIM conference).

Last but not least, we have co-organized and financed the Top TON Startup competition, an event to bring new developers to the FreeTON ecosystem.

31 Likes

очен верно мне кажется

++++

++++++++++++++++++++++++++++++

Читать приятно. Огромный труд. Мы должны прислушиваться к тем кто столько всего хорошего
делает для развития сети. Но так же нужно исключить различные противоречие в планах развития, как быть с токеном NOT который должен был быть построен на тех самых кристаллах которые предложено сжечь, например? Давайте внимательно отнесемся к такому Прорывному для развития сети
решению.

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Напишите пожалуйста возможные явные риски

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How to take part Top TON Startup competition? Website doesn’t work, no contracts. No one responded in DeFi chat…

По поводу пропоузала:
Если цель привести большую ликвидность и повысить цену токена (начать ходить вместе с рынком), то все что описанное безусловно хорошие шаги для этого. Но конечно это вносит очень серьёзные корректировки в модель распределения токенов и философии проекта, которая так пафосно озвучивалась в WP и на комьюнити звонках. Можно найти миллионы сообщений о том что FreeTON никогда не будет просить себя залистить и тому подобное.

Все думают о том чтобы заработать и расти, это нормально. Подход который вы предлагаете намного быстрее приведет к результату, чем более децентрализованный подход.
Но если выкинуть из головы деньги, я хотел бы быть в таком Free TON проекте, где главное это децентрализация, а не быстрый рост.

А так, хорошее предложение. Давайте, сжигаем токены, остальные передаём в альянс, фандейшен, гранты и тому подобные вещи и делаем ребрендинг. А все те идеи которые закладывались изначально пусть умирают вместе с старым названием. Хороший был эксперимент

12 Likes

I’m in for the growth. Fully supported.

Saw the contribution of the DeFi Alliance. Fully support the proposal.

Хорошее предложение, поддерживаю все пункты! Тут хотя бы виден свет в конце туннеля, а то в последнее время стало не понятно, куда мы движемся и что, кому пытаемся доказать… Желаю успехов нам! А если нужна помощь или у вас свободные вакансии, готов помогать, пишите

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Эпическая фраза, наверное прошло то время когда можно было развиваться в этом формате или же это мог сделать проект с большой пользовательской и лояльной базой допустим телеграм. Король умер. Да здравствует король!

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Я думаю, всем стало, что одной технологии мало для развития в нечто большее.
Важнее управление, стратегия и долгосрочное видение всех стейкхолдеров. Мы, участники коммьюнити, верим в TON и видим как одну из топовых сетей.

Поэтому, направление мысли действительно правильное.
Поддерживаю. Надо все правильно реализовать.

хорошая инициатива!

без бирж нет ликвидности, без нее и проект не будет расти.

А так хотелось бы поторговать, потрейдить так сказать. Я инвестирую на фондовом рынке и понимаю, что это архиважно.
Это базовая концепция рынка

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Where are KPIs, pardon my French?

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Будем честными, децентрализация нужна главным образом для того, чтобы некого было взять за одно место и найти крайнего. Я не верю в результативность в наших подходов, посмотрите, хотя бы, как используются результаты конкурсов, сколько провальных…
Полностью децентрализованный проект, не имеющий другой ценности никому не нужен. Большинство партнерских программ просто освоили средства, у нас нет пока нормального практического применения блокчейна.
То, что предлагается, принесет денежную ценность, это, как минимум, принесет внимание к проекту, а это уже кое-что.

6 Likes

My thoughts exactly.

Cooperation with top exchanges
I support it, I think that a paid listing may be appropriate. But only with those exchanges where the payment will clearly pay off and bring new users. If we are present on large exchanges, the listing of the crystal on small and medium-sized exchanges will go like clockwork.
I see some difficulty in transparency, not all exchanges want public coverage about the listing fee.

Business development
I support, in my opinion, we are clearly overpaying many partners and at the same time the return is small. I think we need some responsible groups of people interacting with this or that partner. Now it looks like it’s on its own. We need to squeeze everything we need out of our partners.

Crystal Hands
Wealth is for the rich.
Doubt, This step needs to be very carefully thought out, volume liquidity is certainly needed, but without harming the project in the future.

Reception - I support

Integration and technical support
Definitely yes. There are already several trading exchanges ready to add crystal. The complexity of integration slows down this process. (4 exchanges are ready)

Burn 3B TON
I doubt. We need to study the consequences better. But if we have the opportunity to issue tokens in portions and whether it will be more effective for the stability of the exchange rate in the future.

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Хорошее предложение, поддерживаю полностью

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Каждый пункт поддерживаю!)
Это то,что нужно! Поддерживаю данное предложение! Дальше=больше!)

I am surprised by the small amount requested to create a Foundation. Usually, Foundations works by investing their funds, and then using the generated interests on a yearly basis to fund their daily activity. With only 50 Million TON, i.e. approx 16 million USD, it means the activity of the Foundation will be around 800 kUSD/year. Not too small, but not big either…

Очень хорошо и тонко подмечено, но тут не учтен еще один немаловажный фактор, необходимо большое, хорошо организованное и активное комьюнити. Без этого все эти инициативы обречены и это в первую очередь касается сжигания 3 млрд монет, которое в лучшем случае не даст никакого эффекта, не повысит стоимость, а скорее всего цена наоборот начнет падать. И опять же причина та же, ограниченное предложение создает дефицит и повышает цену, только в случае когда огромная масса пользователей покупает эти монеты, а этого нет и близко… В данной ситуации гораздо более правильным было бы сжигать монеты небольшими порциями одновременно увеличивая сообщество и при этом ограничивая постепенно предложение.

Листинг на топовых биржах идея не новая, но здесь немного более развернуто к ней подошли и это действительно тот краеугольный камень с которого нужно начинать. Именно листинг и продвижение на топ-10 бирж привлечет новых польхователей, в том числе и разработчиков, активизирует и увеличит сообщество на базе чего уже можно двигаться дальше.
Хотя и для листинга необходимо иметь определенное количество холдеров, равномерное распределение по кошелькам, а не так как сейчас, количество транзаций в день и т.д…

Естественно листинг необходимо сделать после редрендинга.

А так хорошее предложение, которое по крайней мере активизирует какое то движение в проекте и возможно увеличит его ценность.

Very well and subtly noticed, but one more important factor is not taken into account here, it is a large, well-organized and active community. Without this, all these initiatives are doomed, and this primarily concerns the burning of 3 billion coins, which at best will not have any effect, will not increase the value, but most likely the price, on the contrary, will begin to fall. And again, the reason is the same, a limited supply creates a deficit and increases the price only if a huge mass of users buys these coins, and this is not even close … In this situation, it would be much more correct to burn coins in small portions while simultaneously increasing the community while limiting the supply gradually.

Listing on top exchanges is not a new idea, but here it was approached in a slightly more detailed way and this is really the cornerstone from which to start. It is the listing and promotion on the top 10 exchanges that will attract new users, including developers, activate and increase the community on the basis of which it is already possible to move on.

Naturally, the listing must be done after the redranding.

And so a good proposal, which at least activates some kind of movement in the project and possibly increase its value.

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I’d say this is one of the game-changing posts I’ve seen in 2021. It’d be breathtakingly awesome if we move down this path. Therefore I and my team fully support this proposal.

We Chinese team are willing to participate in DAO - Tech team and DAO - PR team. Anyway, let’s make this happen. It’s vital for the whole project!

2 Likes