STON.fi, a major DeFi protocol on The Open Network (TON), has just launched the first fully decentralized DAO in the ecosystem, allowing users to directly participate in protocol governance. Over 5.6 million STON token holders can propose ideas, discuss, and vote on important changes. Those who stake STON will receive ARKENSTON, a non-transferable token used to represent voting rights.
Voting power increases over time and with the amount staked, ensuring long-term users have greater influence. CEO Slavik Baranov stated that this is an important step toward true decentralization. During its four-week trial phase, the DAO received over 115 proposals from the community. Currently, STON.fi is the largest DeFi platform on TON, processing 29.8 million transactions, serving 5.6 million wallets, and reaching a total swap volume of over $6.6 billion. The new DAO adds a governance layer to the Omniston liquidity system and the STON.fi swap application.
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