TON Governance Votes To Freeze 20% of TON Supply

1,726 voters using 1.7 million voted in favor of freezing inactive mining wallets


Alexander56891/ modified by Blockworks


A first governance vote has concluded on TON.Vote — a new on-chain governance voting solution built exclusively for the The Open Network (TON) ecosystem — with 1,726 voters using 1.7 million TON tokens to determine whether to freeze inactive mining wallets.

The community identified 204 inactive mining wallets in December last year, and called for miners to activate their inactive wallets before the start of the new year. 

As of Feb. 14, 2023, 182 remained inactive, roughly 0.009% of the total number of wallets on TON.

“These mining wallets — the genesis wallets which have mined Toncoin directly from the Proof-of-Work smart contracts — have never been activated and do not have a single outgoing transfer in their history,” the proposal said.

With 91% of community members voting in favor of freezing these wallets, this means roughly $1.08 billion of Toncoin’s total circulating supply of $5.05 billion — roughly 20% — will be locked for four years.

“This will give the TON ecosystem enough time to flourish while providing flexibility to those who may not be aware of these discussions in the community,” it said.

TON freeze vote debuts new governance voting platform

This proposal was the first one to be successfully conducted on TON’s new governance voting platform.

The TON Foundation and Orbs, a blockchain interoperability company, established TON.Vote to make decentralized governance more transparent and democratized on the network.

TON.Vote relies on Orbs Guardians to verify voting accuracy, a public network of permissionless validators on the Orbs network.

Similar to other voting platforms — requires users to connect their wallets and use their tokens to weigh in on proposals. is currently compatible with Tonkeeper, OpenMask, MyTonWallet, TonSafe, Tonhub, and TON Wallet.

Although voting is limited through TON transactions at the moment, it has plans to change to participation through wallet signatures in the near future. NFT voting will also be possible in the future, the company said.

“We see governance as a core component of any healthy decentralized community, and as such, we worked with the TON foundation as our design partner to create a decentralized governance platform,” Orbs’ Ran Hammer told Blockworks.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


Ethereum Dencun will enable Ethereum transactions to be submitted as blobs, potentially alleviating the costs of posting data on the blockchain


After a rocky start, bitcoin ETF shareholders are now well in the green


Revolut said that the standalone crypto exchange is currently “invite only”


The stock price jump comes after Coinbase reported ending its seven-quarter run of net losses during the fourth quarter


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile