The French project Dune Network proposes a merger with Ton Labs, the former Telegram project

Veröffentlicht von

The French Dune Network (DUN) project has been in discussion for several weeks with Ton Labs (TON) to merge their tokens, teams and communities. This merger proposal echoes the recent appointment of Cyril Paglino at the head of Bitcoin Machine platform.

Rumors of merger between Dune and Ton Labs

Rumors of a merger between Dune Network (DUN) and TON Labs seem to echo the appointment of the famous French entrepreneur at the head of Telegram’s ex-project . Indeed, Cyril Paglino has also been CEO of Dune Network since July 2019.

Currently, Dune is reportedly in the final stages of negotiations regarding the merger of the tokens , teams and communities of the two projects. We can read on the Dune Discord:

“We are currently finalizing the details of the merger . We intend to provide more information, and we will organize a vote to assess and react accordingly to community opinion ”.

As a reminder, Dune Network is the result of a fork of Tezos following differences within its community. Dune is powered by the startup Origin Labs from the OCamLPro group. From 2016 to 2018, the team was heavily involved in the design, creation and launch of the Tezos protocol.

Dune Network has been financially supported by renowned investors such as Xaviel Niel , Sean Rad (founder of Tinder) and Marc Simoncini (founder Meetic).

Merger process

As a first step, Dune presented its vision to the Free TON community on December 21 in order to assess and adjust all the details. Thus, the merger process will take place with the agreement of the two communities .

By accepting the proposal, Free TON will agree to allocate an amount of TON Crystal (TON) to the Dune community equal to approximately 9 million TON using a 3-month average of the capitalization between the two tokens.

In addition, the operation will give rise to the development of the infrastructure to carry out the swap, including the creation of a smart-contract on Dune Network. This will allow holders to send DUN tokens and register a corresponding Free TON address on which they wish to receive their TON tokens.

Origin Labs , the research center behind many developments on Dune Network, will focus its work and activities on the developments of Free TON.

If the merger operation is successful, it will be one of the first in the blockchain industry. According to the first feedback, this would have a good chance of succeeding:

“So far the reactions are positive , but if for some reason in the respective votes the project is not adopted then we could rework the proposal so that it is acceptable to everyone. „