The TON Foundation recently announced a partnership with Curve Finance to develop a stablecoin swap project on the TON blockchain. This collaboration will leverage Curve’s market-making technology to create a more efficient environment for stablecoin transactions on the blockchain. The goal is to simplify exchanges and reduce price impact during transactions.
The new stablecoin swap project will utilize Curve Finance’s constant-function market maker (CFMM) technology to enable low-slippage trading in the decentralized finance sector. An independent development team will be selected to build the project, ensuring transparency and community involvement. Curve Finance founder Michael Egorov will provide advisory guidance on the protocol’s mechanics and development strategies.
The partnership between TON Foundation and Curve Finance aims to address the growing demand for stablecoin trading within the TON ecosystem. Since the launch of USDT on the TON blockchain, there has been a significant increase in its circulation, reaching $729.9 million within four months. TON Foundation Defi Lead Vlad Degen highlighted the community’s historic level of demand for USDT and mentioned plans to introduce more stablecoins and assets from other chains, such as BTC, on TON.
According to Degen, having a native CFMM for comfortable interaction is crucial for the growth of the TON ecosystem. The partnership with Curve Finance, a leading market maker in the industry, was a natural choice to incubate this new project. In addition to stablecoin swaps, the collaboration may involve the airdrop of native tokens to qualified users, including holders of Curve Finance’s governance token, veCRV. Interested developers are invited to apply to participate in the project, with submissions open until September 24.
Overall, the partnership between TON Foundation and Curve Finance represents a significant step towards enhancing the efficiency of stablecoin transactions on the TON blockchain. By leveraging Curve’s market-making technology, the project aims to simplify exchanges and reduce price impact, meeting the growing demand for stablecoin trading within the TON ecosystem. The involvement of an independent development team ensures transparency and community engagement throughout the project’s development, with support and advisory guidance from Curve Finance founder Michael Egorov. Interested developers have the opportunity to participate in the project by applying before September 24.
