Originally published on: September 17, 2024
The TON Foundation, dedicated to advancing The Open Network (TON) blockchain, has joined forces with Curve Finance, a leading decentralized exchange (DEX), to introduce an innovative stablecoin swap project.
By combining their expertise, the partnership aims to enhance user experience and streamline stablecoin trading on the TON blockchain. Leveraging Curve Finance’s renowned Constant Function Market Maker (CFMM) technology, the TON-based swap project will revolutionize the way stablecoin and equivalent asset swaps are conducted by minimizing price impact.
Vlad Degen, DeFi lead at TON Foundation, elaborated on the integration of CFMM technology, emphasizing the significant benefits it brings to stablecoin swaps. This initiative marks a significant milestone in the TON Foundation’s mission to bolster the efficiency of asset exchanges.
To utilize Curve Finance’s CFMM technology, projects traditionally required a license. However, through this partnership, stable swaps on the TON blockchain will be more accessible, offering a compelling feature for users in the ecosystem.
The collaboration between the TON Foundation and Curve Finance will see an independent team spearhead the development of the stable swap project. Through a transparent selection process, the chosen team will have the opportunity to implement Curve Finance’s stable swap formula, with project tokens allocated to qualified users.
In addition to this groundbreaking partnership, Curve Finance recently transitioned to its native stablecoin crvUSD, enhancing fee distribution mechanisms for users. According to Michael Egorov, this shift enables users to receive fees in a dollar-denominated stablecoin, creating a more straightforward and stable experience for all involved.
As the TON Foundation and Curve Finance pave the way for innovative stablecoin swaps, this collaboration marks an exciting development in the realm of blockchain technology. Stay tuned for updates on this transformative initiative that promises to redefine the landscape of stablecoin trading.
