- The TON Foundation partners with Curve Finance to develop a native stable swap, enhancing stablecoin trading on the Blockchain.
- The project integrates Curve’s constant-function market maker (CFMM) system, aiming to improve liquidity, reduce slippage, and simplify stablecoin exchanges.
- TON will airdrop native tokens to eligible community members, encouraging early adoption and bolstering the expanding DeFi ecosystem
The TON Foundation, the driving force behind the TON Blockchain, has revealed that it is partnering with Curve Finance. Curve Finance is among the well-known decentralized exchanges (DEX) in the world of DeFi. This strategic partnership will seek to develop a native stable swap on the TON blockchain to provide its users a more efficient and convenient way of engaging in stablecoin trading.
The upcoming project will incorporate Curve Finance’s well-known constant-function market maker (CFMM) system. This method has helped revolutionize the DeFi space, especially by making it easier and cheaper to swap stablecoins. Through this integration, the new initiative aims at enhancing the user experience, reducing the complexity of stablecoin exchanges, and reducing the trade’s effect on the platform
TON’s Strategic Development
TON Foundation and Curve Finance will select an independent development team to implement this project and guarantee the project’s openness and inclusiveness. The founder of Curve Finance, Michael Egorov is to give consultancy services and use his experience to help in technical and strategic development of the project.
As noted by Vlad Degen, the DeFi Lead at TON Foundation, the partnership is perfect given the current developments in the market.
“In the four months since USDT’s launch, our community has demonstrated a historic level of demand for the token. You will soon see more stablecoins and assets from other chains, such as BTC, on TON. We need a native CFMM for a comfortable interaction.”
The platform development team will introduce the Curve stable swap model into the TON ecosystem to improve the liquidation and trading aspect. To this effect, several native tokens of the new project will be airdropped to eligible members of the community, including those who hold veCRV tokens of Curve to encourage early adoption and usage.
This partnership comes at the right time with platform continually expanding. Since the time it was introduced to the network, USDT has expanded significantly with a net circulation of close to $730 million. Since more and more assets are being integrated into blockchain, this new stable swap project will be able to meet the increasing demand for stablecoin trading.
About the user experience and the further development of platform’s DeFi, it is expected that the partnership with Curve Finance will accelerate the decrease in price slippage and improve the liquidity. This partnership is critical for the blockchain as it shows the projects’ commitment to building a reliable and open DeFi environment for its users.
