The TON Foundation has joined forces with Curve Finance to create a new stablecoin swap project on the TON blockchain.
This collaboration aims to improve trading by using Curve Finance’s advanced technology.
In addition, the partnership will leverage Curve Finance’s Constant Function Market Maker (CFMM) technology.
This technology reduces price volatility and slippage during swaps while ensuring more efficient transactions.
TON Foundation and Curve Finance’s New Initiative
The Foundation, which supports The Open Network (TON) blockchain, has announced an exciting partnership with Curve Finance.
This collaboration aims to develop a new stablecoin swap project on the TON blockchain.
Moreover, the new project will utilize Curve Finance’s Constant Function Market Maker (CFMM) technology.
Additionally, this technology stands out with its ability to minimize price impacts and make stablecoin swaps more efficient.
According to Vlad Degen, the DeFi lead at the Telegram open network Foundation, integrating Curve’s CFMM technology will enhance the trading experience on TON.
He explained, “By integrating Curve’s CFMM technology, Telegram open network can make trading much more accessible to those who might not already be fully embedded into the ecosystem.”
This partnership will improve user experience and boost the adoption of TON’s blockchain.
How CFMM Technology Benefits TON
The CFMM technology from Curve Finance allows stablecoin swaps with reduced price volatility and slippage.
Consequently, users will experience more stable and efficient asset exchanges on the TON blockchain.
Currently, projects that want to use Curve Finance’s CFMM technology must obtain a license.
However, thanks to the new partnership, stablecoin swaps on TON through the new project will make this technology more accessible.
Moreover, the press release highlights that the collaboration aims to enhance the trading experience on TON.
“The collaboration with TON Foundation aims to improve the stablecoin trading experience on TON.
making TON-based trading more accessible and accelerating the Blockchain’s pace of adoption,” said a spokesperson from Curve Finance.
Selection Process for the New Project
The TON Foundation and Curve Finance will select an independent team to develop the stablecoin swap project.
To ensure fairness, this selection process will be public and transparent.
Furthermore, Michael Egorov, the Founder of Curve Finance, will act as an advisor to the chosen team.
He will assist with protocol mechanics and the project’s growth strategy.
In addition, the selected team will have the authority to implement Curve Finance’s stable swap formula into their project.
Additionally, new project tokens will be airdropped to qualified users, providing incentives for participation and engagement.
Curve Finance’s Recent Changes
In addition to this new partnership, Curve Finance recently changed its stablecoin strategy.
On June 28, Curve Finance shifted its focus to its native stablecoin, crvUSD, and altered its fee distribution mechanism.
This change came as a means to improve the utility of crvUSD and better integrate it into Curve Finance’s ecosystem.
Michael Egorov mentioned, “Users will now obtain fees in a dollar-denominated stablecoin,” which simplifies the process and provides a more stable user experience.
This collaboration is expected to drive further adoption and innovation within the blockchain space.
