TON Foundation Partners with Curve Finance to Enhance Stablecoin Trading

TON Foundation- Introduction to the Partnership

TON Foundation– The TON Foundation, a nonprofit organization dedicated to the development of The Open Network (TON) blockchain, has announced an exciting new partnership with Curve Finance, a leading decentralized exchange (DEX). This collaboration aims to launch a new TON-based stable swap project, designed to enhance user experience and optimize stablecoin trading on the TON blockchain.

Integrating Curve Finance’s CFMM Technology

The upcoming TON-based swap project will utilize Curve Finance’s Constant Function Market Maker (CFMM) technology. CFMM is renowned for its ability to minimize price impact during stablecoin and equivalent asset swaps, thus providing a more efficient trading experience.

In a written Q&A with Cointelegraph, Vlad Degen, DeFi lead at the TON Foundation, elaborated on the benefits of integrating CFMM technology:

By integrating Curve’s CFMM technology, TON can make trading much more accessible to those who might not already be fully embedded into the ecosystem.

Benefits of CFMM Integration

According to a press release shared with Cointelegraph, the CFMM formula is designed to facilitate stablecoin swaps with reduced price volatility and lower slippage. This results in more efficient and reliable asset exchanges on the TON blockchain.

Currently, projects interested in using Curve Finance’s CFMM technology must obtain a license. The new TON-based stable swap project will be a notable feature of this partnership, as it will offer stable swaps without requiring a license.

Selection Process for the New Project

The TON Foundation and Curve Finance will be selecting an independent team to develop the new stable swap project. This selection will be conducted through a public and transparent process.

Michael Egorov, Founder of Curve Finance, will serve as an advisor to the chosen development team, providing guidance on protocol mechanics and the project’s growth strategy. The selected team will have the authority to implement Curve Finance’s stable swap formula into their project, with new project tokens allocated to qualified users via an airdrop.

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