TON Foundation Taps Curve Finance to Improve Stablecoin Liquidity

• TON and Curve Finance collaborate to improve stablecoin trading using CFMM technology.
• The project will reduce price slippage, boost liquidity, and improve user experience.
• Curve Finance founder Michael Egorov will advise, with token airdrops planned for eligible users.

The TON Foundation has teamed up with Curve Finance to support a new TON-based stable swap project. This collaboration will enhance stablecoin trading on the platform, making it more efficient and user-friendly.

Leveraging Curve’s Technology for Improved Stablecoin Swaps

The upcoming project will leverage Curve’s constant-function market maker (CFMM) technology to simplify stablecoin swaps and help reduce price slippage during trades. It will also improve the overall user experience and offer smoother transactions in the stablecoin market.

Curve’s CFMM technology has been a game-changer in the DeFi space. Its implementation on TON is expected to elevate the stablecoin trading environment on the blockchain significantly.

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The TON Foundation and Curve Finance will carefully select an independent team to lead the project’s development. The foundation has stressed on transparency and urged for community participation in the process. Michael Egorov, the founder of Curve Finance, will act as an advisor, offering his insights on protocol mechanics and growth strategies.

Meeting the Growing Demand for Stablecoins on TON

Vlad Degen, DeFi Lead at the TON Foundation, pointed to the substantial demand for stablecoins on the platform, particularly since the recent launch of USDT on TON. With a net circulation of $729.9 million, TON USDT has seen rapid adoption, becoming the fastest-growing USDT launch.

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Degen highlighted the need for a native CFMM to facilitate stablecoin interactions and support the increasing number of assets being built on TON, including potential support for tokens like Bitcoin.

The chosen development team will implement Curve’s stable swap formula and receive assistance to further develop the project. An allocation of the project’s native tokens will be airdropped to eligible users, including veCRV holders.

This partnership aims to meet the rising demand for stablecoins on TON, improve liquidity, reduce price impact, and contribute to the broader adoption of the TON blockchain. TON traded at $ 5.51 during press time, reflecting a 0.20% intraday increase.