TON and Curve Finance Team Up for TON-based Stablecoin Swap

• TON Foundation collaborates with Curve Finance to initiate a stablecoin swap venture.
• The stablecoin swap venture will leverage Curve’s CFMM technology to minimize volatility and slippage in TON stablecoin transactions.
• The project will be carried out by an independent team under the guidance of Curve’s Michael Egorov.

The TON Foundation has teamed up with Curve Finance, a decentralized exchange (DEX), to kickstart a TON-based stable swap initiative. In a blog post detailing the collaboration, the TON Foundation, an organization focused on promoting the Open Network (TON) blockchain, highlighted this partnership as a pivotal move towards simplifying stablecoin trading.

The upcoming TON-based stable swap initiative intends to improve the trading experience for stablecoin exchanges on The Open Network blockchain, employing Curve Finance’s Constant Function Market Maker (CFMM) technology.

Mitigating slippage and price instability for stablecoin transactions

This collaboration is particularly significant as projects looking to utilize Curve Finance’s technology usually require a license.

By adopting Curve Finance’s CFMM technology, which is well-known for reducing the price impact on swaps between stablecoins and similar assets, the TON-based stable swap initiative is anticipated to deliver users an enhanced trading experience with reduced friction.

It will enhance liquidity and minimize price fluctuations and slippage for stablecoin transactions within the TON ecosystem.

Through this cutting-edge stable swap solution, the TON Foundation aspires to promote the wider adoption of its blockchain while hastening the development of stablecoin trading.

Curve Finance’s founder to supervise the project’s progression

The initiative, which will be executed by an independently chosen team via a transparent selection process, will be supervised by Michael Egorov, the founder of Curve Finance, who will serve as an advisor.

Egorov will aid the selected team with protocol mechanics and growth strategies.

The independent team will also receive rights to apply Curve’s CFMM formula in the new stable swap initiative, with a portion of the project’s tokens distributed to eligible participants.

The TON-based stable swap project signifies a key development in the growth of both platforms, underscoring the increasing relevance of stablecoins and low-slippage trading within the dynamic DeFi environment.