TON Foundation partners with Curve Finance to launch a stablecoin swap project.
The stablecoin swap project will use Curve’s CFMM tech to reduce volatility and slippage for TON stablecoin trades.
The project will be developed by an independent team under Curve’s Michael Egorov.
The TON Foundation has partnered with Curve Finance, a decentralized exchange (DEX), to launch a TON-based stable swap project. In a blog post announcing the partnership, TON Foundation, a nonprofit organization dedicated to advancing the Open Network (TON) blockchain, described it as a major step towards making stablecoin trading more accessible.
The new TON-based stable swap project aims at enhancing the trading experience for stablecoin swaps on The Open Network blockchain, using Curve Finance’s Constant Function Market Maker (CFMM) technology.
Reducing slippage and price volatility for stablecoin trades
This partnership is particularly noteworthy as projects seeking to use Curve Finance’s technology are typically required to obtain a license.
By integrating Curve Finance’s CFMM technology, renowned for minimizing the price impact on swaps between stablecoins and equivalent assets, the TON-based stable swap project is expected to offer users more efficient trading with less friction.
It will improve liquidity and reduce price volatility and slippage for stablecoin trades within the TON ecosystem.
By offering this innovative stable swap solution, the TON Foundation aims to enhance the broader adoption of its blockchain, while accelerating the growth of stablecoin trading.
Curve Finance’s founder to oversee the project’s development
The project, which will be developed by an independent team selected through a transparent process, will be overseen by Curve Finance’s founder, Michael Egorov, who will act as an advisor.
Egorov will assist the selected team in protocol mechanics and growth strategies.
The independent team will also be granted the rights to implement Curve’s CFMM formula in the new stable swap project, with a portion of the project’s tokens airdropped to eligible users.
The TON-based stable swap initiative marks a milestone in both platforms’ expansion, reinforcing the importance of stablecoins and low-slippage trading in the evolving DeFi landscape.
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