The TON Foundation has announced a strategic collaboration with Curve Finance (CRV) to create a new stablecoin swap platform on the Toncoin (TON) blockchain.
The partnership aims to enhance user experience and increase the efficiency of stablecoin trading within the TON ecosystem.
According to a post on the TON Community Telegram channel, the project will leverage Curve’s fixed-function market maker (CFMM) technology to facilitate stablecoin swaps, reduce price slippage, and optimize the trading experience for users.
Vlad Degen, DeFi leader of the TON Foundation, explained the importance of this development with the following words:
“You will soon see more stablecoins and assets on TON than other chains like Bitcoin. A native CFMM is essential for seamless interaction, and working with one of the industry’s leading market makers was a natural choice for incubating this new project.”
This collaboration comes at a time when demand for stablecoins on the TON blockchain is increasing. Since USDt was launched on TON, its net circulation has increased to approximately $730 million in just four months. The TON Foundation believes that this new stablecoin exchange initiative will meet the increasing demand, increase liquidity, and accelerate the adoption of TON’s Web3 ecosystem.
The project will be managed by an independent team selected through a transparent process involving the TON community. Curve Finance founder Michael Egorov will provide advisory support to the selected team as they develop the platform.
*This is not investment advice.
