TON Foundation Collaborates with Leading DEX Curve Finance to Incubate a TON-Based Stable Swap Project

The parade of exciting DeFi collaborations continues to grow. TON Foundation, the non-profit organization accelerating the growth of The Open Network Blockchain (TON), has teamed up with Curve Finance, a leading DEX, to incubate a TON-based stable swap project. The collaboration will create new opportunities for stablecoin trading on the TON blockchain, opening the doors to a more accessible and efficient trading environment.

Leveraging Curve’s market-making expertise for seamless trading

The upcoming project will use Curve’s constant-function market maker (CFMM) technology. By integrating this advanced mechanism, we aim to simplify stablecoin swaps, enhance the user experience, and minimize price impact during trades. Curve’s CFMM technology has helped revolutionize decentralized finance (DeFi), and its integration on TON will only amplify the impact of stablecoin trading.

We’ll work together to select an independent development team to build the new project, ensuring transparency and community input throughout the process. Michael Egorov, founder of Curve Finance, will play an advisory role, offering expertise in protocol mechanics and development strategies.

“In the four months since USDT’s launch, our community has demonstrated a historic level of demand for the token,” said Vlad Degen (https://x.com/@VladDegen), DeFi Lead from TON Foundation. “You will soon see more stablecoins and assets from other chains, such as BTC, on TON. We need a native CFMM for a comfortable interaction — this is mandatory for our growth! Working with one of the industry’s leading market makers to incubate this new project was a natural choice.”

The selected team will implement Curve Finance’s stable swap formula and receive support to help grow the project. An allocation of the new project’s native tokens will also be airdropped to qualified users, including veCRV holders.

Meeting surging demand for TON-based stablecoins

With USDT on TON reaching a net circulation of $729.9 million just four months after its launch - the fastest-growing USDT launch ever - it’s clear demand for stablecoins on TON is surging. With more assets being developed on TON daily, the Curve Finance collaboration will meet this growing demand by delivering a better stablecoin trading experience while minimizing price impact, boosting liquidity, and contributing to the continued adoption of TON blockchain.

With the upcoming TON-based stable swap project, we're enhancing trading conditions and further propelling TON's Web3 ecosystem. Teams interested in applying to develop the project can apply at the link below:

https://forms.gle/sdkT4fWLyCpRvQWD8

Submissions are open one week after the announcement! Until September 24.

About Curve Finance

Curve Finance is a leading global decentralized exchange (DEX) designed for efficient, fully automated, and low-slippage trading of stablecoins and equal tokens, also having its stablecoin and lending platform. Established in 2020 and presently headquartered in Switzerland, Curve Finance quickly distinguished itself within the DeFi ecosystem by being one of the few platforms to make use of an automated market maker (AMM) algorithm instead of an order book to match liquidity.