The TON Foundation, the nonprofit backing the development of The Open Network (TON) blockchain, has unveiled a new partnership with Curve Finance, a leading DEX.
The collaboration aims to launch a swap project that will improve user experience and optimize stablecoins trading on the TON blockchain. The project will leverage Curve Finance’s Constant Function Market Maker (CFMM) technology to minimize price slippage during stablecoin and equivalent asset swaps. This will result in more efficient and cost-effective trading for users.
The TON Foundation and Curve Finance noted in a recent press release that they plan to select “an independent team” to lead the development of the project through a “public and transparent” process. Michael Egorov, Founder of Curve Finance, will serve as an advisor to the chosen team, guiding them on protocol mechanics and helping shape the project’s growth strategy.
The selected development team will be granted permission to integrate Curve Finance’s stable swap formula into their project, with a portion of the project’s tokens airdropped to eligible users as part of the initiative.
This partnership comes as both organizations are focusing on enhancing their ecosystems. Curve Finance recently transitioned from its 3cr token to the new native stablecoin, crvUSD, for fee distribution. This update is expected to boost crvUSD’s functionality and improve its integration within the Curve Finance ecosystem. The new fee distribution system is anticipated to drive greater user engagement, allowing users to deposit crvUSD earned from fees directly into the ecosystem. Egorov highlighted that while 3crv’s value tends to rise, its variable conversion rate required additional steps for users to convert it into a stable or usable currency.
Meanwhile, the TON Foundation had previously announced a collaboration with HashKey Group to expand fiat on- and off-ramps for Telegram wallet users in the Asia Pacific region. The partnership aimed to leverage HashKey’s expertise in digital assets and support incubation for TON blockchain projects while attracting new mini-app developers to the ecosystem.
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