- TON Foundation partners with Curve Finance to launch a TON-based stablecoin swap project.
- The stablecoin swap will use Curve’s CFMM technology to minimize volatility and slippage for TON stablecoin transactions.
- The project will be developed by an independent team overseen by Curve founder Michael Egorov.
TON Foundation has partnered with Curve Finance, the decentralized exchange (DEX), to develop a TON-based stablecoin swap service.
In a blog post announcing the collaboration, the TON Foundation, a nonprofit organization dedicated to advancing the Open Network (TON) blockchain, described the move as a significant step toward more accessible stablecoin trading.
The new TON-based stable swap aims to improve the trading experience for stablecoin swaps on the Open Network by integrating Curve Finance’s Constant Function Market Maker (CFMM) technology.
Reducing slippage and price volatility for stablecoin trades
This partnership is notable because projects that wish to use Curve’s technology typically need to obtain a license.
By incorporating Curve’s CFMM, which is known for reducing price impact on swaps between stablecoins and like-kind assets, the TON stable swap should deliver more efficient exchanges with fewer frictions for users.
The integration is expected to boost liquidity and lower price volatility and slippage for stablecoin trades across the TON ecosystem. With this innovative stable swap solution, the TON Foundation aims to drive broader adoption of its blockchain while accelerating growth in stablecoin trading.
Curve’s founder to supervise project development
The project will be developed by an independent team chosen through a transparent selection process and will be overseen by Curve founder Michael Egorov, who will serve as an advisor.
Egorov will support the selected team on protocol mechanics and growth strategies. The independent team will also be granted the right to implement Curve’s CFMM formula within the new stable swap project, and a portion of the project’s tokens will be airdropped to eligible users.
The TON-based stable swap initiative represents a meaningful milestone in the expansion of both platforms, underscoring the increasing importance of stablecoins and low-slippage trading within the evolving DeFi landscape.