The TON Foundation, in collaboration with Curve Finance, is launching a stable swap project on the TON blockchain. The project aims to improve user experience and trading efficiency for stablecoins.
TON-Based Stable Swap Project
The TON-based stable swap project seeks to simplify and enhance the efficiency of stablecoin trading. It utilizes Curve's CFMM formula, a type of automated market maker, to ease the swapping process and minimize price impact. Michael Egorov, the founder of Curve Finance, will serve as an advisor to the development team, ensuring the integration of Curve’s stable swap formula. As part of this collaboration, eligible users will receive airdrops of the project's native tokens.
USDT Usage on TON
The project's launch is timely, as USDT usage on TON has been rapidly increasing. The USDT stablecoin was launched on TON just four months ago and now has a net circulation exceeding $668 million, marking the fastest adoption rate for the asset to date. The TON Foundation states that its partnership with Curve will make USDT trading even more accessible, further sparking growth in the network. Recent reports indicate that 26% of Toncoin investors are currently in profit, a substantial increase from 9% two weeks ago.
Conclusion
The TON-based stable swap project, launched in collaboration with Curve Finance, is set to enhance the liquidity and demand for stablecoin trading, contributing to the broader adoption of the TON blockchain.
The launch of the TON-based stable swap project in collaboration with Curve Finance promises significant improvement in stablecoin trading capabilities and increased demand for the TON network.
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