The Open Network (TON) Foundation announced a strategic partnership with Curve Finance, a leading decentralized exchange (DEX). This collaboration focuses on launching a new stablecoin swap project on the TON blockchain, aiming to enhance stablecoin trading and boost liquidity across the network.
TON and Curve Finance Collaboration
The primary goal of this collaboration is to simplify stablecoin swaps, ensuring smoother trades with minimal price slippage. By leveraging Curve’s advanced technology, TON aims to create a seamless and efficient environment for stablecoin trading on its blockchain.
Project Features
Key features of the TON and Curve Finance initiative include: - **Stable Swap Project:** The new project will be built on Curve’s CFMM technology, known for its ability to maintain low slippage during trades. This feature will benefit users by providing efficient and cost-effective stablecoin transactions. - **Independent Development Team:** The collaboration will involve an independent development team selected by both TON and Curve Finance. This team will work closely with both organizations to ensure the project aligns with community needs and standards. - **Michael Egorov’s Advisory Role:** Curve Finance’s founder, Michael Egorov, will serve as an advisor to the project, bringing his vast experience in protocol mechanics and strategy to the table. - **Airdrop for veCRV Holders:** To further engage the community, the initiative will airdrop a portion of the native tokens from the new project to veCRV holders, ensuring that early supporters are rewarded for their contributions.
Growing Demand for Stablecoins on TON Network
Since the launch of USDT on TON, the token has achieved a net circulation of $720.6 million within just four months. This growth shows the increasing appetite for stablecoins within the TON ecosystem. However, Bitget's new report on The Open Network (TON) shows that mini-apps such as Hamster Kombat and Catizen have been the biggest draws for Telegram's blockchain ecosystem. Hamster Kombat traffic is mainly concentrated in Russia (22.18%) and India (19.63%), the report states.
The partnership between TON Foundation and Curve Finance aims to enhance the efficiency and accessibility of stablecoin trading, potentially attracting new users and improving the liquidity of the TON network. Considering current trends and rapid ecosystem development, this collaboration holds significant potential.
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