TON Foundation and Curve Finance to Launch New Stablecoin Trading Project

by Giorgi Kostiuk

2 years ago

Made with AI

CFMM Integration on TON
Project Selection Process
The Stablecoin Curve

TON Foundation and Curve Finance announced a collaboration aimed at improving user experience and stablecoin trading on the TON blockchain.

CFMM Integration on TON

According to a press release, the CFMM formula allows stablecoin swaps with reduced price volatility and lower slippage, resulting in more efficient asset exchanges. Currently, projects seeking to use Curve Finance’s CFMM technology must acquire a license, making stable swaps on TON through the new project a significant aspect of the partnership.

The collaboration with TON Foundation aims to improve the stablecoin trading experience on TON, making TON-based trading more accessible and accelerating blockchain adoption.Vlad Degen, DeFi lead at TON Foundation

Project Selection Process

The TON Foundation and Curve Finance will be selecting an 'independent team' to develop the stable swap project through a 'public and transparent' process. The selected team will have permission to implement Curve Finance’s stable swap formula into their project, with the new project’s tokens airdropped to qualified users.

Michael Egorov, Founder of Curve Finance, will act as advisor to the selected development team, assisting with protocol mechanics and the project’s growth strategy.Vlad Degen, DeFi lead at TON Foundation

The Stablecoin Curve

In addition to this latest partnership, Curve Finance made a shift toward its native stablecoin crvUSD on June 28 in a fee distribution mechanism change from the 3cr token. The transition aimed to improve the utility of crvUSD and the integration of the stablecoin into Curve Finance’s ecosystem for incentivizing users.

Users will now obtain fees in a dollar-denominated stablecoin, a simpler and more stable process.Michael Egorov, Founder of Curve Finance

The partnership between TON Foundation and Curve Finance aims to enhance the stablecoin trading experience on the TON blockchain, making this technology more accessible and appealing to users.

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