TON Foundation Partners with Curve Finance to Incubate New Stable Swap Project

The partnership aims to bring Curve Finance's CFMM technology to TON, optimizing stablecoin swaps with lower price volatility and slippage.

TON Foundation, the organization behind The Open Network blockchain with the Toncoin (TON) cryptocurrency, recently announced a partnership with the leading DeFi DEX Curve Finance.

The partnership between the two projects aims to incubate a new stable swap project on the TON platform, thereby improving user experience, increasing liquidity, and promoting stablecoin trading on The Open Network blockchain.

The new stable swap project on TON is planned to use Curve Finance's Constant Function Market Maker (CFMM) technology, which is known for its ability to minimize price impact on stablecoin and equivalent asset swaps.

TON Foundation’s move comes as stablecoin USDT on The Open Network blockchain has surpassed $700 million in circulation in just over four months — USDT’s fastest-ever growth in circulating supply on a blockchain — indicating a growing demand for stablecoins on the ecosystem.

With more assets being developed on TON every day, Curve Finance’s partnership will meet this growing demand by providing a better stablecoin trading experience and minimizing price impact, while increasing liquidity and contributing to wider adoption on TON.
TON Foundation and Curve Finance will select “an independent team” to develop the stable swap project through an “open and transparent” process.

The selected team will be “allowed to implement Curve Finance’s stable swap formula into their project,” with a portion of the new project’s tokens airdropped to eligible users.

Michael Egorov, founder of Curve Finance, will act as an advisor to the selected development team, providing support on protocol mechanics and project development strategy.

The TON ecosystem has recently become the center of attention, mainly thanks to Tap-to-Earn games such as Notcoin, Hamster Kombat, Catizen, HashKey's DejenDog... all built on the TON blockchain and accessible via Telegram as a mini-app
Despite the continuous record-setting activities on the TON network, the TON price has not yet recovered to the price range before the incident when Telegram CEO Pavel Durov was arrested in France. In the last 24 hours, TON has increased by 2.5%, trading around the $5.5 area.