Two leading altcoins have announced a strategic partnership to develop a new platform. TON Foundation revealed that it is teaming up with Curve Finance (CRV) to launch a stablecoin swap platform on the Toncoin (TON) blockchain.
Aims to Enhance User Experience and Efficiency
The partnership aims to improve the user experience and increase the efficiency of stablecoin trading within the TON ecosystem. According to an announcement on TON’s Telegram channel, the project will utilize Curve’s constant function market maker (CFMM) technology to facilitate stablecoin swaps, reduce price slippage, and optimize the trading experience for users.
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Vlad Degen, TON Foundation’s DeFi leader, emphasized the significance of this collaboration:
“You will soon see more stablecoins and assets from other chains, like Bitcoin, on TON. A native CFMM is essential for seamless interaction, and partnering with one of the industry’s leading market makers was a natural choice for incubating this new project.”
Growing Demand for Stablecoins on TON
This collaboration comes at a time when demand for stablecoins on the TON blockchain is rapidly increasing. Since the launch of USDt on TON, the net circulation has surged to approximately $730 million in just four months. The TON Foundation believes that this new stablecoin swap initiative will meet the rising demand, boost liquidity, and accelerate the adoption of TON’s Web3 ecosystem.
The project will be managed by an independent team selected through a transparent process involving the TON community. Additionally, Michael Egorov, founder of Curve Finance, will provide advisory support to the team during the platform’s development.
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