- TON and Curve’s collaboration is to improve the effectiveness of trading stablecoins on the TON blockchain.
- The project responds to the increase in TON’s stablecoin traffic, with the circulation of USDT being more than $729 million.
- Community engagement is considered by airdrops, as well as the involvement of an advisor, the founder of Curve.
Curve Finance is collaborating with the TON Foundation on a new initiative to integrate stablecoin swaps on the TON blockchain. This is aimed at increasing the effectiveness and convenience of stablecoin transactions. The partnership is expected to offer an enhanced liquidity level and lower price plunge to provide a better user experience for stablecoin transactions on the platform.
Leveraging Curve’s CFMM Technology
The foundation of this project, which is integrated with Curve Finance, is the constant-function market maker (CFMM). Popularised in DeFi, the technology will be incorporated into the TON blockchain to improve the swap of stablecoins. Thus, using this technology, the platform will provide trade at more favorable prices, which is always a concern in the stablecoin market to avoid price slippage. Integrating CFMM to TON is a significant step in improving DeFi activities on the network.
The decision to adopt the changes to the stablecoin swaps emerged due to the rising use of a stablecoin in the TON blockchain. Since launching USDT on TON recently, the platform has witnessed the emergence of stable coins with a net circulation of funds above $729.9 million. Speaking with Vlad Degen, the DeFi lead at the TON Foundation, I learned that the advancement of the USDT is beyond the current system to control stablecoin trades.
Project Development and Community Participation
An independent development team will be involved in the project and the TON Foundation will select this team. The foundation made sure that all the processes that were being made known to the populace were fully disclosed together with their participation. On a similar note, Michael Egorov, the founder of Curve Finance, will be an advisor to the platform and he will be focusing on the mechanics of protocol and the possibility of directions for future expansion of the platform.
Among the features of the development of the project, users can become recipients of an airdrop of tokens of the project, including veCRV.
The stablecoin swap platform, which is going to complement TON’s ecosystem, is likely to expand the opportunities of traders; at the same time, it may stimulate the use of decentralized financial instruments.TON Curve partnership can, therefore, be viewed as evidence of a growing trend of launching new services and products in the sphere of DeFi to meet the demands of stablecoin traders.
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