TON Foundation Partners with Curve Finance for Stablecoin Trading

The TON Foundation has announced a strategic partnership with Curve Finance to develop a new stablecoin trading platform on The Open Network (TON) blockchain. 

This collaboration aims to enhance stablecoin swaps by leveraging Curve's advanced Constant Function Market Maker (CFMM) technology, which is designed to minimize slippage and improve liquidity for traders.

The initiative comes at a time of significant growth for stablecoins on the TON network, particularly following Tether's integration of its USDT stablecoin in April 2024. Since then, USDT's net circulation on TON has surged to approximately $730 million within just four months, highlighting the increasing demand for stablecoin transactions among users.

The new platform will facilitate smoother and more efficient trading experiences for users, making it easier to swap stablecoins with minimal price impact. Michael Egorov, founder of Curve Finance, will serve as an advisor to the independent development team tasked with implementing this project. Additionally, the initiative will reward early supporters through an airdrop of native tokens to eligible veCRV holders.

As the TON ecosystem continues to evolve, this partnership with Curve Finance is expected to bolster liquidity and further integrate stablecoins into the growing decentralized finance landscape on TON, ultimately supporting broader adoption and usage within the network.