The Open Network (TON) Foundation announced a strategic partnership with Curve Finance, a leading decentralized exchange (DEX). This collaboration focuses on launching a new stablecoin swap project on the TON blockchain, aiming to enhance stablecoin trading and boost liquidity across the network.

This partnership will combine the expertise of both TON and Curve Finance, reportedly setting the stage for more efficient and accessible stablecoin transactions.

TON and Curve Finance Collaboration

The primary goal of this collaboration is to simplify stablecoin swaps, ensuring smoother trades with minimal price slippage. By leveraging Curve’s advanced technology, TON aims to create a seamless and efficient environment for stablecoin trading on its blockchain.

Key features of the TON-Curve Finance initiative include:

• Stable Swap Project: The new project will be built on Curve’s CFMM technology, known for its ability to maintain low slippage during trades. This feature will benefit users by providing efficient and cost-effective stablecoin transactions.

• Independent Development Team: The collaboration will involve an independent development team selected by both TON and Curve Finance. This team will work closely with both organizations to ensure the project aligns with community needs and standards.

• Michael Egorov’s Advisory Role: Curve Finance’s founder, Michael Egorov, will serve as an advisor to the project, bringing his vast experience in protocol mechanics and strategy to the table. 

• Airdrop for veCRV Holders: To further engage the community, the initiative will airdrop a portion of the native tokens from the new project to veCRV holders, ensuring that early supporters are rewarded for their contributions.

Meeting the Growing Demand for Stablecoins on TON

Since the launch of USDT on TON, the token has achieved a net circulation of $720.6 million within just four months. This growth shows the increasing appetite for stablecoins within the TON ecosystem.

However, Bitget's new report on The Open Network (TON) shows that mini-apps such as Hamster Kombat (HMSTR) and Catizen (CATI) have been the biggest draws for Telegram's blockchain ecosystem. 

Hamster Kombat traffic is mainly concentrated in Russia (22.18%) and India (19.63%), the report states.