On September 18, the TON Foundation, developer of the TON blockchain, announced a strategic partnership with Curve Finance, the leading decentralized finance (DeFi) project on Ethereum. The collaboration aims to launch a new Stable Swap project on The Open Network (TON), leveraging Curve’s advanced Constant Function Market Maker (CFMM) technology to enhance the efficiency of stablecoin transactions.
While the project’s official name remains undisclosed, the partnership promises significant improvements to the user experience on the TON network. This development follows TON’s rapid growth in stablecoin supply, with over $700 million worth of USDT circulating on the network. It is the fastest-growing blockchain for stablecoin adoption in just four months—surpassing Ethereum and Solana.
The surge in transaction demand on the TON network can be partly attributed to the popularity of mini-game apps on Telegram, particularly tap-to-earn games, which have driven network activity since early 2024.
The new Stable Swap project will be developed by an independent team, selected through a transparent process. Additionally, both TON Foundation and Curve Finance hinted at the possibility of an airdrop for eligible users, offering a potential opportunity for airdrop hunters.
Curve Finance founder Michael Egorov will serve as an advisor for the project, providing strategic input and guidance.
Curve’s native token, CRV, has seen a nearly 3% rise over the past 24 hours, trading at around $0.27. TON’s token price has also increased by 0.2%, currently standing at approximately $5.50, though it has not yet fully recovered from recent market fluctuations.
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