- TON Foundation partners with Curve Finance to launch a stable swap project, aiming to enhance stablecoin trading efficiency.
- Curve’s CFMM tech will minimize price impact, making stablecoin swaps smoother and more accessible on the TON blockchain.
- Toncoin’s market shows positive growth, with 26% of investors profitable and a strong trading volume despite a slight price drop.
The TON Foundation has announced a collaboration with Curve Finance to launch a TON-based stable swap project. Constant Function Market Maker (CFMM) technology from Curve Finance is being used in this endeavor to improve stablecoin trading. Expected to lessen price impact and enhance user experience, the project will leverage Curve’s cutting edge technology to streamline stablecoin swaps.
Impact of CFMM Technology on Trading
Curve Finance’s CFMM technology is renowned for minimizing price volatility and slippage during stablecoin transactions. Vlad Degen, DeFi lead at TON Foundation, highlighted that integrating this technology will make trading more accessible, especially for users less familiar with the ecosystem. The CFMM technology is particularly effective in stabilizing asset exchanges, which is crucial for a seamless trading experience.
Michael Egorov, the founder of Curve Finance, will serve as an advisor for the new project. His expertise will help guide the development team in implementing Curve’s stable swap formula. The partnership aims to make TON-based trading more efficient and accessible.
A transparent process will be used to select an independent team to develop the project. Additionally, the new project’s tokens will be airdropped to qualified users, further promoting its adoption.
Growing Demand and Positive Market Trends
This collaboration comes at a time of increasing demand for stablecoins on the TON blockchain. USDT on TON has recently surpassed $729.9 million in net circulation, reflecting growth and user interest. This rise aligns with broader adoption patterns within the TON ecosystem, where liquidity and trading volumes are expanding rapidly.
The stable swap initiative is expected to bolster the trading experience and contribute to the growing stablecoin infrastructure on TON. This development will likely enhance user participation in decentralized finance (DeFi) activities on the network. As TON continues to integrate USDT across numerous platforms, it has seen a notable increase in transaction volume.
Moreover, Toncoin, the native asset of TON, is showing positive performance. According to a recent CNF report, 26% of Toncoin investors are currently profitable, an increase from 9% two weeks ago.
Toncoin is currently trading at approximately $5.52, with a daily trading volume of $227.07 million. This active market, despite a modest price drop of 0.90%, indicates growing trust and a strengthening market sentiment within the TON ecosystem.
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