Curve Finance and the TON Foundation have launched a joint hackathon to accelerate the development of their Stable Swap Project on the TON blockchain.
Curve Finance and TON Foundation are collaborating to accelerate the development of Curve’s Stable Swap Project on the TON blockchain through a joint hackathon. The initiative aims to enhance stablecoin trading on the network.
The decentralized exchange (DEX) announced the collaboration on Wednesday, highlighting the integration of Curve’s constant-function market maker (CFMM) technology within the TON blockchain. The CFMM technology is designed to optimize swap processes and support yield-bearing token exchanges.
The hackathon will run until October 17 and is expected to attract several developer teams dedicated to improving the user experience (UX) and adoption of stablecoin trading on the TON network. According to a press release on October 11, over 70 teams from the TON community have expressed interest in participating.
These teams will be tasked with creating prototypes, demonstrating the integration of Curve’s Stable Swap Project on TON, and showcasing their solutions for optimizing stablecoin trading on the network. A panel consisting of Curve Finance founder Michael Egorov, representatives from TON, and other Web3 experts will evaluate the teams.
The top three teams will be offered the opportunity to continue working with Curve and TON on this initiative, further contributing to the development and adoption of stablecoin trading on the TON blockchain.
The collaboration marks a significant move for Curve Finance as it expands its influence within the decentralized finance (DeFi) space. This partnership comes following a turbulent period for Curve, during which Egorov faced substantial liquidations, leading to a 30% drop in the price of the Curve DAO token (CRV). The liquidations impacted various liquidity pools in the DeFi ecosystem.
Founded in 2020, Curve Finance has attracted funding from major investors including Binance Labs and Platinum Capital VC. The DEX remains focused on optimizing stablecoin trading through its automated market maker platform.
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