TON and Curve Finance partner on a stablecoin exchange initiative

The TON Foundation, a non-profit organization supporting the development of The Open Network (TON) blockchain, has announced its partnership with Curve Finance, a decentralized exchange (DEX).

Both entities will work together to "incubate a new stablecoin exchange project based on TON," aimed at enhancing user experience and stablecoin trading on the TON blockchain.

This stablecoin exchange project will be powered by Curve Finance's technology, known as the Constant Function Market Maker (CFMM), recognized for its ability to minimize price impact in stablecoin swaps and other similar assets.

In a Q&A session with Cointelegraph, Vlad Degen, head of DeFi at the TON Foundation, explained the implications of integrating CFMM technology.

On June 28, Curve Finance transitioned to its native stablecoin, crvUSD, as part of a shift in the fee distribution mechanism from the 3cr token.

The goal of this transition was to enhance the utility of crvUSD and its integration within the Curve Finance ecosystem to incentivize users.

At the time, Egorov explained to Cointelegraph that users "will now receive fees in a dollar-denominated stablecoin," representing a simpler and more stable process.

Do you think this news will cause TON’s price to rise in the medium term? What do you think its impact will be?