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Curve Finance and the TON Foundation have teamed up to host a hackathon focused on their Stable Swap Project, which aims to enhance stablecoin trading on the TON blockchain. Running until October 17, the event invites developer teams to participate in improving the trading experience and efficiency of stablecoins on the network.
Participants will utilize Curve’s constant-function market maker solution, which is designed to optimize swap processes and enable yield-bearing token exchanges. This collaboration seeks to foster innovation in the decentralized finance (DeFi) space and improve the overall functionality of stablecoin transactions on TON.
“The end goal is to make stablecoin trading on the TON network more accessible and improve the pace of its adoption.”
Curve Finance
Curve seeks blockchain talents to work on TON
Curve Finance has announced that at least 70 teams from the TON community have shown interest in participating in the hackathon for their Stable Swap Project, though specific team names have not been disclosed. A judging panel, featuring Curve’s founder Michael Egorov and representatives from TON, will evaluate the teams based on their solutions to development tasks. The top three teams will have the chance to further collaborate with Curve and TON.
This initiative comes at a challenging time for Curve, as Egorov has faced significant liquidations across multiple positions, contributing to a 30% decline in the price of the Curve DAO (CRV) token. These liquidations affected the broader ecosystem, given that CRV is often used as collateral and in trading pairs across various liquidity pools. For instance, a specific address on the Frax Lend protocol experienced $3.3 million in liquidations due to falling CRV prices.
Founded in 2020, Curve Finance has attracted significant investment from prominent investors, including Binance Labs and Platinum Capital VC, with a focus on enhancing stablecoin trading efficiency through its automated market maker platform.
