Curve Finance and TON Foundation have launched a joint hackathon to advance stable swap projects on the TON blockchain.
Decentralized cryptocurrency exchange Curve Finance and the TON Foundation have announced a joint hackathon aimed at developing new stable swap projects on the TON blockchain.
According to an October 11th press release, the initiative is scheduled to last until October 17th and will bring together a team of developers interested in trading stablecoins and improving the user experience on the network. During the hackathon, participants will leverage Curve’s constant function market maker solution designed to optimize the swap process and facilitate high-yield token exchanges.
“The ultimate goal is to make stablecoin transactions on the TON network more accessible and increase the pace of adoption.”
curve finance
Curve is looking for blockchain talent to work on TON
Curve Finance also noted that at least 70 teams in the TON community have already expressed interest in participating, although specific names were not disclosed. A panel of judges, including Curve founder Michael Egorov and representatives from TON, will evaluate teams based on their solutions to specific development tasks related to the project. The top three teams will have the opportunity to continue their collaboration with Curve and TON.
This collaboration comes after a tumultuous period for Curve, with Egorov experiencing a large-scale liquidation across multiple positions and the price of its (CRV) token dropping by 30%. These liquidations had a ripple effect throughout the ecosystem, as CRV serves as trading pairs and collateral for various liquidity pools. For example, addresses on the Frax Lend protocol faced $3.3 million in liquidations due to the drop in CRV prices.
Founded in 2020, Curve Finance has received funding from prominent investors such as Binance Labs and Platinum Capital VC with the aim of powering efficient trading of stablecoins through an automated market maker platform, according to PitchBook data. We are raising a large amount of funds.
