Curve Finance developers and TON Foundation will create a platform for trading stablecoins on the Telegram Open Network (TON) blockchain.

“The AMM mechanism from Curve will simplify the exchange of stablecoins, improve the user experience, and minimize price impact,” the project developers stated.

Mikhail Egorov, the founder of the DEX, will act as an advisor for the project.

Part of the tokens from the new project will be distributed among veCRV holders.

According to the press release, four months after the launch, the available USDT volume in TON reached $729.9 million. This new initiative is designed to meet the growing demand, increase liquidity, and enhance the popularity of the Web3 ecosystem of the network.

“This initiative will satisfy growing demand, increase liquidity, and improve the popularity of the Web3 ecosystem on the network,” the press release stated.

It’s worth noting that in July, TON developers and Tonkeeper implemented support for gas-free transactions.