Curve Finance and TON Foundation have launched a joint hackathon aimed at supporting the development of the Stable Swap Project on the TON blockchain.
Hackathon Focused on Stable Swap on the TON Blockchain
The decentralized exchange Curve Finance and the TON Foundation have announced a collaborative hackathon focused on creating a new Stable Swap Project on the TON blockchain. According to a press release from October 11, this initiative, running until October 17, will gather development teams interested in improving stablecoin trading and enhancing the user experience within the network.
Hackathon participants will have the opportunity to work with Curve's automated market maker solution, designed to optimize token swap processes and boost trading yields. The main goal is to facilitate stablecoin trading on the TON blockchain and encourage faster adoption of this technology.
Curve Finance Looking for Blockchain Talent
Curve Finance noted that more than 70 teams from the TON community have already shown interest in joining the hackathon. A panel of judges, including Curve founder Michael Egorov and representatives from TON, will evaluate the teams based on their solutions to specific development challenges. The top three teams will have the opportunity to continue working with Curve and TON Foundation.
A Challenging Period for Curve Finance
This partnership follows a turbulent time for Curve Finance, during which its founder, Michael Egorov, experienced liquidations on several positions, causing the price of the CRV token to drop by 30%. This decline had a ripple effect throughout the ecosystem, as CRV serves as a trading pair and collateral in various liquidity pools. For instance, an address on the Frax Lend protocol faced $3.3 million in liquidations due to the falling CRV price.
Curve Finance History
Founded in 2020, Curve Finance has attracted significant investment from major players such as Binance Labs and Platinum Capital VC. The platform focuses on improving stablecoin trading through its efficient automated market maker, making it a key player in the DeFi ecosystem.
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