Curve Finance and TON Join Forces to Find the Next DeFi Leaders

Last Updated on November 5, 2024

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An investor's analyzing the Curve DAO Token (CRV) coin on screen. Source: maurice norbert - stock.adobe.com

Key Takeaways:

  • Strategic Partnership: TON blockchain has partnered with Curve Finance to drive DeFi innovation in 2025, with a competition to foster early-stage DeFi projects on TON.
  • Focus on DeFi Primitives: TON is building foundational DeFi tools, including lending, staking, and cross-chain bridges with BTC and EVM, to support asset and stablecoin integration.
  • Incentive Programs: Winning DeFi projects from the competition will receive $150,000 in support and liquidity for stablecoin pools, with $500,000 more planned for enhancing stablecoin swaps and cross-chain functionality.

The TON blockchain is set to make 2025 a breakthrough year for decentralized finance (DeFi), partnering with Curve Finance to fuel early innovation.

Together, they’re fostering foundational DeFi “primitives” on TON, such as lending, liquidity staking, and Constant Product Market Maker protocols, with an aim to create cross-chain bridges to major networks like Bitcoin (BTC) and Ethereum (EVM).

This will support stablecoin integration and new assets, enhancing TON’s DeFi ecosystem.

A recent competition, co-hosted by TON and Curve, encouraged DeFi developers to use Curve’s Constant Functional Market Maker (CFMM) technology, which offers greater price stability and reduced slippage for swaps.

From over 70 participating teams, two, Torch Finance and Crouton Finance, emerged as winners, each receiving $150,000 for audits, liquidity support, and stablecoin pool incentives.

The liquidity from these projects will join the CrossCurve protocol, led by Curve founder Michael Egorov, to consolidate liquidity across Curve pools.

Looking ahead, TON and Curve plan to release $500,000 in incentives to boost stablecoin exchanges and cross-chain DeFi operations across TON and EVM-compatible ecosystems, laying a strong foundation for DeFi growth on TON.

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