TON x Curve Stableswap Winners: Torch and Crouton

Since the start of 2024, TON has made significant headway in the DeFi space. Crucial for this growth has been the introduction of USDT, allowing for the establishment of major liquidity pools and laying the groundwork for further DeFi primitives like lending solutions and AMM protocols. 

In collaboration with Curve Finance, we organized a stableswap competition that attracted 70 teams, resulting in two winning projects: Torch Finance and Crouton Finance. These projects will leverage Curve’s advanced CFMM technology and build stable swap mini apps on TON blockchain, guaranteeing smooth and efficient exchanges.

TON Foundation will pledge $150,000 to back these projects for audits and initial liquidity, while Curve will serve as an advisor and grant access to the CFMM formula. Moreover, our winning projects have secured $2.3 million in investments from seven venture funds including: 

▪️ TON Ventures
▪️ DWF Labs
▪️ GSR
▪️ Kenetic Capital
▪️ Foresight
▪️ Bitrue Ventures
▪️ Paper Ventures

Now is the time for DeFi teams and investors to join the TON Ecosystem — 2024 will be the year of DeFi on TON!

To learn more read the full blog article, penned by TON DeFi Lead Vlad Degen!