TON Foundation Partners with GMX to Accelerate High-Performance DeFi Innovation

The TON Foundation, a non-profit organization dedicated to advancing the growth of the TON blockchain, has announced a strategic collaboration with GMX, a leading decentralized perpetual exchange and spot trading platform. This partnership aims to push the boundaries of decentralized finance (DeFi) by fostering innovation in high-frequency trading and transaction fee optimization within the TON ecosystem.

Advancing Trading Infrastructure on TON

Through this collaboration, the TON Foundation plans to harness GMX’s expertise in low-slippage trading and competitive fee structures to enhance TON Blockchain’s trading infrastructure. The focus is on unlocking new trading opportunities and elevating the performance and efficiency of DeFi applications within the TON ecosystem.

To catalyze innovation, the two organizations are launching a developer competition. The competition invites developers to design and create perpetual decentralized exchanges (DEXs) with two primary objectives:

• High-frequency trading (HFT) to maximize efficiency and performance.

• Optimized trading fees to offer a seamless user experience and lower transaction costs.

This initiative aims to engage developers, both from within the TON ecosystem and beyond, to explore groundbreaking solutions that will shape the future of DeFi on the blockchain.

Competition Details and Incentives

The TON Foundation and GMX are offering valuable incentives for the competition, including:

• Advisory support from GMX to help refine and enhance project ideas.

• Backing from the TON Foundation to support the development and implementation of winning solutions.

Developers, founders, and users interested in participating can submit their applications within the next two weeks. The competition will last for two months, providing ample time for participants to design innovative projects that meet the competition's goals.

Statements from Key Stakeholders

Jone Zee, Communications Coordinator at GMX, emphasized the importance of the partnership in pushing the boundaries of decentralized finance. He stated:

“GMX is dedicated to creating an accessible, high-performance decentralized finance ecosystem. Today, the GMX DEX is trusted by thousands of traders every day, facilitating billions in weekly trading volume, and serving as a key pillar of the DeFi infrastructure on Arbitrum and Avalanche. We’re excited to bring this expertise to TON Blockchain by partnering with TON Foundation to launch this developer competition. We look forward to the innovative design solutions that the participating builders will create.”

Vlad Degen, DeFi Lead at TON Foundation, also expressed enthusiasm for the collaboration, stating:

“We’re thrilled to collaborate with GMX as we continue to push the boundaries of what’s possible in DeFi. This competition is an opportunity for developers to showcase their creativity and technical expertise. Inspired by the success of our earlier collaboration with Curve, we believe this initiative will unlock groundbreaking innovations on TON.”

A Vision for the Future of DeFi on TON

The TON Foundation’s partnership with GMX marks an important step in the continued growth of the TON blockchain as a hub for decentralized finance. With the launch of this developer competition, both organizations aim to empower developers to design next-generation DeFi solutions that will improve the speed, efficiency, and user experience of decentralized trading on the TON network.

This collaboration is expected to drive further adoption and innovation, positioning TON Blockchain as a competitive player in the ever-evolving DeFi landscape.