The Open Network Foundation, the platform behind the TON blockchain, has announced an exclusive partnership with GMX, a prominent decentralized perpetual exchange. Through this strategic collaboration, TON and GMX aim to expand the boundaries of the DeFi sector with high-frequency trading and innovation.
TON Foundation and GMX Plan Efficient Trading to Users
TON Foundation’s collaboration with GMX focuses on benefiting from the latter’s expertise in low-slippage and efficient trading. In addition to this, the viable fee structures of GMX solidify the trading infrastructure of the TON blockchain. As included in this partnership, both platforms are conducting a developer contest for participants to create innovative perpetual DEXs.
A key objective of building the respective DEXs is to offer high-frequency trading along with maximizing the performance and efficiency. Apart from that, the DEXs would also deliver optimized trading fees to give an unparalleled consumer experience with minimized costs. The companies invite all the in-development and current projects operating in the TON network. Participants will contend for support from the TON Foundation and advisory backing from GMX for the enhancement of their projects.
Launching Developer Competition for Cutting-Edge Solutions
GMX’s Communication Coordinator “Jone Zee” asserted that the platform creates high-performance and accessible DeFi ecosystems. As per the executive, the GMX DEX has become a reliable company for numerous traders, facilitating a per-week trading volume of billions. Hence, it serves as a chief player in the case of DeFi infrastructure for Avalanche and Arbitrum. The developer competition in collaboration with the TON Foundation promotes cutting-edge design solutions to be created by the builders.
Moreover, TON Foundation’s DeFi lead Vlad Degen claimed that the partnership with GMX reflects an initiative to expand the DeFi-related possibilities. Furthermore, he added that the developer competition lets developer display their technical expertise and creativity. Based on the success of the former partnership with Curve, the platform looks to unlock cutting-edge developments on TON with this endeavor.
