- TON & Ethena launch USDe and tsUSDe on Telegram, enabling access to yield-bearing stablecoins for 1B+ users.
- tsUSDe holders in non-custodial wallets get a 10% APY boost in TON tokens, capped at 10K tsUSDe per user until end of 2025.
- USDe gains cross-chain support via LayerZero and Stargate, boosting DeFi access and liquidity across TON’s global ecosystem.
The Open Network (TON) and Ethena Labs have partnered to debut the synthetic dollar, USDe, and its yield-earning version, tsUSDe, in the Telegram ecosystem. This integration serves as a strategic move to give Telegram’s global billion-plus user base access to a decentralized and accessible dollar savings vehicle.
The partnership will see USDe launch across key platforms on TON’s infrastructure. Other examples of wallets are TON Space, Tonkeeper, MyTonWallet and Telegram’s Wallet app (custodial). This integration allows users to claim USDe from supported decentralized exchanges (DEXes) such as Ston.fi and Stargate Finance, with the ability to stake the asset to receive tsUSDe that produces yield.
Eligible holders of tsUSDe in non-custodial wallets will receive an extra 10% annual percentage yield (APY) paid weekly in TON tokens to promote adoption. The promotional yield boost affects up to 10,000 tsUSDe per user and is valid until the end of 2025.
Expanded Ecosystem Access and DeFi Utility
tsUSDe is meant to facilitate more DeFi activity on the TON blockchain. Besides wallet integrations, USDe and tsUSDe are backed by various DeFi apps for users to join the saving, lending, and trading products with stable assets.
Users will interact with USDe without deep crypto knowledge via TON Space, which can be accessed right from Telegram search and other mini-app-based wallets. In addition, tsUSDe has also been tailored to work as part of TON’s DeFi architecture, which is in line with the platform’s aim to boost on-chain financial engagement across emerging economies in Asia, Africa, and Latin America.
In addition, within its roadmap, Ethena intends to launch a ‘USDT Earn’ vault inside Telegram’s custodial wallet. Users will be able to stake their Tether (USDT) to earn yield based on USDe’s staking returns, providing a new avenue for gaining higher dollar-denominated yields from within a well-known interface.
Future Developments and Cross-Chain Infrastructure
The initiative will also leverage LayerZero’s cross-chain messaging infrastructure to allow users to bridge USDe from other blockchains to TON via Stargate Finance. This addition of cross-chain functionality aims to improve accessibility to USDe holders and facilitate liquidity on TON.
TON and Ethena have stated that they will roll out more product launches throughout May. Pending regulatory approvals, payment solutions such as a debit card and potential Apple Pay integration may be included. This is an effort to allow users to spend tsUSDe in real-world use cases and keep access to yield. Through Ethena, TON and participating wallet providers will provide updates and eligibility criteria for the promotional campaign.
