Affluent Launches Telegram’s First Native DeFi Lending App

Affluent, a mini app built on The Open Network (TON), has launched as Telegram’s first native decentralized finance (DeFi) lending application. This new app offers users lending pools and crypto yield strategies, all integrated within the Telegram interface. The project, co-founded by Justin Hyun, a former director of the TON Foundation, and Hyung Lee of DeFi R&D group B-Harvest, aims to transform Telegram into a comprehensive financial super app.

The launch of Affluent marks a significant step in bringing DeFi directly into the messaging ecosystem of Telegram, which has over 900 million users. By embedding DeFi functionality directly into the platform, Affluent addresses many of the usability challenges that have hindered broader DeFi adoption. Users can now access lending and yield products without leaving the Telegram app, making the process more streamlined and user-friendly.

Affluent targets both retail savers and institutional liquidity providers, offering simplified crypto savings for retail users and deep liquidity access for institutional players. The project aims to bring "real, trustless asset management to Telegram’s billion-user ecosystem," positioning the app as a "smart bank for crypto." This strategy mirrors the success of super apps like WeChat, which seamlessly blend messaging, payments, and financial services in a single user environment.

To boost user engagement, Affluent has introduced a points program. The first action incentivized by this program is depositing into the TON multiply vault. Future plans include the launch of a USDT Multiply Vault, strategy vaults composable with various assets, and the ability to make payments directly from vault tokens. These features are designed to enhance the user experience and encourage more active participation in the DeFi ecosystem within Telegram.

Although Telegram distanced itself from TON after regulatory issues in 2020, the platform formally backed TON in September 2023. This endorsement has accelerated development across the TON ecosystem, with Affluent now marking a notable step forward in integrating DeFi into Telegram’s daily user experience. The launch of Affluent is expected to further enhance the platform's capabilities, making it a more attractive option for users interested in DeFi services.