Ethena Labs Offers 18% APY on TON Ecosystem Savings

Ethena Labs has launched a high-yield savings feature within the TON ecosystem, offering users an annual percentage yield (APY) of up to 18%. This new service allows users to deposit tsUSDe directly through mainstream TON wallets on Telegram, including TON Space, TONKeeper, MyTonWallet, and TONHub. The service is designed to promote the daily use and yield of cryptocurrency assets, with the aim of reaching over 1 billion Telegram users worldwide.

This initiative is part of a 16-week campaign aimed at incentivizing users to stake their USDe stablecoin, converting it into tsUSDe. The campaign begins with an enhanced APY of 18% for the first four weeks, gradually decreasing to a baseline of 8% by the end of the campaign. To qualify for the rewards, users must hold a minimum of 10 tsUSDe and 10 TON in eligible wallets. The rewards, distributed weekly in TON, are capped at 10,000 tsUSDe per wallet to ensure fairness among participants.

The launch of this high-yield savings feature marks Ethena Labs' integration with the TON blockchain, expanding its decentralized finance (DeFi) ecosystem to a broader audience. By embedding Ethena’s dollar-denominated savings directly into these wallets, the process of retrieving, purchasing, and staking USDe becomes seamless and secure, all within the Telegram app. This move aims to provide broader accessibility and improved financial tools, particularly in regions where traditional banking systems are limited.

The campaign is structured to attract liquidity into the TON DeFi ecosystem. The boosted APY is designed to gradually decline, starting at 10% above the base yield and reducing to 5% in the final weeks. This strategy not only incentivizes early participation but also ensures sustained engagement throughout the campaign. The integration with Telegram’s wallet ecosystem eliminates the friction typically associated with onboarding into DeFi, leveraging an already engaged user base.

Ethena Labs' high-yield savings feature on the TON ecosystem represents a significant step in making DeFi more accessible and user-friendly. By offering attractive APYs and integrating with widely-used wallets, Ethena Labs is positioning itself as a key player in the DeFi space, providing users with a straightforward and rewarding way to engage with decentralized finance. This move is expected to further promote the daily use and yield of cryptocurrency assets, benefiting both Ethena Labs and the broader DeFi community.