Ethena’s USDe and tsUSDe Launch on TON, Offering Up to 18% APY

The synthetic dollar USDe, developed by Ethena, is now officially live on the TON blockchain, alongside its staked counterpart, tsUSDe. This launch represents a significant step in TON’s mission to make decentralized finance (DeFi) accessible to everyday users. For the first time, users can earn on USD-denominated assets directly within Telegram while maintaining security and custody of their digital dollars.

This development follows the previously announced partnership between Ethena and the TON Foundation, marking the beginning of a 16-week campaign offering up to 18% annual percentage yield (APY) for eligible users. The announcement was made here.

Understanding USDe and tsUSDe

USDe is a synthetic dollar designed to maintain its dollar peg while accruing real APY. Unlike traditional synthetic dollars backed solely by fiat or cash equivalents, USDe is supported by delta-neutral strategies aimed at delivering sustainable on-chain returns.

When users stake USDe on TON, they receive tsUSDe, a TON-native version of the token that generates APY and unlocks additional rewards on TON. This provides holders with a straightforward way to grow their savings without leaving the TON ecosystem.

Campaign Details: Earning with tsUSDe

For a limited 16-week period, eligible users can earn a boosted APY by holding tsUSDe in their TON wallet. The campaign offers a base APY of approximately 8%, with bonus APY rates decreasing over time, starting at 10% for the first four weeks and gradually reducing to 5% by the final two weeks. Rewards are paid out weekly, with a minimum deposit of 10 tsUSDe required to participate.

To qualify for the bonus APY, users must have a verified wallet with at least 10 TON and 10 tsUSDe tokens. Each user is limited to one wallet for the campaign, and multiple applications through different accounts or wallets will result in disqualification.

Acquiring and Staking USDe

USDe and tsUSDe are available across major TON non-custodial wallets, including TON Space, Tonkeeper, Tonhub, and MyTonWallet. Users can acquire USDe by purchasing it on TON-native decentralized exchanges like STON.fi and DeDust, bridging from other chains using Stargate Finance, or withdrawing from centralized exchanges such as Bybit, MEXC, Bitget, and Gate.io.

To stake USDe and earn APY, users need to deposit USDe into their preferred TON wallet, follow the staking prompt to convert it into tsUSDe, and hold tsUSDe in their wallet. APY accrues automatically as long as tsUSDe remains in the wallet.

This launch is part of a broader collaboration between Ethena and the TON Foundation, aiming to make digital dollar savings accessible to a wider audience, starting with Telegram’s extensive user base.

Why This Matters: Impact, Industry Trends & Expert Insights

The launch of Ethena’s synthetic dollar USDe and its staked version tsUSDe on the TON blockchain introduces new earning opportunities for users within the Telegram ecosystem.

Recent industry reports indicate a shift towards sustainable, capital-efficient models in DeFi. This aligns with the launch of USDe, as it offers a sustainable yield mechanism through delta-neutral strategies, reflecting broader trends in the DeFi sector.

As per insights from Bitcoin.com, the integration of USDe with the TON blockchain is expected to significantly enhance user engagement by providing a stable, dollar-pegged asset to Telegram’s vast user base. This supports the news event’s impact by potentially increasing the adoption of stablecoins within the Telegram ecosystem.

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