Bybit integrates Tonstakers into its Web3 Wallet, offering TON staking, $tsTON rewards, and DeFi opportunities with user-friendly experience.
Bybit, the world’s second-largest cryptocurrency exchange, has recently integrated Tonstakers into its Web3 Wallet. This represents the first step of Bybit Web3 TON staking offerings. Moreover, this move is part of its goal to offer decentralized finance (DeFi) opportunities to users.
Bybit Web3 Wallet, through this integration, allows users to stake Toncoin ($TON) and obtain another token, $tsTON, which represents a staked Toncoin. With every 26 hours, the $tsTON value increases relatively to $TON. This allows the users to be rewarded fairly, and contribute to the TON ecosystem growth. Furthermore, this integration allows 130 million users within the TON ecosystem to access TON staking options via the Bybit Web3 Wallet.
Bybit seeks to simplify the path to DeFi adoption through user-friendly staking experience. It has partnered with Tonstakers to allow Bybit users to earn annual returns between 3% and 5% APY, automatically compounded.
Bybit Web3 Simplifies DeFi with New Tonstakers Staking Integration
With a total value locked (TVL) greater than $260 million, Tonstakers is the first of Bybit Web3’s TON staking partners. It owns a major share in the liquid-staked TON market. Users of Bybit Web3 Wallet can easily stake $TON and earn $tsTON rewards. In addition, the $tsTON tokens can be used in different DeFi applications all across the TON ecosystem.
Furthermore, Bybit users who have $tsTON can supply liquidity to participate in Tonstakers Earn. This offers more possibilities for earning for those in DeFi.
Emily Bao, Head of Bybit Web3, was excited about the integration. Bybit Web3 is excited to build on this connection with the TON blockchain, she added. She also noted that Bybit Web3 is about building bridges between Web2 and Web3 to offer simple, easy-to-use DeFi solutions to a much larger audience.
Overall, this integration is hoped to benefit the TON ecosystem by allowing it to grow and attract more users into the world of the DeFi. Continuing to evolve, Bybit Web3 develops new methods on how to make decentralized finance more accessible.
