Telegram Partners with Affluent for USDT DeFi Yield

Telegram Partners with Affluent for USDT DeFi Yield

Key Points:

  • Partnership targets Telegram’s extensive user base for DeFi adoption.
  • Earn 3.5% APY with USDT in the app.
  • Expected increase in DeFi integration and user engagement.

Telegram Wallet has partnered with Affluent to let users earn 3.5% APY on USDT using the app’s Earn feature.

The collaboration could significantly enhance DeFi accessibility among Telegram’s users, leading to increased adoption and usage.

Telegram’s partnership with Affluent, a DeFi protocol on the TON blockchain, allows users to earn up to 3.5% APY on USDT directly in the app. This development aims to make DeFi more accessible to over 100 million potential wallet users. Chief Product Officer Egor Danilov highlighted that the initiative seeks to transform idle crypto holdings into productive assets efficiently and securely.

Egor Danilov, Telegram Wallet’s Chief Product Officer, remarked, “Our aim is to help people turn their idle holdings into productive assets, simply and safely.”

Egor Danilov, Telegram Wallet’s Chief Product Officer, and Affluent Co-CEO Justin Hyun have emphasized that this integration simplifies DeFi to enhance access for Telegram users. It leverages the existing infrastructure of the TON blockchain for yield generation and securely manages user assets. With more than 800 million users on Telegram, the initiative targets onboarding a significant portion into DeFi by 2028.

The partnership is likely to stimulate increased liquidity in TON-based DeFi markets, potentially driving higher network activity and usage. By incorporating a self-custodial and decentralized approach, Telegram maintains user control over assets, facilitating broader acceptance and utility of DeFi on its platform.

Potential outcomes range from heightened DeFi adoption to regulatory reviews considering the self-custodial nature of the setup. The initiative could prompt new technological expansions within Telegram, leveraging historical trends in messaging apps evolving into financial service hubs.

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