Bybit, a cryptocurrency exchange platform, further diversified its offering in staking with its onboarding of Tonstakers. An organization representing the leading liquid-stacking solution on the TON Blockchain allows users of the Bybit Web3 Wallet to begin staking Toncoin/Ton directly for competitive returns, further building out this platform’s DeFi ecosystems in one fell swoop.
It announced the integration of Tonstakers into its Web3 Wallet on 27 December, a huge step toward providing Toncoin staking to its fast-growing community. This allows users to stake TON tokens in return for Tonstakers’ liquid staking token, tsTON, earning annual returns of 3% to 5% with compounding available.
Bybit Enhances DeFi Offerings With TON Staking Integration
According to the news release by Bybit, it is proud that this new integration allows users to contribute to increasing TON’s security and developing ecosystem while enjoying their staked rewards. Having set a fully diluted TVL of over $260 million, Tonstakers became the leading protocol within the liquid staking market.
While it does, the Bybit Web3 Wallet already stocks other trending assets, such as Ethereum, Sui, and stablecoins, including USDT and USDC. However, the bbSOL token is offered a liquid-staked version of SOL on Solana.
“As a strong believer in DeFi adoption, Bybit Web3 is committed to bridging the gap between Web2 and Web3, creating simple, easy, and accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”
Emily Bao, head of Bybit Web3
Therefore, with this in mind, offering TON staking via the Tonstakers will develop the options set before them for users of Bybit; this appeals to more than the estimated 130 million users in the TON Blockchain ecosystem.
Users of the Bybit Web3 Wallet have the option to stake their TON tokens into the tsTON liquid staking token. This allows holders to keep their rewards while maintaining the potential to use their staked assets across the wider DeFi ecosystem.
This integration will attract a wide variety of users who want to get the most out of their digital assets while supporting the security and development of the blockchain TON.
Integration by Bybit with Tonstakers underlines the platform’s commitment to further strengthening its DeFi offering. By allowing the staking of an extensive array of assets, this exchange is on track to cement its position as a one-stop shop for users wanting ease of entry into the realm of DeFi.
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