Ethena has launched natively on the TON blockchain, Telegram’s chosen blockchain, with USDe and the new TON Staked USDe (tsUSDe). USDe and tsUSDe has been integrated into all major non-custodial wallets on TON, allowing users to acquire USDe and stake it for tsUSDe to earn rewards.

This integration puts Ethena automatically into the hands of Telegram’s 1 billion+ users. Users can now access Ethena-powered dollar savings and DeFi directly within an app they use every day.

This launch marks the start of a 16-week campaign offering up to 18% APY for eligible users holding tsUSDe.

This guide explains at a high level how users can access dollar savings directly on TON. We recommend using mobile as the experience has been optimized for the direct-in-Telegram experience.

How Can I Earn Up to 18% APY?

For a 16-week period from now until mid-September, certain users with tsUSDe holdings in TON Space (@Wallet on Telegram), MyTonWallet, TonHub, and TonKeeper will be eligible for a boosted APY on top of the tsUSDe rewards.

The boosted APY will be denominated in TON and distributed directly to user addresses once they have proved their eligibility on a weekly cadence (assuming the pending rewards amount is over 0.1 TON).

The boosted APY will start at 10% APY for the first four weeks, then will drop to 5% boost by the end of the campaign during the last two weeks of the campaign. For clarity: this is additive to the 8% APY that tsUSDe currently offers.

Eligible users will hold at least 10 TON, at minimum 10 tsUSDe, and verify their eligibility via major wallets.

The boosted APY will be available on up to 10,000 tsUSDe per wallet, with a floor of 10 tsUSDe. Those with more than 10,000 tsUSDe will earn the boosted APY on the 10,000 tsUSDe and the normal tsUSDe reward rate for the remainder.

The user guide to acquiring USDe and staking USDe for tsUSDe within major wallets can be found below.

Accessing Dollar Savings on TON

Users can access Ethena-powered dollar savings via all major TON Wallets as follows:

1. Access TON Wallets

This integration will be available across TON Space (@Wallet on Telegram), MyTonWallet, TonHub, and TonKeeper.

TON Space can be accessed by going to Telegram, and either 1) searching up @Wallet in the Telegram search bar, or 2) going to the Telegram “Settings” page and accessing “Wallet”

MyTonWallet can be accessed either by downloading the MyTonWallet app, or messaging @MyApp on Telegram to access the MyTonWallet mini-app

TonHub can be accessed by downloading the TonHub wallet app

TonKeeper can be accessed by downloading the TonKeeper wallet app or by messaging @TonKeeper on Telegram

2. Acquire USDe

USDe can be acquired in one of three major ways on TON:

     a. Bridge USDe: Purchase USDe on Ethereum mainnet (or Arbitrum, Solana, or Base)      via a decentralized exchange and bridge to TON via stargate.finance

     b. Buy USDe on TON: USDe can be purchased on TON directly with USDT (or via      other assets through a decentralized exchange aggregator), within the “swap”      functionalities of major TON Wallets or by connecting a wallet to a DeDust, StonFi,      or a bridge aggregator and swapping there

     c. Withdraw USDe from a CEX: You can purchase USDe on ByBit, MEXC, BitGet, and      Gate, then withdraw it to TON

When withdrawing or bridging USDe, users should send their USDe to TON Space, TonKeeper, TonHub, or MyTonWallet. Make sure you are withdrawing USDe to an address you control in all scenarios.

3. Stake USDe Into tsUSDe

Once users acquire their USDe, they will need to stake their USDe into tsUSDe to enable rewards accruing on their USDe balance. tsUSDe accrues rewards every 8 hours, such that every 8 hours, users can withdraw slightly more USDe per tsUSDe.

Native within the wallet, USDe can be staked for tsUSDe on TON Space (@Wallet on Telegram), MyTonWallet, and TonHub.

The flow for each wallet differs slightly:

For TON Space:

USDe holders within TON Space will be prompted by a USDe section in the TON Section, which they can then click to enter into the Ethena Staking section. Then they can click either “Stake” or “Start Earning” to receive tsUSDe.

For MyTonWallet:

USDe holders within MyTonWallet can access USDe staking by clicking the “Earn” button on by clicking on their USDe balance within the wallet. From there, they will be prompted to stake their USDe into tsUSDe.

For TonHub:

USDe holders within TonHub can access USDe staking by clicking “Start Earning” within the “Earnings” section of the TonHub app. From there, they should click USDe and then “Top Up” to get tsUSDe for their USDe.

For Tonkeeper, the flow is slightly different. Users will need to access a staking application built by StonFi, accessible in the link below

Within this staking application, users can both stake existing USDe that they hold or purchase USDe with USDT within the app, which can then be staked for tsUSDe. The tsUSDe that users receive from the StonFi application after staking USDe will automatically show up in their wallets, without any additional interactions.

The StonFi application can also be used by users of the other wallets.