On May 1, the TON Foundation announced that one of the fastest-growing Web3 applications, Ethena, is joining the TON ecosystem.
According to the organization, a convenient and efficient dollar savings technology will soon be available for a billion Telegram users. Ethena is engaged in the issuance of the stablecoin USDe, which allows its holders to earn income.
The integration implies the introduction of native support for the stablecoin USDe and tsUSDe in all leading TON wallets and DeFi projects on this blockchain.
Ethena claims that the partnership will implement the most efficient method of using the dollar — namely, for transfers, storage, and payments.
It is planned that users will be able to earn returns in tsUSDe tokens directly in popular wallets.
Users will soon be able to interact with USDe in TON directly. The first to integrate the stablecoin directly into the interface will be MyTonWallet, TON Space, Tonkeeper, and Tonhub.
«In the future, initiatives such as neobanking, peer-to-peer payments, and convenient interfaces for lending and DeFi trading are also being considered, all based on Ethena,» stated by the TON Foundation.
In addition, a bonus campaign will be offered for dollar holders in the Telegram Wallet.
Owners of tsUSDe in major TON wallets will receive a +10% increase in APY (annual percentage yield) and rewards on balances up to 10,000 tsUSDe in the wallet.
«Now all users in these countries can take advantage of a globally available means of saving dollars through USDe from Ethena directly in their Telegram app,» Ethena stated.
«USDe looks like a regular dollar in the wallet, but it can also generate income»
The founder of the popular crypto wallet MyTonWallet, Alexander Zinichuk, spoke about the technology features and technical specifics during its implementation.
According to Zinichuk, unlike conventional stablecoins based on fiat reserves, USDe is built on a delta-neutral strategy. This means that part of the capital is placed in ETH (the popular cryptocurrency Ethereum), and the other part is in futures.
As the market moves, these positions balance each other out, allowing for a stable value, Zinichuk adds: «Income from staking is generated from the funding fee — commissions paid by traders on futures exchanges. Since Ethena takes a position opposite to the market trend, it receives these commissions and distributes them among users. This model is stable and transparent from an economic perspective.»
The founder of MyTonWallet also shared the technical side's features. He emphasized that the integration turned out to be significantly more complex than the standard token addition: «At the beginning of the work, Ethena did not yet have a contract in the mainnet, so we were simultaneously solving compatibility issues and designing support with future changes in mind — without the possibility of full testing. The process of withdrawing tsUSDe is organized in two stages: first, the user sends a request, and only after 7 days can receive their funds.
This delay is provided for by the architecture of Ethena — it allows for the correct completion of trading positions and risk management. We reworked the transaction processing mechanics, added intermediate statuses, clarifying elements, and designed the interface so that the entire process remains as simple and understandable as possible for the user.
Zinichuk also mentioned that special attention was paid to the correct display of tsUSDe — visual hints were added, and the token was separated from regular liquid assets. Moreover, scenarios for partial withdrawals, repeat requests were taken into account, and a notification about the readiness of the stamp was implemented.
He admits that all this was implemented in extremely tight deadlines — alongside the preparation of other planned updates: «USDe looks like a regular dollar in the wallet, but it can also generate income. We tried to make its use as clear and reliable as in familiar financial services — without the need to delve into technical details or study complex documentation. It is important to us that financial instruments in Web3 are not only safe and decentralized but also truly convenient for users.»
