In an effort to turn Telegram into the superapp, a new protocol called Affluent was launched today, based on the TON blockchain. It was co-founded by former TON director Justin Hyun, who is now co-CEO of the new app.
Launched 'within Telegram', Justin believes that 'with over a billion monthly users, Telegram is in a prime position to become the next big financial superapp'. Affluent aims to simplify DeFi lending and borrowing services, making them directly available to Telegram users.
Introduced last month and previously called Factorial, Affluent describes itself as a 'trustless asset management layer' built on TON.
Its goal is to offer institutional investors profitability in gold, bitcoin, and RWA against $TON o $tsTON with one-click access. It follows the vault model, which currently includes 'Strategy Vault' and 'TON Multiply Vaults' to increase profitability by up to 400%.
In the coming months, Affluent also plans to include USDT Multiply Cauly, Strategy Vaults, and launch a 'Simplified DeFi' campaign on Telegram. These vaults operate on the RFQ (Request for Quote) system, which allows a trusted market maker to easily access cross-chain liquidity. RFQ allows us to outsource liquidity logistics, eliminating the need to obtain everything within the constraints of a local DeFi market.
According to the Affluent project, this model reallocates liquidity among strategies to ensure optimal performance, regardless of market conditions.
James Wynn has revealed in a X article that, just as Tencent and Alipay drove mass adoption in China, Telegram can lead a similar revolution for blockchain and web3.
It is interesting to note that Telegram's founder, Paul Durov, is driving this strategy. The web2 messaging platform recently launched its integrated Telegram Gift Marketplace, based on NFT.
Just in March, its native blockchain, TON, received $400 million in funding to boost blockchain growth. It has already updated and improved the accessibility of its integrated cryptocurrency wallet in Telegram.
Thus, the launch of another money market protocol, Affluent, within Telegram represents a boost to the current vision of turning it into a 'superapp'.
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