Telegrams in app crypto feature Wallet in Telegram has disclosed a new on, chain yield feature for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) holders.
The self, custodial TON Wallet is the channel for delivering the service that adds vaults to the offering. These vaults allow users to put their funds into third, party DeFi strategies without even opening their browsers.
This is quite a significant leap forward for the TON Wallet as it evolves from being just a tool for simple self-custody to becoming an intermediary for externally yield-generating protocols.
The change can, therefore, be seen as a potential deepening of the users’ decentralised finance experience as Telegram itself is one of the largest social networks globally with over 150 million registered accounts.
How the Yield Vaults Work
The vaults are basically smart, contract based containers that take deposited BTC, ETH, or USDT, and redirect them to on, chain strategies selected by three partners: Morpho, a lending network backed by over $10 billion in deposits; TAC, an EVM execution layer facilitating Ethereum compatibility to TON; and Re7, a token, yield specialist.
To open a vault, a user just needs to run the @wallet bot, go to the Earn tab and choose a vault. For USDT, the highest-yielding vault promotes a combined APY of up to 18 %, which is directly linked to a DeFi strategy powered by neither Re7, while both ETH and BTC vaults offer flexible returns that reflect current market conditions and the performance of the underlying protocols.
Opportunities and Challenges
This integration makes it easy for the average users to access DeFi as the popular Telegram interface hides the complicated actions of the bridges and the management of private keys.
Another value is that TON’s liquidity might be enhanced when wrapped tokens of Bitcoin (cbBTC) and Ethereum (wETH) are brought into the system through TAC, hence new cross, chain routes will be created.
Also Read: xStocks Launches on TON Wallet, Bringing Tokenized U.S. Stocks to Telegram
Future Outlook
Developers have been trying to leverage Telegrams large audience to expand The Open Network (TON) ecosystem since 2024. Initial experiments like tap to earn games attracted users momentarily but failed to maintain the interest.
Telegram is now going to integrate yield vaults in the wallet itself to switch the platform from just a messaging service to the main stage of DeFi for a large number of users. Upcoming features will allow for native BTC and ETH deposits, which will be automatically converted to wrapped assets, thus making cross-chain transfers very easy.
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