Bybit Web3 Wallet Integrates Tonstakers To Enhance TON Staking And DeFi Opportunities
In Brief
Bybit has integrated Tonstakers into its Web3 Wallet, marking its first TON staking offering, enabling users to stake TON in exchange for tsTON and earn rewards.
Cryptocurrency exchange Bybit announced the integration of the liquid staking protocol Tonstakers on The Open Network (TON) blockchain into its Web3 Wallet, marking the first of Bybit Web3’s staking offerings for TON and reinforcing its commitment to expanding decentralized finance (DeFi) opportunities for users.
This integration allows Bybit Web3 Wallet users to stake TON seamlessly and receive tsTON, the liquid staking token (LST) from Tonstakers. The value of tsTON increases relative to TON every 26 hours, providing competitive rewards while supporting the growth of the TON ecosystem. Additionally, this integration offers 130 million users in the TON ecosystem the ability to stake TON directly within the Bybit Web3 Wallet.
Bybit aims to simplify DeFi adoption by offering intuitive, user-friendly staking experiences. This partnership with Tonstakers enables users to earn annual returns estimated between 3% and 5% APY, with rewards automatically compounded, further solidifying Bybit’s position as a leader in DeFi accessibility.
Tonstakers, the first partner in Bybit Web3’s TON staking initiative, is setting new standards for staking services. With a total value locked (TVL) exceeding $260 million and a considerable market share in the liquid-staked TON sector, Tonstakers provides Bybit Web3 Wallet users exceptional access to TON staking. Users can easily stake TON with a user-friendly interface, receive tokenized tsTON for use in DeFi applications across the TON ecosystem, and explore DeFi liquidity by engaging with Tonstakers Earn to provide liquidity and unlock diverse earning opportunities.
Bybit Web3 Wallet Expands Staking Services With Wide Range Of Options
Bybit is one of the largest cryptocurrency exchanges in the world by trading volume, with a user base exceeding 50 million. Its Bybit Web3 platform offers a comprehensive range of Web3 products designed to simplify access, swapping, collection, and growth of Web3 assets. The Bybit Web3 Wallet currently supports a variety of staking services, including those for ETH, USDT, USDC, bbSOL, SUI, and more.
Recently, Bybit Web3 unveiled the Sui Wonderland 2024 campaign. This initiative highlights Bybit Web3’s dedication to improving user experiences while fostering the growth of blockchain ecosystems through accessible and innovative engagement opportunities.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
