Ethena's sUSDe Goes Big: Now on TON Blockchain for Telegram's Billion Users!

Game-Changing Move at Token2049

Hold onto your hats, crypto fans! Ethena just dropped a bombshell at Token2049 on May 1. Ethena's founder, Guy Young, and The Open Platform's CEO, Halil Mirakhmed, revealed that Ethena's synthetic stablecoin, USDe, and its yield-generating sibling, sUSDe, are hitting the Telegram ecosystem. And guess what? They're rebranding sUSDe to tsUSDe for the TON blockchain!

Seamless Integration into Telegram

Get ready for some serious convenience. Thanks to Ethena's partnership with the TON Foundation, USDe and tsUSDe are diving straight into Telegram's native wallet and the TON Space wallet. That's right, you can mint, burn, transfer, and stake these bad boys without ever leaving your favorite messaging app!

A Billion Users, One Powerful Use Case

Ethena's tweet says it all: "Introducing the product for a billion people: Today we announce our partnership with TON to power finance's most powerful use case: To send, save and pay with a globally accessible dollar. Internet money, now available for Telegram's billion users."

Rollout Plan: Three Phases in May 2025

Ethena's not messing around. They've got a three-phase rollout planned for May 2025. First up, Ethena tokens are hitting all major non-custodial TON wallets like TON Space, Tonkeeper, and MyTonWallet. Next, they're integrating into Telegram's built-in custodial crypto wallet. And finally, Ethena's going all-in on TON DeFi apps, supporting trading, saving, and lending across the board.

Extra Rewards for TON Users

But wait, there's more! Eligible holders of Ton Staked USDe or tsUSDe can score an extra 10% annual percentage yield, paid weekly in TON, on top of the native sUSDe rewards. And each TON user can bag up to 10,000 tsUSDe. Talk about a sweet deal!

Ethena's Market Standing

At press time, Ethena USDe is flexing its muscles as the fourth largest stablecoin by market cap, trailing only behind Tether's USDT, Circle's USDC, and Dai's USDS. With a market cap of $4.6 billion, Ethena's making waves. Meanwhile, TON's holding strong with a $7.9 billion market cap and a daily trading volume of $145 million, currently trading at $3.18.