BSCN@BSCNews
TON BLOCKCHAIN DEFI RECEIVES $23.7M BOOST…
- According to an official blog post, the TON Foundation has today launched “a new 5 million Toncoin DeFi incentive program”.
- At current prices 5 million $TON is equivalent to around $23.7 million.
“This new initiative is part of a larger effort to bolster adoption of USDt-TON and drive deeper liquidity for TON’s DeFi ecosystem”
- The blog also points out that since its April launch, $USDT on TON has accrued a circulation of around $730 million, “making it the fastest growing launch in Tether’s history”.
- The new program is part of a wider strategy to boost @ton_blockchain‘s decentralized finance ecosystem and is being spearheaded by the below projects, according to the post…
@ston_fi
@dedust_io
@tonstakers
@bemo_finance
- The post explains that, in order for users to earn rewards, they must assist in providing deeper liquidity for the TON ecosystem.
- More specifically, this involves staking $TON via Tonstakers and Bemo, before contributing their staking derivatives to $USDT pairs on StonFi and Dedust.
- The blog post ends by teasing that the foundation…
“may launch additional incentive programs for lending, perpetual DEXs, and other DeFi protocols to expand yield farming strategies available on TON”
Image: TON Foundation blog post