Bybit, a prominent cryptocurrency exchange, has unveiled its integration with Tonstakers, a leading liquid staking protocol on the TON blockchain. This integration marks the debut of Toncoin (TON) staking within Bybit’s Web3 Wallet, enhancing the decentralized finance (DeFi) opportunities available to its users.
With this development, Bybit users are set to benefit from new staking options, further diversifying their investment strategies. The integration opens the door for approximately 130 million TON blockchain users to engage in staking activities through Bybit’s platform, using their Web3 Wallet to stake TON and receive Tonstakers’ liquid staking token, tsTON, in return. This enables participants to earn rewards while reinforcing the growth and security of the TON ecosystem, with potential annual returns ranging from 3% to 5%, and the added benefit of compounding support.
Emily Bao, the head of Bybit Web3, expressed the company’s dedication to fostering DeFi adoption by bridging the gap between traditional Web2 platforms and the more innovative Web3 solutions, offering accessible financial alternatives to a broader audience. The partnership with Tonstakers is expected to play a pivotal role in the TON ecosystem’s expansion and development.
Tonstakers currently boasts a total value locked (TVL) exceeding $260 million, establishing itself as a significant player in the liquid staking market for TON. Additionally, Bybit’s Web3 Wallet presents users with varied staking options beyond Toncoin, supporting currencies such as Ethereum, Sui, and stablecoins like USDT and USDC. The wallet also includes bbSOL, a Bybit liquid staking token available on the Solana network.
