The crypto exchange Bybit has announced the integration of Tonstakers to offer its users new usage options.
This follows the exchange’s announcement on December 27 that its Web3 wallet now supports the TON blockchain’s leading liquid staking protocol, Tonstakers.
By integrating with Tonstakers, Bybit Web3 Wallet takes the first step in making Toncoin (TON) staking accessible to the community. The move expands the stakes users can leverage across the platform’s decentralized finance ecosystem, Bybit noted in the press release.
As deployment increases across the ecosystem, up to 130 million users of the TON blockchain ecosystem will have the opportunity to take advantage of this DeFi integration. Staking TON tokens is possible directly in the Bybit Web3 Wallet.
In this case, users of Bybit’s web3 wallet can stake TON and receive the liquid staking token tsTON from Tonstakers. Holders of the LST receive rewards while contributing to the growth and security of the TON ecosystem. Bybit Web3 Wallet users can earn annual returns between 3% and 5%, with compounding support available.
“Bybit Web3 believes strongly in DeFi adoption and is committed to bridging the gap between Web2 and Web3 and creating simple, accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”
Emily Bao, Head of Bybit Web3
Tonstakers has a total value of more than $260 million and is one of the top liquid staked TON protocols in the industry.
