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”
