How to earn with Ethena in the TON DeFi ecosystem

The idea of earning passive income with crypto is always popular — and for a good reason. With Ethena now live on the TON blockchain, users can tap into a new world of yield opportunities. From staking to liquidity provision, Ethena's integration with TON creates multiple ways to grow your digital dollars. In this article, we’ll show you how to participate in the TON DeFi ecosystem and start earning with Ethena.

Key Takeaways:

• Ethena has officially launched on the TON ecosystem, introducing tsUSDe (TON-staked USDe) to the TON blockchain.

• In this article, we’ll explore how you can participate in the TON DeFi ecosystem and earn with Ethena.



How to participate in the TON DeFi ecosystem

Before you begin earning rewards with Ethena, let’s first look at how you can participate in the TON DeFi ecosystem.

Choose a TON wallet

To begin, you’ll need a TON-compatible wallet that supports USDe and tsUSDe. Popular options include:

• TON Space: Access via Telegram by searching “@Wallet” or via the Wallet tab in Telegram settings.

• MyTonWallet: Available as a downloadable app, or via the Telegram bot @MyTonWallet App (mini app).

• Tonhub: Mobile-only wallet available on app stores.

• TONkeeper: Download the app, or message @tonkeeper on Telegram.

Obtain USDe on TON

There are three ways to get USDe into your TON wallet:

• Bridge USDe: Purchase USDe on your preferred network (Ethereum, Arbitrum, Solana or Base) via a decentralized exchange, and bridge to TON via LayerZero or Stargate.

• Buy USDe on TON: USDe can be purchased on TON directly with USDT (or via other assets through a DEX aggregator) by using the Swap functionalities of major TON wallets, or by connecting a wallet to a DeDust, STON.fi or a bridge aggregator and swapping there.

• Withdraw USDe from a CEX: USDe can be purchased on a centralized exchange such as Bybit.

Make sure you withdraw USDe to a TON wallet address that you control, and keep some TON in your wallet to cover transaction fees.

Obtain tsUSDe on TON

Once you have USDe, you can stake it to receive tsUSDe, the yield-bearing version of USDe on TON. Here’s how to do it in each wallet:



For TON Space users



Step 1: Open the Wallet bot on Telegram, and tap on TON Space at the top of the page.

Step 2: Under the Earn section, tap on Ethena.

Step 3: Tap on Start Earning.

Step 4: Tap on Stake to receive tsUSDe.



For MyTonWallet users



Step 1: Search for the MyTonWallet App bot on Telegram and launch the mini app.

Step 2: Tap on Earn and ensure that USDe is selected.

Step 3: Tap on Stake USDe to receive tsUSDe.



For Tonhub users



Step 1: Launch the Tonhub app on your mobile device.

Step 2: Under the Earnings section, tap on Start Earning.

Step 3: Select USDe, and tap on Top Up to receive tsUSDe in exchange for USDe.



For Tonkeeper users



Step 1: Navigate to the STON.fi x Ethena page and click on Connect Wallet.

Step 2: Select Tonkeeper, and scan the QR code with your Tonkeeper wallet.

Step 3: Upon successful connection of your wallet, click on Earn with USDe and select USDe.

Step 4: Input the amount of USDe you would like to stake for tsUSDe. Note: The tsUSDe you receive from staking will automatically show up in your Tonkeeper wallet without any additional interactions.

How to earn with Ethena in the TON DeFi ecosystem 

Now that you’ve obtained USDe or tsUSDe, follow our guide below to find out how you can earn with either of these tokens in the TON DeFi ecosystem.

Hold tsUSDe with TON

The simplest way to earn is by holding tsUSDe in major TON wallets. The Ethena protocol distributes dollar-based rewards to tsUSDe holders every eight hours, with a current APY of around 8%.

But that’s not all. You can also earn up to an extra 10% in Toncoin (TON) if you follow in-wallet instructions for boosted rewards, bringing your total potential yield to 15–20% APY.

Simply follow the steps below.



Step 1: Acquire USDe in major TON wallets.

Step 2: Stake USDe for tsUSDe in your wallet via Ethena or STON.fi.

Step 3: Follow any additional steps for boosted APY within the wallets.

Stake USDT into the Ethena-powered vault

You can also earn rewards using USDT by staking it into an Ethena-powered vault within the Telegram Wallet.



Step 1: Locate the Wallet feature on Telegram, either by typing @Wallet in the search bar or by tapping on the Wallet setting in the menu. 

Step 2: Stake your USDT into the Ethena-powered vault and earn rewards regularly.

Pair USDe or tsUSDe with USDt on DEXs

Alternatively, you can pair USDe or tsUSDe with USDT on major decentralized exchanges (DEXs), such as STON.fi and DeDust, in order to earn swap fees, Ethena rewards and potential TON rewards.

Pro tip: Add equal values of both tokens (USDe/tsUSDe and USDT) to minimize slippage and maximize rewards.

Closing thoughts

Ethena’s integration with TON is a powerful combo for anyone looking to earn steady yield in crypto. Whether you’re holding tsUSDe, staking USDT or contributing to DEX liquidity, there’s a strategy for every type of user. Start today and let your crypto dollars work for you!



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