ETHENA LABS has partnered with Open the network (ton) to include Usde Stablecoin and staked USDE (SUSDE), have been rebranded as a tsusde, in the Telegram ecosystem, reaching a billion users. Announced on May 1, 2025, at Token2049 In Dubai, this move allows Telegram users to access savings, dollars, and defi applications directly within the app. Integration supports both custodial (native telegram purse) and non-custodial wallets (for example, tons, tonkeeper) and enabled by Layerzero's interoperability protocol.
The worthy tsusde holders in the main Ton These wallets can earn a 10% annual percentage (APY) in tons of tons in balance up to 10,000 tsusde, including Ethhena's usual rewards.
Invocutment, which is set to take place in phases throughout May 2025, includes support for TON's Defi Ecosystem, which aims to boost adoption in emerging markets throughout Asia, Africa, and Latin America. The USDA's Ethde, with a market cap of $ 4.7- $ 6 billion, ranked as the third or fourth largest stablecoin, behind the USDT of Tether, USDC's Circle, and sometimes Sky USDS.
This expansion is aligned with the 2025 roadmap by Etherna to compete Tether By offering services like neobank, including potential ton debit cards and Apple pay Integration. The collaboration pushed a 3.5% increase in the Etho token up to $ 0.033 and a 1.9% increase in Toncoin to $ 3.22, even though TON network activity has faced denial since mid -2024.
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Ethena's synthetic dollar approach carries risks, as analysts are noted of potential compression yields in PABAGU -change of markets, but open collateral management and risk management to ensure stability. This step may redefine stablecoin access, the use of a massive telegram user base for the mainstream crypto adoption. The Ethhena's USDE Stablecoin integration with Telegram's Ton Blockchain brings significant implications throughout the adoption, defi, market dynamics, and risks.
Potential for mass adoption: Telegram's 1 billion+ user base provides a massive platform for mainstream stablecoin adoption, especially in emerging markets (Asia, Africa, Latin America) where mobile messaging apps dominate. The seamless access to USDE for thrift, payment, and defi within Telegram can drive crypto use to non-technical, bridging web2 and web3 users.
Defi ecosystem display: Ton's Defi Ecosystem gets a major stablecoin with a $ 4.7- $ 6 billion USDE cap. The 10% APY incentive for tsusde holders and integration in purses such as tons of tons and tonkeeper can boost liquidity in ton-based protocols, care for new applications and increased transaction volume.
Competitive Pressure to Stablecoins: The challenges of expanding Tether (USDT) and Circle (USDC), especially in plans for neobank -like services (for example, debit card, Apple Pay). The USDE's synthetic dollar model, if detected as stable, can erase Tether's dominance in markets that value access and yield.
Market and Token Impact: The partnership has raised the ETHENA token (+3.5% to $ 0.033) and Toncoin (+1.9% to $ 3.22). Increasing USDE use of tonne may maintain upward pressure in the ATA, while TON network activity can rebuild from the decline of 2024, enhancing the Toncoin value proposal.
Regulatory and Stability Dangers: The USDE synthetic dollar, which relies on collateral and yield techniques, faces the risks of yield compression or unevenness in Pabagu -changing market. The regulation of stablecoins regulation may intensify, especially if Ethena targets basic financial services. Ton's custodial wallet hoping can also raise concerns about the control and obedience to the user.
Interoperability and innovation: Layerzero's The paper enables cross-chain function, potential setting a precedent for stablecoin integrations with other blockchains. It can accelerate a change in DeFI and payment systems, but also introduces the technical risks tied to the interoperability protocols. This step may redefine Stablecoin and Defi access to tons, but its success depends on managing the risks and maintaining the user's confidence in USDE's stability.
