Bybit Exchange has integrated Tonstakers as it looks to connect over 100 million active users to the TON ecosystem.
Bybit, the second-largest global crypto exchange, is stepping up its Decentralized Finance (DeFi) game with a new user-centric feature. As announced, the exchange has recently integrated Tonstakers, the leading liquid staking protocol for the TON blockchain, into its Web3 Wallet.
Bybit’s latest move is set to make staking easier and more accessible for users. It is poised to bring decentralized finance closer to mainstream adoption. Users can seamlessly stake Toncoin (TON) through this integration in the Bybit Web3 Wallet, and will instantly receive Tonstake Liquid Staked Toncoin (tsTON) as a reward.
The integration allows 130 million TON users to access TON staking directly within the Bybit Web3 Wallet. This significantly expands DeFi’s reach to a larger audience. Emily Bao, Head of Bybit Web3, expressed excitement about strengthening Bybit’s connection with the TON blockchain.
Tonstakers is the first partner in Bybit’s TON staking initiative, offering users a seamless way to access liquid staking benefits. The staking platform has over $260 million in Total Value Locked (TVL) and a strong market reputation.
Bybit’s collaboration with Tonstakers is just one of many initiatives toward creating a world where decentralized finance is within everyone’s reach. The partnership solidifies Bybit’s role in the Web3 revolution, where ease of use and accessibility are key.
Bybit’s Web3 Wallet is not just designed to enhance the staking of Toncoin alone. The platform also supports staking for other assets, including Ethereum (ETH), Tether’s USDT, Circle’s USDC, bbSOL, and SUI.
Bybit makes staking hassle-free by offering automatic compounding of rewards, with annual returns ranging from 3% to 5%. This approach positions the crypto trading platform as a leader in simplifying access to DeFi, making it a growing hub for both experienced crypto enthusiasts and newcomers in the ecosystem.
The exchange now has over 130 million wallet addresses due to its relatable offerings. It has integrated more than 30 ecosystem partners, driving community growth and expanding Web3 access.
In other news, rival trading platform Bitget has recently announced its plans to merge its Bitget Wallet Token (BWB) with its native token, Bitget Token (BGB). This move aims to simplify operations, increase utility, and connect centralized and decentralized crypto platforms.
As reported earlier by Coinspeaker, Bitget is championing a quarterly burn program starting next year. Through the program, it plans to burn over $6 billion worth of BGB in the long term.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
