Telegram allows users to earn DeFi revenue through its in-app self-custodial wallet in partnership with Affluent.
Summary
- Telegram integrated with Prosperous DeFi to make yields more accessible
- Wallet users can earn returns on their USDT balance
- According to the two companies, this makes DeFi more accessible
Telegram has taken another step towards making DeFi more accessible. On Friday, October 24, Telegram announced an integration with Affluent, a TON-based DeFi vault protocol. The integration allows users to earn revenue through the Wallet in Telegram, the self-custodial wallet.
According to the two companies, the integration will provide one-click access to DeFi to more than 100 million active users of Telegram’s wallet. The partnership starts with USDT earnings, made possible through Telegram’s “Earn” feature. According to the TON Wallet, users can earn up to 3.5% returns on their USDT shares.
“This partnership will enable millions of people around the world to transform their idle assets into productive assets that generate returns,” said Egor Danilov, CPO of Wallet in Telegram. “Our goal has always been to make Web3 accessible to everyone, whether crypto-native or not. This integration of Affluent’s vaults allows our users to put their assets to work easily, securely, and without ever leaving the Telegram app.”
Telegram hopes to become a Web3 super app
According to Justin Hyun, co-CEO of TON-based (TON) Prosperous, this move is a milestone towards the goal of making Telegram a Web3 super app. This is a type of application with multiple use cases, including messaging, social media, and payments.
“We’ve taken the complexity out of DeFi, so Telegram users can now access professional savings strategies right from Telegram: open Wallet, click and earn,” Justin Hyun, Prosperous.
The messaging app Telegram has 800 million monthly active users and the wallet has 100 million users. This makes it potentially one of the top sources of new DeFi users. The company plans to integrate 30% of its user base into the wallet by 2028.
