Bybit Integrates Tonstakers to Enhance TON Staking for 130 Million Users
Bybit, the second-largest global crypto exchange, is enhancing its Decentralized Finance (DeFi) capabilities by integrating Tonstakers, a leading liquid staking protocol for the TON blockchain, into its Web3 Wallet.
Bybit Integration Expands TON Staking Access to 130M Users
Bybit's latest initiative simplifies staking for users, promoting mainstream adoption of decentralized finance. Users can stake Toncoin (TON) through the Bybit Web3 Wallet and receive Tonstake Liquid Staked Toncoin (tsTON) as a reward.
This integration enables 130 million TON users to stake directly within the Bybit Web3 Wallet, extending DeFi access to a broader audience. Emily Bao, Head of Bybit Web3, highlighted the strengthened connection with the TON blockchain.
Tonstakers is the inaugural partner in Bybit’s TON staking initiative, providing users with easy access to liquid staking benefits. The platform boasts over $260 million in Total Value Locked (TVL) and a solid market reputation.
This collaboration reflects Bybit's commitment to making decentralized finance accessible to all, reinforcing its role in the Web3 revolution focused on user-friendliness and accessibility.
The Future of Staking: Accessible, Simple, and Rewarding
Bybit’s Web3 Wallet supports staking for Toncoin and other assets, including Ethereum (ETH), Tether’s USDT, Circle’s USDC, bbSOL, and SUI.
The platform facilitates hassle-free staking with automatic compounding of rewards, offering annual returns between 3% and 5%. This positions Bybit as a leader in simplifying DeFi access, catering to both seasoned crypto users and newcomers.
Bybit has surpassed 130 million wallet addresses due to its appealing offerings and has integrated over 30 ecosystem partners, fostering community growth and expanding Web3 access.
In related news, Bitget plans to merge its Bitget Wallet Token (BWB) with its native token, Bitget Token (BGB), to streamline operations and enhance utility across centralized and decentralized platforms.
Bitget also announced a quarterly burn program aimed at reducing over $6 billion worth of BGB in the long term, as previously reported by Coinspeaker.