Skip to content
- Telegram adds DeFi yield vaults, letting users earn on BTC, ETH, and USDT within TON Wallet.
- USDT vault offers up to 18% blended APY, while BTC and ETH yields remain fully variable.
- Morpho, TAC, and Re7 power the vault system as Telegram expands cross-chain financial tools.
On Thursday, Telegram upgraded its crypto wallet by adding a major DeFi feature. The Telegram Wallet now supports on-chain yield vaults. This is through its self-custodial TON Wallet.
The Telegram Wallet now allows users to earn rewards on Bitcoin, Ethereum, and USDT. This is a major milestone in the development of financial services within Telegram.
The best-yielding vault is a USDT vault. It has a blended APY of up to 18%. This is due to Re7’s DeFi strategy. Telegram did not specify this as a fixed return.
Three Protocols Power Telegram’s Vaults
There are also ETH and BTC vaults. These have variable APYs. Telegram did not disclose specific figures for both coins. The only thing users know is that APY will change due to market activities.
There are three platforms that power Telegram’s vaults. Morpho powers lending infrastructure. It has over $10 billion in deposits. TAC enables users to use wrapped Ethereum and wrapped Bitcoin on the TON network. Re7 manages risk and uses its DeFi strategy.
The timing is related to the evolution of the TON ecosystem. Telegram experienced a rapid increase in tap-to-earn mini-apps during 2024.
However, the user engagement reduced due to the decrease in token rewards. On the other hand, the developer community requested features that are useful for long-term engagement.
The vaults were released after the cross-chain deposits. Two weeks ago, Wallet in Telegram released the ability to make cross-chain deposits using MoonPay.
Also Read: Circle Revenue Explodes 77% as USDC Supply Hits $75.3B Milestone
Users are able to transfer their digital currencies from the Ethereum, Solana, Tron, and other networks. With the vaults, the users are able to make direct allocations.
Telegram Prepares Native BTC and ETH Deposit Support
Andrew Rogozov, the developer, commented on the release. He stated that the upgrade connects the complex DeFi systems with the broader user base. He also stated, “The ability to provide self-custodial vaults for BTC, ETH, and USDT holders is an essential step for the TON ecosystem.”
The users are able to make their own decisions regarding the vaults. However, the USDT yield is not accurate. It is blended. It will change according to the performance of the strategy. The BTC and ETH vaults are similar.
The Wallet in Telegram is set to expand the features for deposits. The team is planning to add native support for BTC and ETH deposits. The coins will be automatically converted to wrapped versions in the TON Wallet.
Telegram claims that the wallet now has over 150 million registered users. The expansion is set to make the wallet one of the largest crypto tools tied to a messaging platform.
Also Read: Hong Kong’s March Stablecoin Licenses Spark Major Crypto Shift Ahead
