Bybit, a cryptocurrency exchange, has announced that Tonstakers will be integrated to offer its members more staking chances.
This comes after the exchange declared on December 27 that Tonstakers, the most popular liquid staking mechanism on the TON blockchain, is now supported by its web3 wallet.
Bybit Web3 Wallet is introducing Toncoin staking to the community by integrating with Tonstakers. According to Bybit’s press release, the action broadens the range of staking options available to users throughout the platform’s decentralized finance ecosystem.
Up to 130 million TON blockchain ecosystem users can benefit from this DeFi integration as staking expands.
It will be possible to stake TON tokens directly within the Bybit Web3 Wallet. In this scenario, Tonstakers’ liquid staking token, tsTON, will be available to users of Bybit’s web3 wallet who stake TON.
LST holders will benefit from the advancement of security and expansion of the TON ecosystem. Users of the Bybit Web3 Wallet can get yearly returns of 3% to 5%, with the option to enable compounding. Emily Bao, head of Bybit Web3:
As a strong believer in DeFi adoption, Bybit Web3 is committed to bridging the gap between Web2 and Web3, creating simple, easy, and accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”
Tonstakers is one of the best protocols for liquid-staked TON in the market, with a total value locked of over $260 million.
Ethereum, Sui, and the stablecoins USDT and USDC are among the staking possibilities that Bybit Web3 Wallet provides. The wallet also supports bbSOL, a Bybit liquid staking token on Solana.
