Crypto exchange Bybit has announced the integration of Tonstakers to bring new staking opportunities to its users.
This follows the exchange’s announcement on Dec. 27 that its web3 wallet now supports the TON blockchain’s leading liquid staking protocol, Tonstakers.
By integrating with Tonstakers, Bybit Web3 Wallet is taking the first step in bringing Toncoin (TON) staking to the community. The move expands the staking opportunities users can tap into across the platform’s decentralized finance ecosystem, Bybit noted in the press release.
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As staking grows across the ecosystem, up to 130 million TON blockchain ecosystem users have the opportunity to tap into this DeFi integration. Staking of TON tokens will be accessible right within the Bybit Web3 Wallet.
In this case, users of Bybit’s web3 wallet will be able to stake TON and receive Tonstakers’ liquid staking token tsTON. Holders of the LST will earn rewards while contributing to the TON ecosystem’s growth and security. Bybit Web3 Wallet users can unlock annual returns of between 3% and 5%, with compounding support available.
“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.”
Emily Bao, head of Bybit Web3
Tonstakers has a total value locked of more than $260 million and ranks as one of the top protocols for liquid-staked TON in the market.
Meanwhile, Bybit Web3 Wallet offers several staking options, including support for Ethereum, Sui, and the stablecoins USDT and USDC. The wallet also supports bbSOL, a Bybit liquid staking token on Solana.
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