The landscape of decentralized finance (DeFi) within social messaging is shifting as Telegram’s embedded TON Wallet officially introduces on-chain yield vaults for major digital assets. This move allows users to generate returns on their Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) holdings directly within the application interface. By integrating sophisticated DeFi protocols into a familiar messaging environment, the platform aims to bridge the gap between complex yield strategies and the everyday user.
Key Takeaways
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New Earning Options: Telegram’s self-custodial TON Wallet now supports yield-generating vaults for BTC, ETH, and USDT.
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High-Yield Potential: The flagship USDT strategy offers a blended annual percentage yield (APY) of up to 18%.
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Infrastructure Partners: The feature is powered by a collaboration between Morpho (lending), TAC (execution layer), and Re7 (strategy management).
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Self-Custody Maintained: Users retain control of their private keys and funds while participating in these on-chain strategies.
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Accessibility: The update leverages Telegram’s massive user base to provide a simplified entry point for decentralized finance.
The Evolution of DeFi Within the Telegram Ecosystem
For a long time, the barrier to entry for decentralized finance has been the requirement for specialized knowledge, ranging from managing multiple browser extensions to understanding cross-chain bridges. The recent launch of TON Wallet yield vaults marks a significant milestone in making these financial tools more accessible. By embedding these features directly into the Telegram "Wallet" bot, the friction of switching between different platforms is significantly reduced.
This development follows a period of rapid growth for The Open Network (TON). After the initial surge of "tap-to-earn" games in 2024, the ecosystem has been focusing on building sustainable financial infrastructure. The introduction of yield-bearing accounts for the world’s three largest digital assets suggests a strategic pivot toward long-term capital retention and utility.
Understanding the USDT Strategy and 18% APY
One of the most discussed aspects of this rollout is the USDT yield strategy in TON Wallet. Tether remains the most liquid stablecoin in the world, and its native presence on the TON blockchain has grown exponentially over the past year.
How the Yield is Generated
The reported "up to 18% APY" is not a fixed interest rate but rather a blended yield derived from automated on-chain strategies. These strategies are curated by Re7, a specialist in risk management and tokenized yield. Behind the scenes, the capital is typically deployed into:
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Lending Markets: Utilizing protocols like Morpho to provide liquidity to borrowers.
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Liquidity Provision: Supplying assets to decentralized exchanges or automated market makers.
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Incentivized Programs: Leveraging ecosystem rewards provided by the TON Foundation or partner protocols.
It is important to note that these returns are variable. The 18% figure represents a potential ceiling based on current market conditions and strategy performance. As more users enter the vaults, or as market volatility shifts, the actualized APY may fluctuate accordingly.
BTC and ETH Integration
While the USDT vault attracts attention for its high percentage, the addition of Bitcoin and Ethereum yield options is equally significant for long-term holders. Traditionally, earning yield on BTC or ETH required moving assets to centralized exchanges or navigating complex DeFi layers. Through the use of wrapped assets and the TAC (TON Applications Chain) execution layer, users can now put these "blue-chip" assets to work without the need for manual bridging.
The Technical Infrastructure: Morpho, TAC, and Re7
The success of a decentralized yield product depends on the robustness of its underlying architecture. Telegram’s TON Wallet has opted for a modular approach by partnering with established entities:
| Partner | Role in the Ecosystem |
| Morpho | Provides the decentralized lending infrastructure and liquidity layer. |
| TAC | Acts as the EVM-compatible execution layer, allowing Ethereum-style contracts to run on TON. |
| Re7 | Manages the actual yield-generating strategies and monitors risk parameters. |
This partnership model allows the TON Wallet crypto earning experience to remain "self-custodial." Unlike a centralized exchange where the platform holds your keys, the funds in these vaults remain on the blockchain, and the user holds the ultimate authority over their withdrawal.
User Considerations and Risk Management
While the convenience of earning 18% on stablecoins within a messaging app is clear, users should remain aware of the nature of on-chain yields. Because these are decentralized strategies, they carry certain inherent risks:
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Smart Contract Risk: As with all DeFi products, there is a theoretical risk of vulnerabilities in the underlying smart contracts of Morpho, TAC, or the vaults themselves.
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Variable Returns: The yields are market-dependent. If the demand for borrowing USDT drops, the APY will naturally decrease.
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Liquidity Risk: Although the vaults are designed for flexibility, extreme market events can sometimes impact the speed at which liquidity can be accessed in certain DeFi protocols.
By utilizing the self-custodial TON Wallet, users are essentially choosing to be their own bank. This provides transparency and control but also requires a basic understanding of how to keep one's Telegram account and recovery phrases secure.
The Future of the "Super App" Vision
The rollout of BTC, ETH, and USDT vaults is a clear signal that Telegram intends to become a "Super App" similar to WeChat or Alipay, but powered by decentralized technology. With over 150 million registered wallet users, the potential for mass adoption is unparalleled in the crypto space.
As the ecosystem matures, we may see further integrations, such as direct pay-outs from yield vaults to merchants or automated savings plans. For now, the focus remains on providing a competitive, on-chain alternative to traditional savings and centralized crypto lending.
FAQs
Is the 18% APY on USDT guaranteed?
No, the 18% APY is a variable, blended rate. It represents the potential return based on current DeFi strategies managed by Re7. Actual returns will fluctuate based on market demand and protocol performance.
Do I need to hold TON tokens to use the vaults?
While you will need a small amount of TON to cover blockchain gas fees (which are typically very low), the vaults themselves allow you to deposit BTC, ETH, or USDT. Recent updates also allow for easy cross-chain deposits from other networks.
Are these vaults custodial or self-custodial?
The vaults are self-custodial. This means that neither Telegram nor the TON Wallet team has direct access to your private keys. You maintain full ownership of the assets while they are deployed in the yield strategies.
How do I access the BTC and ETH vaults?
You can access them by opening the @wallet bot in Telegram, navigating to the "Earn" section, and selecting the asset you wish to deposit. Assets like BTC and ETH are automatically converted into compatible wrapped versions within the TON ecosystem.
Can I withdraw my funds at any time?
Generally, yes. These on-chain vaults are designed to provide liquidity, allowing users to withdraw their principal and earned rewards. However, users should always check the specific terms within the app for any potential cool-down periods or withdrawal fees.