With the official launch of the Ethereum stable yield protocol Ethena on the TON network, the TON DeFi ecosystem has undergone significant expansion. Leveraging USDe (on-chain crypto dollars) and itsWith the official launch of the Ethereum stable yield protocol Ethena on the TON network, the TON DeFi ecosystem has undergone significant expansion. Leveraging USDe (on-chain crypto dollars) and its

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TON DeFi User Guide: How to Earn Crypto Dollar Yields

Jul 16, 2025MEXC

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With the official launch of the Ethereum stable yield protocol Ethena on the TON network, the TON DeFi ecosystem has undergone significant expansion. Leveraging USDe (on-chain crypto dollars) and its staking form tsUSDe, users can participate in decentralized finance (DeFi) and earn considerable returns without bearing severe volatility risks. This innovation not only lowers the entry barrier for newcomers but also provides TON with critical infrastructure for a stable asset layer.

This article will comprehensively explain how to use TON DeFi from four perspectives: wallet selection, asset acquisition, staking process, and yield strategies, helping users efficiently access the on-chain stable yield system.

1. Choose a Mainstream Wallet Supporting TON

Before engaging in TON DeFi, users need to select a mainstream wallet that supports TON, mainly including:

TON Space (Telegram native wallet @Wallet): Accessible via the “Wallet” section in Telegram settings or by searching “@Wallet.”
MyTonWallet: Available by downloading the app or accessing the mini-app by messaging “@MyApp” on Telegram.
TonHub: Download the TonHub wallet app directly.
TONKeeper: Access via the TONKeeper app download or by messaging @TonKeeper on Telegram.

All these wallets support receiving USDe and tsUSDe and integrate DeFi staking functionality.

2. Acquiring USDe on the TON Network

USDe is an on-chain USD asset issued by the Ethena protocol. Users can acquire USDe through the following three methods:

Cross-chain bridging: Users can purchase USDe on Ethereum Mainnet, Arbitrum, Solana, or Base, and bridge it to the TON network via LayerZero and Stargate.

Direct purchase on TON: Users can utilize the built-in swap feature in wallets or connect to decentralized exchanges (such as DeDust and StonFi) to swap USDT or other assets directly for USDe.

Withdrawal via centralized exchanges: After purchasing USDe on supported platforms like MEXC, users can withdraw directly to their self-custodied TON wallets such as TON Space or TONKeeper.

Note: Ensure you have TON tokens prepared in advance to cover network transaction fees during operations.

3. How to Obtain tsUSDe (Staked USDe) on TON

tsUSDe is a yield-bearing certificate asset received when users stake USDe in the Ethena protocol to participate in the stable yield mechanism. The acquisition process varies slightly depending on the wallet used:

TON Space: Users access the USDe section within the wallet, enter the Ethena Staking area, and click “Stake” or “Start Earning” to convert USDe to tsUSDe.
MyTonWallet: By clicking on the USDe balance or the “Earn” button, users enter the staking interface to complete the USDe to tsUSDe conversion.
TonHub: Within the “Earnings” section, click “Start Earning,” select USDe, then click “Top Up” to stake.
TONKeeper: TONKeeper users need to use a dedicated staking app provided by StonFi. Within this app, users can stake their existing USDe or purchase USDe using USDT directly inside the app and stake it to receive tsUSDe. After staking, the tsUSDe will automatically appear in the wallet without additional steps.

4. Three Yield Strategies to Participate in TON DeFi

The Ethena protocol on TON offers stable assets and a complete yield pathway through tsUSDe and liquidity modules. Users can choose from the following three strategies based on risk preference and ease of operation to earn on-chain returns:

4.1 Hold tsUSDe to Earn Protocol Rewards

tsUSDe is an interest-bearing native asset that automatically accrues protocol rewards:

Yields are distributed every 8 hours, with a current base annualized rate of approximately 8%
Additional Toncoin (TON) incentives can be earned through wallet binding or incentive interactions, boosting the total annualized yield to 15%–20%
Supported platforms include TON Space, MyTonWallet, TonHub, and TONKeeper

4.2 Stake USDT via Telegram Wallet

Use the @Wallet feature on Telegram to deposit USDT into Ethena-supported vaults, stake, and receive periodic yields
No need for complex cross-chain swaps or conversions, making it beginner-friendly with stable returns

4.3 Provide Liquidity on DEXs to Earn Fees and Rewards

Users can pair USDe or tsUSDe with USDT and provide liquidity on decentralized exchanges such as StonFi and DeDust to earn:

Trading fees
Ethena protocol incentives
Toncoin liquidity incentives (subject to activity schedules).

Note: Ensure you hold equivalent assets in your wallet when adding liquidity to minimize slippage.

5. Frequently Asked Questions

Questions	Answers
How can users acquire USDe on the TON network?	USDe can be acquired through centralized exchange withdrawals, cross-chain bridging, or asset swaps directly on the TON network.
What is the process to obtain tsUSDe?	tsUSDe is obtained exclusively by staking USDe within supported TON wallets; direct minting of tsUSDe is not available.
Which methods qualify for earning tsUSDe holding rewards?	Holding rewards for tsUSDe apply only to assets stored in supported mainstream wallets; decentralized exchanges or non-custodial addresses are ineligible.

6. A New Paradigm for Stable Yield on On-Chain USD Assets

The deployment of Ethena on the TON network marks a significant step towards the mainstream adoption of stable yield assets within blockchain ecosystems. Through USDe and tsUSDe, users can participate in DeFi and earn on-chain returns without bearing high volatility risks. This not only lowers the barrier to entry but also enhances the composability and practical value of on-chain assets.

With ongoing improvements in TON wallet infrastructure, cross-chain bridging technology, and DeFi protocols, Ethena is poised to become a key stable asset solution within the TON network. For users seeking stable yields through on-chain USD assets, now is a pivotal time to engage with TON DeFi.

Disclaimer: The information provided in this material does not constitute advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it serve as a recommendation to purchase, sell, or hold any assets. MEXC Learn offers this information for reference purposes only and does not provide investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. MEXC is not responsible for users' investment decisions.

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