blockchainreporter.net
Tonstakers, the biggest TON blockchain-based liquid staking protocol, has announced its participation in a DeFi incentive project of Toncoin. According to Tonstakers, TON Foundation-driven project targets to pave the way for the wider adoption of the trading pairs of USDt-TON along with improving the liquidity across the expanding TON DeFi network. This huge endeavor partners with well-known DeFi platforms like DeDust and STON.fi.
Tronstakers’ New Liquidity Incentives Project Fortifies Liquidity and Offers Lucrative Benefits
The chief objective of the program is to fortify $TON liquidity as well as its derivatives. In addition to this, it also focuses on the provision of lucrative incentives to facilitate the stakers and liquidity providers. With its collaboration with the top DeFi protocols, the project pursues to expand the liquidity. In this respect, it intends to offer a more effective and resilient marketplace to benefit the TON blockchain’s users.
The consumers now have permission to stake Toncoin through Bemo and Tonstakers. As a result of this, they would receive rewards via staking derivatives such as $tsTON and $stTON. Following that, they can pair the respective derivatives with $USDt. In this way, they can provide liquidity for decentralized exchanges. Apart from that, the project will initially focus on giving rewards to the participants contributing to the DeDust and STOn.fi-based liquidity pools.
These pools take into account “$stTON + $USDt,” “$tsTON + $USDt,” and “$TON + $USDt.” Participants will leverage the trading fees, staking rewards, and extra incentives to deliver liquidity to these pools. This reportedly drives participation and liquidity within the ecosystem of TON. TON Foundation reportedly supports the respective endeavor with the distribution of 5M $TON for more rewards via liquidity pools.
The Program Enables Participants to Elevate $USDT and $TON Returns
This assists the participants in maximizing their $USDT and $TON returns. This partnership potentially drives further the TON-based DeFi ecosystem’s adoption. Moreover, it persuades consumers to stake their $TON tokens. As per Tronstakers, the incentive project denotes a crucial move in advancing $TON in the case of the wider DeFi sector. Along with that, the new data discloses a remarkable jump in $TON’s total value locked from just 2M $TON to a staggering 38M $TON.