Telegram Expands Crypto Capabilities with Yield Vault Feature

In a significant update, Telegram has introduced an enhanced version of its self-custodial TON Wallet. This upgrade allows users to earn yields in major cryptocurrencies such as Bitcoin, Ethereum, and USDT without needing to leave the app. The highlight of this update is the “Vaults” system, offering users convenient and decentralized yield opportunities directly from the Telegram interface.

What Makes the New Vault System Stand Out?

Users can deposit their cryptocurrencies, including Bitcoin, Ethereum, and USDT, into smart vaults that employ decentralized lending and liquidity strategies. Remarkably, the USDT vault offers a promising yield of up to 18% annually through a compounding method. These operations are overseen by Re7 Capital, presenting a lucrative opportunity for crypto holders. Yields for the Bitcoin and Ethereum vaults are still variable and depend on market dynamics.

Distinguishing itself from traditional “Earn” products, Telegram’s system boasts a self-custodial setup. Users maintain complete control of their assets and private keys, forgoing the need to rely on centralized entities for their yield pursuits.

How is the Technical Architecture of Vaults Structured?

The technical underpinnings of the Vaults are crafted by top developers in the decentralized finance (DeFi) sector. Morpho offers the base for decentralized lending, while the TON Applications Chain guarantees seamless integration. This includes supporting assets like wETH and cbBTC, facilitating Bitcoin and Ethereum usage within the TON ecosystem.

Re7 Capital is responsible for designing and managing the earning strategies, carefully assessing risk to optimize returns. This synergy enables Telegram users to effortlessly tap into DeFi’s potent yield mechanisms, bypassing the need for additional wallets or external platforms.

What Enhancements are on the Horizon for Telegram Users?

Participation is straightforward via the @wallet bot in Telegram, where users can select the “Earn” option and allocate their funds into a desired vault. Future updates plan to allow direct deposits of Bitcoin and Ethereum, along with automatic conversion into supported wrapped tokens, simplifying user entry further.

With each new development, Telegram underscores its dedication to integrating comprehensive financial tools into its messaging app. The evolving TON ecosystem is solidifying its position as a premier destination for comprehensive crypto services, combining messaging, wallet, and DeFi capabilities.

“The introduction of Yield Vaults is a testament to our vision of merging social interaction with convenient financial services, right at users’ fingertips,” expressed a Telegram spokesperson.