In this article, we’ll explore how you can participate in the TON DeFi ecosystem and earn with Ethena.

The idea of earning passive income with crypto is always popular — and for a good reason. With Ethena now live on the TON blockchain, users can tap into a new world of yield opportunities. From staking to liquidity provision, Ethena's integration with TON creates multiple ways to grow your digital dollars. In this article, we’ll show you how to participate in the TON DeFi ecosystem and start earning with Ethena.

How to participate in the TON DeFi ecosystem

Before you begin earning rewards with Ethena, let’s first look at how you can participate in the TON DeFi ecosystem.

To begin, you’ll need a TON-compatible wallet that supports USDe and tsUSDe. Popular options include:

There are three ways to get USDe into your TON wallet:

Make sure you withdraw USDe to a TON wallet address that you control, and keep some TON in your wallet to cover transaction fees.

Once you have USDe, you can stake it to receive tsUSDe, the yield-bearing version of USDe on TON. Here’s how to do it in each wallet:

: Open the Wallet bot on Telegram, and tap on 

: Search for the MyTonWallet App bot on Telegram and launch the mini app.

: Launch the Tonhub app on your mobile device.

, and scan the QR code with your Tonkeeper wallet.

: Upon successful connection of your wallet, click on 

: Input the amount of USDe you would like to stake for tsUSDe. 

: The tsUSDe you receive from staking will automatically show up in your Tonkeeper wallet without any additional interactions.

How to earn with Ethena in the TON DeFi ecosystem 

Now that you’ve obtained USDe or tsUSDe, follow our guide below to find out how you can earn with either of these tokens in the TON DeFi ecosystem.

The simplest way to earn is by holding tsUSDe in major TON wallets. The Ethena protocol distributes dollar-based rewards to tsUSDe holders every eight hours, with a current APY of around 8%.

But that’s not all. You can also earn up to an extra 10% in Toncoin (TON) if you follow in-wallet instructions for boosted rewards, bringing your total potential yield to 15–20% APY.

: Stake USDe for tsUSDe in your wallet via 

: Follow any additional steps for boosted APY within the wallets.

You can also earn rewards using USDT by staking it into an Ethena-powered vault within the Telegram Wallet.

: Locate the Wallet feature on Telegram, either by typing @Wallet in the search bar or by tapping on the 

: Stake your USDT into the Ethena-powered vault and earn rewards regularly.

Alternatively, you can pair USDe or tsUSDe with USDT on major 

 (DEXs), such as STON.fi and DeDust, in order to earn swap fees, Ethena rewards and potential TON rewards.

: Add equal values of both tokens (USDe/tsUSDe and USDT) to minimize 

Ethena’s integration with TON is a powerful combo for anyone looking to earn steady yield in crypto. Whether you’re holding tsUSDe, staking USDT or contributing to DEX liquidity, there’s a strategy for every type of user. Start today and let your crypto dollars work for you!

Beginner

How to earn with Ethena in the TON DeFi ecosystem

Ethena has launched on TON and introduced tsUSDe, a reward-bearing, TON-native version of sUSDe, in order to bring passive earning opportunities to Telegram’s massive user base.

As Telegram’s ecosystem rapidly grows, so too does the opportunity to bring 

 (DeFi) to a wider global audience. The recent launch of Ethena on TON is a prime example, unlocking new ways for users to earn dollar-based yields while seamlessly tapping into Telegram’s enormous user base. In this article, we’ll learn about Ethena and TON, explore how they work together and show you how to earn with tsUSDe across the TON DeFi ecosystem.

Ethena is a synthetic dollar protocol that offers a crypto-native alternative to traditional stablecoins through its USDe and sUSDe assets.

Ethena enables users to hold and earn with USDe, a stable asset backed by a delta-neutral hedging mechanism, and sUSDe, which adds a yield-bearing layer. Now, with its integration into the TON blockchain, Ethena is expanding its reach beyond Ethereum to tap into Telegram’s billion-strong community.

 blockchain initially developed by Telegram and now maintained by the TON Foundation.

. Its native token, Toncoin (TON), powers transactions and staking. Thanks to its close integration with Telegram, TON is positioned as one of the most user-accessible blockchains today.

What sets TON apart is its direct access to Telegram’s user base. Since early 2025, Telegram has officially designated TON as its exclusive blockchain partner, solidifying a collaboration that began in 2023 with the rollout of TON-based mini apps.

Telegram’s distribution power, with over 1 billion monthly active users, gives any project built on TON instant visibility and scale. This makes the network a unique gateway to onboard Web 2.0 users into web3, especially in regions with high Telegram adoption.

Ethena’s integration with TON is more than just a technical milestone — it’s a strategic move to democratize access to DeFi and dollar-denominated yields. By launching on TON, Ethena makes it possible for users to interact with USDe natively within the Telegram ecosystem without needing to bridge across blockchains.

Users on Bybit can also withdraw USDe directly into any TON-compatible wallet, making it even easier to participate.

As part of the launch, Ethena introduced a new token: tsUSDe (TON-staked USDe). This is a TON-native version of sUSDe, meaning it carries the same reward-bearing mechanism, but is minted on the TON blockchain.

To obtain tsUSDe, users can simply stake USDe via Ethena’s staking interface with their selected TON networks. This unlocks earning opportunities directly within TON, without needing to interact with Ethereum or other chains.

The benefits of tsUSDe include the following:

How Ethena is powering the TON DeFi ecosystem

Ethena’s entry into TON marks one of the most important integrations in the network’s DeFi growth to date. As tsUSDe spreads across the ecosystem, users can already interact with it across a range of platforms — from wallets to lending apps. 

These integrations create a web of earning opportunities from staking and liquidity provision to lending and borrowing, all accessible through Telegram’s familiar interface.

The launch of Ethena on TON is more than just another chain expansion; it’s a step toward bringing stable DeFi opportunities to the masses, especially through the convenience of Telegram. With tsUSDe, users can now earn passively while exploring the TON ecosystem’s fast-growing 

If you're looking to diversify your earning strategies, or simply want an easier way to access DeFi, this integration is worth checking out. As more platforms begin to support tsUSDe, Ethena is well-positioned to become a core building block in the TON DeFi landscape.

Intermediate

Ethena on TON: Boosting rewards for users

cmETH is a liquid restaking token that represents staked ETH within Mantle Network’s ecosystem. Learn more about how you can mint cmETH on Bybit here.

Liquid staking has become an essential tool for ETH holders looking to earn passive income without sacrificing liquidity. But now, with 

 solutions like cmETH, users can go beyond traditional rewards by earning layered yields through protocols such as EigenLayer.

In this guide, we’ll walk through everything you need to know about cmETH, how it compares with mETH, what rewards to expect and how to mint it easily on Bybit’s On-Chain Earn platform — especially during the 30-day, limited-time bonus event running from Jun 10, 2025 through Jul 10, 2025 in partnership with Mantle Network and EigenLayer.

EigenLayer is a restaking protocol built on Ethereum that allows users to reuse their staked ETH (or liquid staking tokens, such as mETH, to secure additional networks and decentralized services called Actively Validated Services (AVS).

At its core, EigenLayer allows users to “restake” ETH or liquid staking tokens (LSTs) like mETH that are already staked for Ethereum's 

 (PoS) consensus. Instead of just earning base staking rewards, users can opt in to restake those same assets to support other decentralized services, including 

This creates a powerful shared security model, whereby multiple protocols can leverage Ethereum’s validator set without having to bootstrap their own trust networks from scratch. For users, it means earning additional incentives (often in the form of native tokens like EIGEN) — on top of their regular staking rewards — simply by opting in to restake.

EigenLayer is quickly becoming a foundational layer for Ethereum’s modular future, attracting widespread attention from both developers and stakers. As more AVS launch on EigenLayer, the opportunities for restakers continue to grow.

Following is a simple breakdown of how EigenLayer works.

Users who have staked ETH (either directly or via LSTs) can opt in to restake their assets on EigenLayer. This means they're extending the security of their stake to other networks, not just Ethereum.

AVS are services that tap into EigenLayer’s pooled security. These can include oracle networks, cross-chain bridges, data availability layers, rollup sequencers and more. Restakers delegate their stakes to operators running these services, thereby helping to secure operations.

Because restakers are now providing security to multiple protocols, misbehavior (e.g., downtime or dishonest validation) on any AVS can trigger slashing of restaked assets. This ensures accountability and maintains security across all layers.

When you mint cmETH on Bybit, your ETH or mETH is automatically routed through Mantle Network and restaked on EigenLayer. This gives you exposure to EigenLayer’s AVS ecosystem and allows you to earn dual rewards (Ethereum staking yield and bonus AVS incentives) in a single step, without needing to restake manually.

 is a liquid restaking token that represents staked ETH within the 

 ecosystem, enabling holders to earn rewards from 

 staking and additional restaking protocols, such as 

. It’s designed to provide users with a seamless staking experience, and combines the benefits of Ethereum's 

 (PoS) rewards with additional yields from restaking strategies.

While both cmETH and mETH are integral to the Mantle Network staking ecosystem, they serve distinct purposes:

In essence, cmETH offers a multi-layered yield approach, combining base staking rewards with additional incentives from restaking activities.

Staking cmETH presents several advantages for users seeking to maximize their ETH holdings:

During the limited-time bonus event running from Jun 10, 2025 through Jul 10, 2025, minting cmETH on Bybit will entitle users to:

Please note that only new deposits and staking actions made during the event window are eligible for bonus rewards. A 24-hour minimum holding snapshot is used to calculate eligibility. In addition, bonus rewards are only available for cmETH minted during the event window, and they require a 41-day holding period in order to qualify for full distribution.

How to earn additional interest rate bonus

When you mint cmETH during the event period (Jun 10, 2025 through Jul 10, 2025), the bonus interest is automatically applied. The total APR for cmETH is 3.43%, which includes both the base Ethereum staking yield and additional bonus yield from EigenLayer in the form of EIGEN or partner tokens. There’s no need to claim anything manually. Once your ETH or mETH is staked, your rewards start accumulating immediately.

Please note that the interest will stop accumulating once you initiate redemption, and your rewards will be finalized based on your average holdings over the 41-day lock-in period. These rewards will be unlocked and distributed automatically on the 41st day of the event.

While the event primarily focuses on staking bonuses, Bybit is also offering an additional referral perk when you send this article to a friend and invite them to participate in this limited-time event with your referral link. Upon successful referral, you’ll receive an additional airdrop of EIGEN or USDT, which will be unlocked on the 41st day of the event.

There are two ways you can mint cmETH on Bybit: either through ETH or mETH. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and obtain ETH or mETH, which can be purchased on the Bybit Spot trading platform. Once you have ETH or mETH in your Bybit account, you may proceed with the following steps.

: On the Bybit homepage, hover your cursor over the 

button. Alternatively, you can also enter 

in the search field to locate the token. 

: Input the amount of ETH you would like to stake, or the amount of cmETH you would like to receive. Confirm the details and click on 

Once you’ve successfully staked ETH for cmETH, you may head to the 

: Input the amount of cmETH you would like to exchange, or the ETH you would like to receive. Confirm the details and click on 

cmETH earns from Ethereum staking rewards via mETH, and additional yield through restaking on EigenLayer. During the event, users also receive bonus tokens, such as EIGEN and OWN.

You can redeem cmETH through the Bybit On-Chain Earn platform. Redemption takes T+9 days, after which your ETH or mETH will be returned to your account. However, if you redeem before the 41-day lock-in period ends, you will forfeit the pending bonus rewards (e.g., EIGEN airdrops).

Yes. Minting cmETH on Bybit is secure. The platform integrates restaking protocols like EigenLayer in a fully custodial environment, meaning Bybit handles the back-end staking and restaking processes on your behalf. Users retain full visibility over their funds, with real-time reward tracking, secure redemption and no need for manual delegation or validator setup.

The interest rate bonus is automatically applied upon successful minting of cmETH. Please note that the interest will no longer accumulate upon cmETH redemption.

Mint cmETH during the event period, or refer a friend using your link. Airdrops (EIGEN or USDT) will unlock on day 41 of the event.

Minting cmETH on Bybit is more than just another staking opportunity — it’s a gateway into the future of ETH restaking. With the Mantle x EigenLayer x Bybit collaboration, users receive access to dual rewards, event-exclusive bonuses and a seamless interface to track and grow their crypto holdings. 

JUN25_R15_How to mint cmETH on Bybit.png

How to mint cmETH on Bybit

Plasma has officially partnered with Aave, the largest DeFi liquidity protocol, to expand access to lending and borrowing for underserved users and institutions worldwide. 

The S&P 500 dipped 0.27% as investors awaited producer inflation data and weighed easing rate pressure and a US-China trade deal. Gold climbed to $3,363 as cooling US inflation raised Fed rate cut hopes, while weak dollar and US-China trade uncertainty supported prices. The Coindesk Indices, which tracks the broader crypto market, fell 2.01%, with Bitcoin down 0.71% and Ether up 1.49%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is KAIA, up 5.2% after Kaia announced plans for a won-pegged stablecoin amid rising crypto momentum in South Korea.

Kaia (KAIA), launched in August 2024, is a Layer 1 blockchain formed from the merger of Klaytn and Finschia, backed by Kakao and LINE. With over 280M users, it aims to lead Asia’s web3 push, offering fast, low-cost, EVM-compatible infrastructure for RWAs, DeFi, and gaming. Kaia plans to 

 a won-pegged stablecoin following President Lee’s crypto-friendly inauguration, boosting optimism in South Korea’s digital asset space. Backed by Kakao, Kaia’s move aligns with legislative support for private stablecoin innovation, while payment stocks rallied in anticipation.

Check out the latest prices, charts, and data of 

, the largest DeFi liquidity protocol, to expand access to lending and borrowing for underserved users and institutions worldwide. The collaboration includes support from key players like Lemiscate, Stani Kulechov, Avara, Aave Chan, and Horizon. Aave will be a day-one launch partner on Plasma, powering permissionless financial services and enabling users to earn real yield through USD₮ infrastructure. This partnership aims to bring foundational financial tools to billions without relying on traditional banks.

Yesterday, BTC spot ETFs saw $164.6 million in net inflows, all from non-GBTC funds, while GBTC recorded no activity.

, and to qualify, users must use all their earned points to vote on memes—unvoted points won’t count toward rewards. The airdrop tab is already visible on their site, so now is the time to act. Earn points through daily check-ins, spins, and tasks, then vote with all of them on the “Meme” page to ensure eligibility before the drop goes live.

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Plasma partners with Aave to expand global access to DeFi lending and yield

Bybit Learn

TradFi

This article explores the outlook for Nvidia in 2025, looking at key developments and market trends and offers a step-by-step guide on how to trade NVDA using CFDs on Bybit TradFi.

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 (NASDAQ: NVDA) is the world’s leading powerhouse for 

 and data center infrastructure, delivering high-performance graphics processing units (GPUs) and AI accelerators that power everything from advances in generative AI models to autonomous driving systems. As such, NVDA stock remains a go-to for growth-focused investors.

This article explores the current outlook for Nvidia in 2025, identifies key company developments and market trends and offers a step-by-step guide on how to trade NVDA using Bybit’s 

 global stock trading using contract for differences (CFDs).

As of mid-2025, Nvidia is continuing its strong trajectory following a record-breaking 2024. The company’s market cap sits at approximately $3.2 trillion, making it one of the most valuable firms globally.

 a record quarterly revenue of $26 billion, an increase of 18% from Q4 and a year-on-year jump of 262%. Founder and CEO of NVIDIA, Jensen Huang, explained that “companies and countries are partnering with NVIDIA to shift the trillion-dollar traditional data centers to accelerated computing,” signaling continued strong demand for Nvidia’s chips.

Despite reported strong earnings, NVDA is down 1.85% year-to-date (YTD). However, it has gained 30% from the lows of the wider market sell-off in April. In terms of one-year performance, 

 38.18%, and looking at three-year performance, the stock is up a staggering 681.18%.

, NVDA maintains a consensus “Buy” rating from its analysts, with many firms raising their price targets in light of sustained demand for AI chips and high-performance computing solutions. As of May 21, the current price of NVDA stock sits at $133.49, but analysts believe there is 45% upside in price to follow.

NVIDIA is a leading manufacturer of GPUs and semiconductors, which are critical to AI, HPC and data center applications. The company’s commitment to AI infrastructure, exemplified by its 

 in US AI server infrastructure and new supercomputer production, underpins strong growth prospects.

Growth in enterprise and consumer markets

The GeForce gaming GPU line remains a core revenue driver, while Nvidia’s enterprise solutions are 

 rapidly in robotics, healthcare and simulation. Additionally, Nvidia’s 

 is expanding its footprint through partnerships with General Motors, Toyota, Mercedes-Benz and more.

Strategic partnerships and ecosystem expansion

 — unveiled in March 2024 — have begun mass deployment across enterprise, research and cloud sectors. These next-gen AI chips are expected to drive record revenues from hyperscalers such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud.

President Trump’s tariffs war has caused mayhem across markets in 2025, and Nvidia has not been spared. As AI has also become a political playball, tightened US export controls on advanced semiconductors to China continue to pose revenue risks. Nvidia has been forced to adjust its product offerings and navigate shifting policy landscapes.

Potential market saturation in AI infrastructure

As AI chip supply catches up with demand, pricing pressure and order slowdowns from hyperscalers could affect margins, particularly if corporate AI spending moderates in the second half of 2025.

Nvidia faces rising competition from AMD’s MI300 accelerator line and custom silicon from Apple, Google and Amazon. Intel’s Gaudi architecture and Meta’s in-house AI chips add further pressure. Emerging competitors, such as Huawei’s new semiconductor products, could challenge NVIDIA’s market share, especially in key regions like China. Unexpected disruptors like DeepSeek may also continue to drive the price of AI services down.

Beyond company-specific developments, a mix of macroeconomic and internal forces could shape Nvidia’s stock performance:

 users can now gain exposure to top US equities like Nvidia using USDT. Here’s how to get started:

1. Create or log in to your Bybit account and pass verification.

Agree to the terms and conditions, create your MT5 password and download the MT5 client.

Search for NVDA.NAS in the MT5 platform to open long or short positions. Bybit allows leverage up to 5x on stock CFD trades.

Note that trading fees of $0.04 per share with a minimum commission fee of $5 per order apply.

Nvidia continues to drive the global AI boom, with a strong technology moat and institutional backing. While risks persist — from regulatory hurdles to competitive headwinds — NVDA’s role in AI, gaming and data center computing continues to position it as a compelling trade.

Bybit users can now trade NVDA CFDs and 77 other top US stocks through 

. For a limited time, enjoy 50% off trading fees as part of our launch campaign.

Nvidia stock outlook in 2025: How to trade NVDA on Bybit

Compete for 2,500 USDT USDT Every Week

Nvidia stock outlook in 2025: How to trade NVDA on Bybit

Grab Up to 5,000 USDT in Rewards

Compete for 2,500 USDT USDT Every Week

Grab Up to 5,000 USDT in Rewards