STON.fi Integrates Ethena’s USDe to Bring Reward-Bearing Stablecoin to TON DeFi

In a strategic move to expand non-speculative reward strategies within decentralized finance (DeFi), STON.fi has announced the integration of Ethena Labs’ synthetic dollar USDe into its ecosystem on The Open Network (TON).

The development allows users to swap, stake, and provide liquidity for USDe directly within the STON.fi platform. That too without needing bridges or third-party services. It’s a seamless experience designed to bring delta-neutral, reward-bearing stablecoins into the hands of TON users.

USDe is a synthetic, fully collateralized dollar backed by crypto assets such as ETH and liquid staking tokens. It uses a delta-neutral strategy, balancing long and short positions to maintain price stability without being exposed to speculative volatility. The strategy has drawn considerable interest across the DeFi space. Especially, users seeking yield-generating assets that offer transparency and control.

This marks a significant milestone in Ethena’s broader effort to deploy USDe across diverse blockchain ecosystems. TON, known for its integration with Telegram and growing retail-friendly infrastructure, represents a key target for onboarding mainstream users into DeFi. The integration was jointly announced by Ethena and the TON Foundation.

“With USDe, the ecosystem is introduced with more than just a new on-chain asset — it’s an integration of a reward-bearing asset that helps users manage their holdings without giving up control or flexibility,” said Slavik Baranov, CEO of STON.fi Dev.

STON.fi users can now directly swap TON-based USD₮ for USDe. They can also allocate their holdings into staking or liquidity pools within the same dApp. This simplicity is crucial to lowering the technical barriers typically associated with yield farming or stablecoin diversification.

Additionally, Ethena and STON.fi are launching dedicated liquidity pools where users who provide USDe liquidity will be eligible for Ethena-native rewards. These rewards may include automatic token incentives and potential bonus distributions at the end of the campaign. The incentive program is designed to bootstrap liquidity and engage TON users in sustainable DeFi participation.

The rollout of USDe on TON comes amid increasing traction for both STON.fi and Ethena. STON.fi currently dominates the TON DeFi space with over $5.8 billion in trading volume and 20 million operations. Ethena’s USDe, meanwhile, has grown into the third-largest USD-denominated crypto asset, with over $6 billion in TVL and integrations with leading DeFi protocols and centralized exchanges.

As DeFi moves toward more risk-mitigated and accessible solutions, integrations like this highlight the shifting priorities of the space. From speculative yield chasing to composable, user-friendly financial instruments that function across ecosystems.

With Telegram wallet access and on-chain support baked into TON, the availability of USDe via STON.fi may signal a broader push to democratize access to stable, yield-bearing digital assets without compromising on control or complexity.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.

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