With nearly 87 million U.S. Telegram users, the integration marks a significant leap in Web3 accessibility. Users can now interact with STON.fi's swap services directly inside the Telegram-based TON Wallet, or via the standalone STON.fi dApp, making self-custodial DeFi as intuitive as sending a message.
Alpaca Finance launched in early 2021 as a leveraged yield farming platform on BNB Chain. With no venture capital backing and no pre-mine, it quickly captured the attention of DeFi users seeking amplified yield in a fast-growing ecosystem.
The broader vision behind Converge stems from concerns over DeFi’s stagnation since its peak in 2021. Domingo believes the lack of institutional adoption has hindered further growth, potentially limiting the next market cycle’s full potential.
The Series A round was led by Borderless Capital, with additional support from SOVO Ventures, Mapleblock, and Algorand Ventures, among others. The funding aims to enhance Folks Finance’s ability to address liquidity fragmentation in the DeFi ecosystem, particularly through its flagship xChain application.
On November 15, the foundation approved a proposal by cryptocurrency market maker Wintermute to share a portion of its fee revenues with ENA token holders. This move aims to align the growth of the Ethena protocol with its tokenholders' interests.
