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Introducing USDt on The Open Network (TON)

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The biggest stablecoin in the world has gone live on the first blockchain integrated with Telegram, introducing USDt on The Open Network (TON).

Introduction

 

USDt Comes To TON: Embrace The True Peer-to-Peer Experience

 
The biggest stablecoin in the world has gone live on the first blockchain integrated with Telegram, introducing USDt on The Open Network (TON).
Launching a native USDt token on TON gives 900M monthly active Telegram users an entirely new Web3 experience of global peer-to-peer payments. At TON Foundation, we believe this is the biggest step in the Web3 space towards making digital currencies actually useful for the global population. Together with Tether, we’re enabling one of the most common use cases for digital currencies on the planet – peer-to-peer payments, and we’re making it as easy as sending a message. There are no intermediaries, no borders, and no limits.
“We're excited to bring USDt to The Open Network because we support its vision of an open and decentralized internet and a borderless financial system,” said Paolo Ardoino, CEO at Tether. “The launch of USDt on TON will allow seamless value transfer globally in a simple experience that can match even the traditional financial system. This furthers our mission of powering open financial infrastructure across the blockchain space.”
This move supports TON’s mission to put crypto in every pocket and integrate ‘under the hood’ Web3 services into the daily lives of Telegram users. Only through meeting users where they are, with valuable applications that improve everyday life, will the digital space onboard billions of users. This integration is likely one of the first-ever actually useful use cases with potential for global adoption. TON integrated into Telegram and, in partnership with Tether, will onboard hundreds of millions of cryptocurrency users to Web3.
Please note that USDt on TON is not available to users based in mainland US, US territories, or US citizens and Prohibited Countries as defined under Tether’s Terms of Service.

 

What is USDt?

USDt, also known as Tether, is the most used and best-known stablecoin, with over $85 billion in daily volume and a total market cap of $106 billion. USDt token is pegged 1-to-1 with USD  and backed 100% by Tether’s reserves. This 1:1 pegging gives USDt a stable value, setting it apart from other, more volatile digital currencies. Such stability is essential for daily transactions, trading, remittances, and protecting your holdings against the price fluctuations of other digital currencies. This means that stablecoins can be used for exchanges, DeFi, and peer-to-peer transactions.
USDt is commonly used for:
  • Hedging: As a stable asset, USDt allows users to mitigate cryptocurrency price volatility risk.
  • Everyday transactions: Its stability makes it suitable for daily activities like online shopping and payments.
  • Cross-border payments: USDt on TON offers low fees and instant transactions, making international transactions more straightforward and cost-effective.
Until now, USDt has never been matched with a distribution platform and user experience that could actually provide a simple, easy-to-use global payments experience that would reach the masses.

 

Start of a new era in digital finance

Launching USDt on TON marks a significant advancement in digital finance. TON’s unmatched efficiency, scalability, and security, matched with Telegram’s viral mechanics and massive 900 million strong user base, creates the perfect environment for USDt, increasing its utility and accessibility.
Advantages of USDt on TON:
  • Seamless Telegram integration: USDt on TON will be seamlessly integrated into Telegram, offering a uniquely user-friendly experience that positions TON as the most convenient blockchain for USDt transactions. This integration will simplify DeFi for Telegram users, making it more accessible and understandable.
  • Lower transaction fees: TON is already one of the most affordable Layer 1 networks, but with USDt, we’re taking things one step further. The core TON development team has optimized Tether’s smart contract to make it three times cheaper than any other jetton. A transaction between two USDt users is fixed at just 0.0145 TON (~$0.10).
  • Faster and scalable: TON’s high throughput and rapid confirmation times enable USDt transactions to be processed more quickly than ever before.
Furthermore, the TON-based Wallet in Telegram allows people to transfer USDt instantly and with no fees to their Telegram contacts worldwide. Exchanges and built-in on-ramps, including bank transfers, cards, and P2P, will be present at the launch, while off-ramps will soon enable global entry and exit from crypto on TON and Telegram, becoming a critical web3 gateway for Telegram users. This borderless USDt experience in Telegram is a bold step toward realizing Bitcoin creator Satoshi Nakamoto’s vision of “a purely peer-to-peer electronic cash without an intermediary,” packaged in a simple experience.

 

How USDt on TON benefits the ecosystem

For the TON Community, integrating USDt into the Wallet in Telegram and across the wider TON Ecosystem significantly improves the USDt transaction experience, setting it apart from other blockchain solutions. For the first time, users can take advantage of a native TON stablecoin within the ecosystem, benefiting from transfers within Telegram to any global contact for free via the Wallet in Telegram. With other on-chain wallets, users only pay network fees, and there are no hidden costs or markups. On-chain gas fees can also be paid in USDt-TON soon after launch.
For newcomers to cryptocurrencies, USDt on TON offers an accessible entry point. It combines the advantages of digital currencies with the stability of traditional fiat currencies, greatly simplifying the crypto experience and giving beginners a secure foundation to discover the advantages of DeFi on Telegram.

 

11 Million Toncoin in USDt Launch Incentives

It wouldn’t be a true crypto launch without massive incentives. This being the launch of the worlds largest stablecoin, inside one of the world's largest instant messengers, on one of the world’s fastest blockchains - it needed to be pretty special.
11 Million Toncoin in user incentives for early adopters of USDt on TON:
  • 5 million Toncoin to Wallet-in-Telegram’s USDt Earn - just buy or deposit USDt and Earn a yield return on the amount you deposit to the program.
  • 5 million Toncoin in boosts for Liquidity Pools across TON’s 2 largest DEXs - Ston.fi and DeDust. Supply both Toncoin and USDt in equal amounts and earn a yield return.
  • 1.2 million Toncoin in free withdrawals across TON’s major Centralized Exchange partners. Buy USDt or any TON-based asset and withdraw it to TON for free.
All incentives are only available for a limited time; once they are gone, they’re gone.
Please note that USDt on TON is not available to users based in mainland US and US territories and citizens of the United States and Prohibited Countries as defined under Tether’s Terms of Service.

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