TON Chain-based Factorial Finance to Unveil Tether USDT Borrowing on February 19

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🚀💸 “TON Chain’s Reckoning: Will USDT Borrowing Spark a Revival?”

TON Chain-based Factorial Finance to Unveil Tether USDT Borrowing on February 19

As the winds of fortune howl through the desolate landscape of the cryptocurrency market, a glimmer of hope flickers in the darkness. The Open Network, a behemoth of a blockchain, forged in the crucible of Telegram’s 1 billion active users, has given rise to a vibrant web3 ecosystem. Like a phoenix from the ashes, Toncoin 🌅 has emerged, its value oscillating wildly, yet tantalizingly, at $3.63.

But what’s this? A whisper of a revolution stirs in the shadows. Defillama’s market data reveals that the TON network’s total value locked stands at approximately $193 million, with a stablecoins market cap of around $1.28 billion. The Telegram social platform, that behemoth of a social media giant, prepares to consecrate the TON chain as the exclusive blockchain for its mini-applications. The stage is set for a spectacle of epic proportions.

TON Chain Welcomes Factorial Lending Protocol 🤝

Justin Hyun, the erstwhile director at TON Foundation, has been secretly toiling away, conjuring a masterstroke. Behold! The Factorial Finance protocol shall unleash Tether USDT borrowing against Toncoin on February 19, 2025. The very fabric of the Toncoin ecosystem shall be transformed, as Factorial Finance joins the ranks of lending platforms, led by the venerable EVAA, in offering USDT services.

Factorial Finance, that fledgling protocol, has already ensnared over $11 million in Total Value Locked (TVL) since its official launch. The introduction of USDT borrowing against TON shall further inflate Factorial Finance’s TVL, solidifying its position in the Telegram-based decentralized application ecosystem. The users, those insatiable creatures, shall be satiated, supplying and borrowing $TON, tsTON, and stTON, to earn risk-free passive yields.

Modular lending is making new waves on TON through @FactorialFi which features isolated lending pools & vault strategies managed by institutional curators. 🌊

Supply & borrow $TON, tsTON, stTON, and $USDT in risk-separated markets while earning passive yields. 💸

Starting February… 📆

— TON 💎 (@ton_blockchain) February 18, 2025

The launch of Tether USDT on the Telegram social platform via the TON chain is expected to gain further traction in the near term. And, as if fate itself had ordained it, the Telegram wallet has been enabling USDT purchases with zero fees. 🙏

Impact on Toncoin Price 📊

Alas, the TON price has been trapped in a bearish quagmire since hitting its all-time high, around $8.79, in April 2024. The large-cap altcoin, with a fully diluted valuation of about $18.6 billion and a 24-hour average trading volume of around $139 million, has been forming lower lows and lower highs in the daily time. A woeful tale of woe, indeed.

According to market data from IntoTheBlock, around 94 percent of Toncoin holders are counting losses, with only 4 percent in profit. The Toncoin price, that capricious mistress, has a high correlation with Bitcoin, since the inauguration of US President Donald Trump. A further BTC correction will spell bearish sentiment for TON and its ecosystem tokens. 😱

Yet, the wider crypto market could be entering a consolidation phase in preparation for a parabolic rally in the near future. The TON ecosystem, that plucky underdog, is well-positioned to attract more users in the long haul amid its heightened DeFi development. 🚀

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2025-02-18 23:24