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DeFi Takes a Leap Forward: Telegram Welcomes Affluent Lending App

Affluent has officially launched as the first native DeFi lending app integrated within Telegram, powered by The Open Network (TON).

This innovative platform provides users with access to lending pools and crypto yield strategies all within the familiar messaging app interface.

Co-founded by former TON Foundation director Justin Hyun and Hyung Lee from B-Harvest, Affluent aims to reshape Telegram into a financial super app.

With this launch, users can easily engage in crypto savings while institutional players gain access to deep liquidity.

The app is positioned as a "smart bank for crypto," promising trustless asset management in a user-friendly format.

By embedding DeFi features into a platform boasting over 900 million users, Affluent addresses significant usability challenges that have hindered broader DeFi adoption.

Users will not need to leave the app to access lending and yield products, streamlining their experience.

Additionally, Affluent is introducing a points program to motivate user engagement and secure deposits into their vaults.

As Telegram formally backed TON in September 2023, Affluent marks a significant advancement in integrating DeFi into daily user interactions on the platform.

With potential applications like risk-adjusted yield from USDT and other asset-backed strategies, the evolution of Affluent will be closely scrutinized in the fast-changing crypto landscape.