USDe Earn

USDe Earn

USDe Earn is a DeFi-protocol by Ethena, available directly in the TON Wallet interface. It allows you to:

  • Stake USDe and earn variable rewards.
  • Start with a minimal amount — just 1 USDe.
  • Retain full control over your assets: track earnings and withdraw USDe at any time under Ethena’s terms.
  • Use a decentralized system — Ethena has no access to your funds.

The DeFi-protocol is conducted by a third-party service and is governed by the terms and mechanisms of Ethena. TON Wallet only provides a convenient interface to access the protocol.

What is USDe

USDe is a synthetic dollar developed by Ethena Labs, designed to maintain a 1:1 peg to the US dollar without using traditional fiat reserves.

USDe is an independent project not affiliated with TON Wallet. You can learn more about the project on the token’s official website.

What do I need to participate in USDe Earn

To participate, you only need:

  • TON Wallet.
  • USDe in your TON Wallet balance: you can deposit it by transferring USDe from another wallet on the TON network or via the Ethereum network, or by swapping USDT in your TON Wallet for USDe.
  • TON to pay the network fee for the deposit

How to deposit USDe

  1. Open the ‘Earn’ section in the bottom menu of your TON Wallet and select USDe.
  2. On the USDe Earn page, tap ‘Deposit’.
  3. Enter the amount you want to allocate, review the fee, and then confirm the operation by tapping ‘Confirm and Deposit’.

The process takes only a few minutes. Once the transaction is confirmed, it will appear as successful, and your assets will start participating in the strategy and earning rewards, and the deposited amount will be visible on the protocol page.

How much can I deposit into USDe Earn

The minimum deposit amount is 1 USDe and there is no maximum deposit limit.

What is Ethena

Ethena is a USDe liquid staking provider. It allows you to stake USDe with variable rewards, providing a full infrastructure — from deposits to withdrawals. Learn more about Ethena here.

What is the role of TON Wallet in USDe Earn

The USDe Earn DeFi-protocol is provided by a third-party organization. TON Wallet serves only as a convenient interface to access the protocol. The terms and mechanisms of its operation are determined by Ethena. We recommend reviewing its policies and rules before participation.

Where do the rewards come from

Ethena generates rewards through a delta-neutral strategy: the protocol stakes underlying assets while simultaneously opening short positions in futures to earn funding rates. Staking rewards and funding rates together form the protocol’s overall rewards, which are reflected in the gradual increase of tsUSDe relative to USDe. This is what generates your rewards. Learn more about how yield is generated on the Ethena website.

What does APY Mean

APY (Annual Yield or Annual Percentage Yield) shows the percentage of income you can earn over a year on the funds deposited in USDe Earn. 

When you deposit USDe, you immediately see an estimated 1-year return based on the current APY and token market price. The actual return may differ due to changes in the APY and USDe price.

The APY may change over time due to market conditions, strategy, and other factors. Ethena recalculates the APY once a week based on the actual returns of the assets underlying USDe. At the same time, contributions to the reserve pool are not taken into account. The up-to-date APY is always available on the USDe Earn page.

How does USDe Earn work

In the TON Wallet interface, you only see the deposit and withdrawal of USDe — all internal staking operations are executed automatically.

What is tsUSDe

tsUSDe is a staking token issued by the Ethena protocol that you receive when staking USDe. It represents your share in the staking pool, and as rewards accrue, its value in USDe increases — this is what generates your rewards.

How can I see my rewards

Rewards start accruing immediately after your deposit. They are reflected as a rising balance on the USDe Earn page, in the ‘Earnings Assets’ section and in the Lifetime profit section on the protocol page – which updates in real time. 

How to withdraw USDe

There are two ways to withdraw in USDe Earn:

  1. A withdrawal request
  • Tap the "Withdraw" button on the USDe Earn page.
  • After submitting the request, a fixed 7-day waiting period begins. This time is required for the unfreezing of funds and the accrual of earned rewards.
  • After the 7-day waiting period ends, tap “Claim” on the USDe Earn page to have the funds credited to your TON Wallet balance.

Important: If you initiate another withdrawal before the current 7-day cooldown ends, the entire cooldown timer is reset for all funds. The countdown restarts from day one. This means that the previous request will be canceled, and the unfreezing process will begin anew — with a fresh 7-day period.

This withdrawal method is best if you're willing to wait and want to receive a full amount of USDe, including all accumulated yield. 

  1. Instant withdrawal
  • Tap the “Withdraw” button on the USDe Earn page, enter the amount, and select the “Swap” option at the bottom of the page.
  • You will be redirected to the tsUSDe to USDe swap page: enter the amount and confirm the transaction.
  • The USDe will be credited to you immediately, with no waiting time.
  • However, the total amount of USDe you receive may be lower than with the submitting withdrawal request, depending on the current exchange rate.

This withdrawal method is suitable if you wish to withdraw your funds before the 7-day period and agree with potentially receiving a reduced amount of USDe.

Fees in USDe Earn

Deposit: When depositing USDe, a network fee applies, ranging from 0.02 to 1.4 TON. After the transaction is confirmed, any unused portion of the fee is automatically returned to your wallet.

Withdrawal: A network fee of 0.02 to 1.4 TON also applies when withdrawing USDe. After confirmation, any unused portion is returned to your wallet.

Note: all fees are displayed on the transaction confirmation screen so you can review them before completing the operation.

Are there regional restrictions for participation

According to the TON Wallet Terms of Use, TON Wallet is not available in certain countries. You can view the list of restricted countries here.

Additionally, the third-party partner providing the USDe Earn services in TON Wallet has their own terms and conditions, which may include national or regional restrictions. Depending on these terms, the DeFi-protocol may not be available in your region and/or jurisdiction.

Quick solutions to common issues

Situation

Possible cause

What to do
You submitted a withdrawal request, but the funds have not arrived Withdrawal is being processed (7 days). Wait until the withdrawal processing period is completed. If the withdrawal has already been processed, tap Claim on the protocol page.
APY has decreased APY is volatile and depends on market conditions. Check USDe staking updates — this may be temporary. 
The Earn or USDe Earn section is not visible in TON Wallet Regional restrictions or temporary suspension of the protocol. If you are in a country where the service is unavailable, the protocol will not appear. Also check TON Wallet’s official channel for any announcements about temporary suspensions.
Error 'You don’t have enough TON to pay for the transfer fee' when confirming a transaction Your balance doesn’t have enough TON to cover the network fee. Check your balance and leave a small amount for the fee, which may range from 0.02 to 1.4 TON. If needed, top up your TON Wallet.

If the problem persists, contact our support team — we’ll help you resolve it.

Are there any risks involved with participating in USDe Earn

Note: USDe Earn is a DeFi protocol with a medium level of risk among the strategies available in the TON Wallet interface. Learn more

As with any DeFi project, USDe Earn carries certain risks. Ethena operates on open-source smart contracts that have passed independent audits, and asset management is handled exclusively through these contracts — the service does not have access to your funds.

Before participating, review all available information and consider the potential risks. You can learn more about the risks and mitigation measures on the Ethena website.

Note: DeFi projects are managed by third-party entities that are not affiliated with TON Wallet. TON Wallet simply provides a convenient interface for accessing these projects. Any information we provide is not and should not be considered investment, tax, financial, legal advice, or a trading recommendation.

TON Wallet is not responsible for the organization, execution, or outcomes of any DeFi project.

TON Wallet does not guarantee the availability, eligibility for, or receipt of any rewards, and assumes no responsibility for any losses, delays, or disputes arising from participation in such DeFi projects.

Always do your own research (DYOR) and carefully assess risks before participating in any DeFi service.

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