A former TON Foundation executive is revolutionizing the way users interact with decentralized finance (DeFi). This is done by launching Affluent, a cryptocurrency investment app built natively on Telegram. The app combines traditional finance (TradFi) and DeFi principles. It simplifies crypto asset management, enabling users to earn interest with just a single click.
Officially announced on Monday, Affluent is a money market protocol. It’s designed to bring trustless crypto asset management to Telegram’s massive user base. Leveraging The Open Network (TON), the blockchain linked to Telegram, Affluent aims to make DeFi lending and yield generation accessible to users of all backgrounds. It does so without the complexities typically associated with decentralized finance.
Simplifying DeFi for Everyone
According to Justin Hyun, co-founder and co-CEO of Affluent and former director of the TON Foundation, the platform’s mission is to transform complex DeFi services into an intuitive experience.
“Our goal is to transform complex DeFi services into a simple and intuitive experience where users of all backgrounds and knowledge levels can easily invest and grow their wealth,” Hyun stated in an announcement shared with Cointelegraph.
Affluent achieves this by integrating two key features: the Strategy Vault and the Vault Manager system. These tools are designed to automate asset allocation and optimize yield strategies. This ensures users can benefit from expert management without needing technical expertise.
“By depositing assets into a vault, users let Affluent manage their assets via a combination of automated smart contracts and expert management,” Affluent’s announcement reads. It adds that user deposits are auto-spread across different lending markets for optimized returns.
How Affluent Works
When users deposit assets into a Strategy Vault, Affluent takes over the management process. This is done through a combination of automated smart contracts and expert oversight. Deposits are automatically spread across various lending markets to maximize returns. While maintaining a focus on long-term performance and safety.
The platform strikes a balance between automation and human judgment. It offers users a clean, simple interface while expert-managed vaults work behind the scenes. This hybrid approach ensures that even novice users can participate in DeFi without grappling with its inherent complexities.
Bridging TradFi and DeFi
Hyung Lee, another co-founder of Affluent and a seasoned expert in traditional finance (TradFi) options trading, emphasized the platform’s unique blend of TradFi and DeFi principles.
“By engineering solutions from traditional finance and developing them into a fully modular blockchain-based infrastructure, we are building the next generation of DeFi protocols—one that has all the advantages of Web3, but with the security and risk management of TradFi,” Lee explained.
This innovative combination allows users to earn interest as easily as depositing assets with a single click via Telegram. By streamlining the process, Affluent removes barriers to entry and makes DeFi more accessible to mainstream audiences.
Why Telegram?
Telegram’s vast user base—currently exceeding 800 million active users —makes it an ideal platform for introducing DeFi to a broader audience. The integration of Affluent into Telegram’s ecosystem ensures seamless accessibility. This allows users to manage their crypto investments directly within the messaging app they already use daily.
Additionally, The Open Network (TON) provides a robust and scalable blockchain infrastructure. It enables Affluent to deliver fast, secure, and cost-effective transactions. This foundation supports the app’s mission to democratize access to DeFi while maintaining high standards of performance and reliability.
A New Era of DeFi Accessibility
Affluent’s launch represents a significant step forward in making decentralized finance more user-friendly and inclusive. By combining the best elements of TradFi and DeFi, the platform addresses common pain points such as complexity, risk management, and accessibility.
For Telegram users, Affluent offers a unique opportunity to participate in the rapidly growing world of DeFi. This is done without requiring extensive technical knowledge or navigating multiple platforms. With features like automated asset allocation and expert-managed vaults, the app empowers users to grow their wealth effortlessly.
Final Thoughts
With its full launch, Affluent is poised to redefine how individuals interact with decentralized finance. By leveraging Telegram’s widespread adoption and The Open Network’s advanced blockchain capabilities. The platform bridges the gap between traditional finance and cutting-edge DeFi innovations.
As the crypto industry continues to evolve, initiatives like Affluent highlight the potential for DeFi to become a mainstream financial tool. For now, all eyes are on how users will respond to this groundbreaking fusion of TradFi and DeFi. And whether it will pave the way for broader adoption of decentralized technologies.
