Bybit TradFi is bringing traditional markets to the Bybit App, with advanced tools and competitive fees. This guide shows you how to get started, what assets are available and how to trade — no third-party apps required.

 (formerly Bybit Gold & FX) now enables users to trade traditional financial assets, including gold, forex, commodities and stock CFDs, directly from the 

Whether you're looking to diversify beyond crypto or explore leveraged positions in traditional markets, Bybit TradFi brings it all together in one place, with advanced tools and competitive fees. This guide shows you how to get started, what assets are available and how to trade — no third-party apps required.

 is the newly rebranded version of Bybit Gold & FX. It offers crypto users seamless access to traditional financial markets. Built with the same user-first ethos that shaped its crypto offerings, Bybit TradFi bridges the gap between digital assets and real-world finance.

Bybit TradFi traders can access over 100 global markets, including forex pairs, commodities, indices and 78 stock CFDs, all using USDT as collateral. This lets crypto-native traders diversify their portfolios without converting funds into fiat or using third-party tools.

, offering advanced charting, algorithmic trading via 

 (EAs) and deep liquidity. Whether you’re trading manually or using automated strategies, the platform delivers a flexible, pro-grade experience.

In May 2025, Bybit expanded its TradFi platform by 

. This update introduced 78 major US stock 

The offering allows traders to speculate on stock price movements without owning the underlying shares. With up to 5x leverage, and the ability to use USDT as collateral, it’s designed to meet the needs of crypto-native users looking to diversify into traditional markets.

Bybit TradFi brings global markets to the Bybit App

On Jun 13, Bybit TradFi announced a major update — users can now trade global assets (forex, gold, stocks, commodities and indices CFDs) directly on the 

. Previously, Bybit TradFi users are required to install the MetaTrader 5 (MT5) app to trade traditional markets. Now, traders can access TradFi trading contracts alongside Spot crypto pairs, Perpetual futures trading pairs, crypto options and more — all on the powerful and feature-rich Bybit App (update the app to 

Bybit’s TradFi interface makes accessing forex markets simple and intuitive. With USDT as margin, you can open positions on popular currency pairs such as NZDUSD+ directly from the Bybit App.

Bybit TradFi brings everything together: crypto, forex, gold, oil, indices and stocks CFDs, all in one powerful platform. With USDT as margin, you can seamlessly transition between asset classes without needing to switch apps or accounts. The experience is fast, intuitive and built for crypto natives who want to use institutional-grade tools and leverage to explore traditional markets.

Whether you're trading AAPL, XAUUSD+ or EURUSD, the Bybit App offers simplicity, speed and flexibility — all from the palm of your hand.

Beginner

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Bybit TradFi: How to trade gold, stocks, FX & more on the Bybit App

USDC is now live on the XRP Ledger, expanding its native support to 22 blockchains.

Daily top performer — Solv Protocol (SOLV)

The S&P 500 rose 0.38% and is on track for weekly gains, as cooling inflation boosts Fed rate cut hopes, despite new tariff concerns. Gold surged above $3,425 amid rising Middle East tensions and growing expectations of Fed rate cuts, as investors seek safe-haven assets. The Coindesk Indices, which tracks the broader crypto market, fell 7.20%, with Bitcoin and Ether down 1.79% and 6.13%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is SOLV, up 5.9% after SolvBTC unlocks DeFi liquidity with new USD1 lending market on Lista DAO.

Solv Protocol (SOLV), founded in October 2020, is an on-chain Bitcoin reserve that lets BTC holders earn yield by swapping BTC or WBTC for SolvBTC, which can be used in DeFi or staked via liquid staking tokens across chains. With $2.7B TVL, it bridges Bitcoin and DeFi for over 590K users. 

, enabling SolvBTC holders to use their tokens as collateral to borrow USD1, a stablecoin on BNB Chain. This unlocks new liquidity and utility for SolvBTC without requiring users to sell their BTC, enhancing DeFi opportunities for both Solv and Lista communities.

Check out the latest prices, charts, and data of 

, expanding its native support to 22 blockchains. Circle highlights its use for enterprise B2B payments, DeFi liquidity, and financial infrastructure apps, offering faster, more transparent settlement options.

Yesterday, BTC spot ETFs saw total net outflows of $202 million, with GBTC posting a small inflow of $5.9 million while non-GBTC ETFs recorded $207.9 million in outflows.

TAC, a Layer-1 TON Adapter enabling EVM dApps on Telegram, is 

 its Genesis Soulbound NFT collection on June 17–18. The 10,000-supply mint is priced at 30 TON and is non-transferable. Eligible EVM contributors can check and whitelist their wallets for potential perks, possibly including a future airdrop.

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USDC expands to XRP Ledger, unlocking new use cases in payments and DeFi

In this article, we’ll explore how you can participate in the TON DeFi ecosystem and earn with Ethena.

The idea of earning passive income with crypto is always popular — and for a good reason. With Ethena now live on the TON blockchain, users can tap into a new world of yield opportunities. From staking to liquidity provision, Ethena's integration with TON creates multiple ways to grow your digital dollars. In this article, we’ll show you how to participate in the TON DeFi ecosystem and start earning with Ethena.

How to participate in the TON DeFi ecosystem

Before you begin earning rewards with Ethena, let’s first look at how you can participate in the TON DeFi ecosystem.

To begin, you’ll need a TON-compatible wallet that supports USDe and tsUSDe. Popular options include:

There are three ways to get USDe into your TON wallet:

Make sure you withdraw USDe to a TON wallet address that you control, and keep some TON in your wallet to cover transaction fees.

Once you have USDe, you can stake it to receive tsUSDe, the yield-bearing version of USDe on TON. Here’s how to do it in each wallet:

: Open the Wallet bot on Telegram, and tap on 

: Search for the MyTonWallet App bot on Telegram and launch the mini app.

: Launch the Tonhub app on your mobile device.

, and scan the QR code with your Tonkeeper wallet.

: Upon successful connection of your wallet, click on 

: Input the amount of USDe you would like to stake for tsUSDe. 

: The tsUSDe you receive from staking will automatically show up in your Tonkeeper wallet without any additional interactions.

How to earn with Ethena in the TON DeFi ecosystem 

Now that you’ve obtained USDe or tsUSDe, follow our guide below to find out how you can earn with either of these tokens in the TON DeFi ecosystem.

The simplest way to earn is by holding tsUSDe in major TON wallets. The Ethena protocol distributes dollar-based rewards to tsUSDe holders every eight hours, with a current APY of around 8%.

But that’s not all. You can also earn up to an extra 10% in Toncoin (TON) if you follow in-wallet instructions for boosted rewards, bringing your total potential yield to 15–20% APY.

: Stake USDe for tsUSDe in your wallet via 

: Follow any additional steps for boosted APY within the wallets.

You can also earn rewards using USDT by staking it into an Ethena-powered vault within the Telegram Wallet.

: Locate the Wallet feature on Telegram, either by typing @Wallet in the search bar or by tapping on the 

: Stake your USDT into the Ethena-powered vault and earn rewards regularly.

Alternatively, you can pair USDe or tsUSDe with USDT on major 

 (DEXs), such as STON.fi and DeDust, in order to earn swap fees, Ethena rewards and potential TON rewards.

: Add equal values of both tokens (USDe/tsUSDe and USDT) to minimize 

Ethena’s integration with TON is a powerful combo for anyone looking to earn steady yield in crypto. Whether you’re holding tsUSDe, staking USDT or contributing to DEX liquidity, there’s a strategy for every type of user. Start today and let your crypto dollars work for you!

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How to earn with Ethena in the TON DeFi ecosystem

Ethena has launched on TON and introduced tsUSDe, a reward-bearing, TON-native version of sUSDe, in order to bring passive earning opportunities to Telegram’s massive user base.

As Telegram’s ecosystem rapidly grows, so too does the opportunity to bring 

 (DeFi) to a wider global audience. The recent launch of Ethena on TON is a prime example, unlocking new ways for users to earn dollar-based yields while seamlessly tapping into Telegram’s enormous user base. In this article, we’ll learn about Ethena and TON, explore how they work together and show you how to earn with tsUSDe across the TON DeFi ecosystem.

Ethena is a synthetic dollar protocol that offers a crypto-native alternative to traditional stablecoins through its USDe and sUSDe assets.

Ethena enables users to hold and earn with USDe, a stable asset backed by a delta-neutral hedging mechanism, and sUSDe, which adds a yield-bearing layer. Now, with its integration into the TON blockchain, Ethena is expanding its reach beyond Ethereum to tap into Telegram’s billion-strong community.

 blockchain initially developed by Telegram and now maintained by the TON Foundation.

. Its native token, Toncoin (TON), powers transactions and staking. Thanks to its close integration with Telegram, TON is positioned as one of the most user-accessible blockchains today.

What sets TON apart is its direct access to Telegram’s user base. Since early 2025, Telegram has officially designated TON as its exclusive blockchain partner, solidifying a collaboration that began in 2023 with the rollout of TON-based mini apps.

Telegram’s distribution power, with over 1 billion monthly active users, gives any project built on TON instant visibility and scale. This makes the network a unique gateway to onboard Web 2.0 users into web3, especially in regions with high Telegram adoption.

Ethena’s integration with TON is more than just a technical milestone — it’s a strategic move to democratize access to DeFi and dollar-denominated yields. By launching on TON, Ethena makes it possible for users to interact with USDe natively within the Telegram ecosystem without needing to bridge across blockchains.

Users on Bybit can also withdraw USDe directly into any TON-compatible wallet, making it even easier to participate.

As part of the launch, Ethena introduced a new token: tsUSDe (TON-staked USDe). This is a TON-native version of sUSDe, meaning it carries the same reward-bearing mechanism, but is minted on the TON blockchain.

To obtain tsUSDe, users can simply stake USDe via Ethena’s staking interface with their selected TON networks. This unlocks earning opportunities directly within TON, without needing to interact with Ethereum or other chains.

The benefits of tsUSDe include the following:

How Ethena is powering the TON DeFi ecosystem

Ethena’s entry into TON marks one of the most important integrations in the network’s DeFi growth to date. As tsUSDe spreads across the ecosystem, users can already interact with it across a range of platforms — from wallets to lending apps. 

These integrations create a web of earning opportunities from staking and liquidity provision to lending and borrowing, all accessible through Telegram’s familiar interface.

The launch of Ethena on TON is more than just another chain expansion; it’s a step toward bringing stable DeFi opportunities to the masses, especially through the convenience of Telegram. With tsUSDe, users can now earn passively while exploring the TON ecosystem’s fast-growing 

If you're looking to diversify your earning strategies, or simply want an easier way to access DeFi, this integration is worth checking out. As more platforms begin to support tsUSDe, Ethena is well-positioned to become a core building block in the TON DeFi landscape.

Intermediate

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Ethena on TON: Boosting rewards for users

Bybit Learn

Altcoins

ATOM 2.0 has been gaining traction on crypto news, read on to find out what their new whitepaper and road map is about.

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The recent Cosmosverse event announced a highly anticipated Cosmos Hub white paper. Known as 

, the new road map goes through several key details on changes to the Cosmos Hub and how this would impact the 

This overall vision is known as the 'Internet of blockchains' and is coming to fruition with the implementation of this road map. Today, multiple sovereign blockchains are able to communicate with each other and improve the 

 is one prime example of a blockchain that has a 

 that allows you to swap various Cosmos assets that were sent in from other Cosmos chains and can eventually be integrated with other protocols. Another example would be 

 for the entire Cosmos ecosystem that leverages the interoperability and composability provided by Cosmos.

Now that you have some context, let's compare the difference between ATOM 1.0 and ATOM 2.0, and take a look at the future of Cosmos.

Building The Foundation Of Cosmos Hub — ATOM 1.0

The Cosmos Hub's initial role was to create the technologies and frameworks needed to kickstart the internet of blockchains, and thus it created the Cosmos SDK, IBC, 

, various interchain modules, etc, which are core open-source primitives for the blockchains that are now part of the Cosmos ecosystem. 

Note: ‘Cosmos Hub’ refers to the Layer 1 blockchain in the ‘Cosmos’ ecosystem, with 

as its governance token. 'Cosmos' refers to the ecosystem of various app chains with their own governance token.

Cosmos is also known as a Layer 0 blockchain that allowed other blockchains to be built on it. These blockchains are Cosmos chains and are built with the Cosmos SDK, which is a toolkit that helps developers make it easier to create customized 

 tailored to their needs without reinventing everything from scratch. 

The Cosmos SDK caught on and many developers went to build on it to create their own customized blockchain. For example, there are chains that are tailored for 

and Osmosis, or other chains that focus on specific features such as 

These are also known as app chains which as similar to 

. What makes them interesting is that because they are their own modular chain, activities that happen on each chain won't congest other chains unlike in 

, which is a monolithic chain. This means if a hyped NFT mint is happening on Stargaze, users can still do other transactions such as trading and yield farming on another chain such as Carbon, without having to pay insane gas fees like on Ethereum.

Now that the foundations of the internet of blockchains have been built with multiple blockchains live for quite some time and working together, and billions of capital locked across multiple chains, the Cosmos Hub is now moving on to a new role - helping a growing ecosystem of 

blockchains to flourish while maintaining relevance. 

This will be done using four new technology called Interchain Security (ICS), Liquid Staking, Interchain Scheduler, and Interchain Allocator that sits on top of the 

Interchain Security will transform the Cosmos Hub into a secure platform for others to build the next generation of interchain-native infrastructure and 

, paving the way for new cross-chain opportunities and innovation.

To explain what ICS is, we first need to briefly understand how blockchain security for Cosmos chains works. 

Cosmos blockchains are PoS blockchains, and thus their security is determined by the economic value of the staked assets from the chain validators. Basically, the higher the 

 of the token, the more validators there are, and the harder it is to attack the chain. An attacker would require more capital to take over or attack the network.

However, the issue is that maintaining a high market cap to prevent an attack is not easy for all blockchains, especially newer blockchains. When a new chain is created, it may still be finding its product-market fit and may also struggle to get validators as they may not see value in the chain and would not

their capital to buy the chain's PoS asset and stake it to secure it.

To counteract this, many new Cosmos chains initially offer high inflationary rewards to incentivize validators to buy and stake. But this creates high selling pressure on the token price over time, and it may repel investors from buying the token knowing that there is a lot of 

pressure. And over time, if the token market cap drops too much from dumping, it again faces an increased risk of attack, and the blockchain is back to round one again.

This is where Interchain Security comes in. Interchain Security allows the validator set of a bigger chain, known as a 

, to provide security to the smaller chain, known as a 

, in exchange, the provider chain receives some of the gas fees and staking rewards from the consumer chain.

For example, an established chain such as the Cosmos Hub can secure a newer chain like 

with the interchain security mechanism. This would allow the validator set on Cosmos to produce blocks on the Quicksilver chain. It also uses ATOM as a 

, so if a user misbehaves on the Quicksilver chain, their ATOM would automatically be slashed on the Hub.

The provider chain may also have its core functionality to be built on a consumer chain and receive financing for its infrastructure build-out, allowing it to cut down on its own development cost and time. 

Therefore, Quicksilver would be able to import the entire economic security of the Cosmos Hub, currently secured by billions worth of staked ATOM and one of the most secure validator sets in the Cosmos ecosystem, in exchange for 

 and staking rewards. These rewards would then be given to ATOM stakers, increasing the value accrual for ATOM as well as allowing the Cosmos Hub to use and integrate with Quicksilver's liquid staking functionality.

Additionally, ICS is purely optional and can be opted out of even after using it. This mechanism can be used for the early stages of a protocol to provide stakeholders with 

Just like how there are thousands of apps that people all over the world are using right now, in the future, if there are thousands of app chains that appear that are being secured by the Cosmos Hub validator set, it could generate a lot of value back to the ATOM token. 

Interchain Security also reduces the barriers and costs of entry for consumer chains and enables a number of potential applications, including: 

In summary, Interchain Security gives smaller chains a faster, easier, and cheaper path to market, helping to foster innovation and allowing more integrations and collaborative opportunities with other chains in Cosmos. 

The other technology layer is called Liquid Staking which will also help to provide secure economic scaling.

In PoS blockchains like Cosmos Hub, its staked assets are not able to be used, which affects cross-chain composability. Liquid staking would allow users to use their staked collateral, such as staked ATOM, as a liquid token that can be traded with and sent across other Cosmos chains.

This increases the user's capital efficiency by unlocking additional capital, while still securing the network as their ATOM remains staked. The concept is similar to liquid staked ETH from 

 (stETH), which was hugely popular and successful and was accepted as collateral by multiple 

It would be easy to imagine a liquid staked ATOM achieving a similar level of success in the cosmos ecosystem as well, allowing users to earn ATOM staking rewards while interacting with other DeFi protocols. Liquid staking would extend not only to ATOM but other PoS cosmos assets as well. 

While Interchain Security enables the reuse of the same validator set and staked collateral to secure additional state machines. Liquid Staking would enable the reuse of the same staked collateral for other purposes. 

Together, Interchain Security and Liquid Staking create a secure base layer for projects to build on, furthering the growth of Cosmos app chains and activities.

The Cosmos ecosystem is made up of various 

that list the same assets. ATOM can be on multiple chains, and as they trade in the market, their prices can vary from one chain to another, similar to how ATOM's price varies slightly across different exchanges. This introduces a lot of arbitrage opportunities, where arbitrageurs will find 

offering the same token but at different prices, and will arbitrage the token prices so that they average out and earn a profit in exchange. This is a type of maximal extractable value (MEV) opportunity. 

There are two other common forms of MEV apart from arbitrage:

This MEV market can be made more efficient, more secure, and more lucrative for Cosmos chains and their users. The interchain needs a secure block space market to avoid off-chain cartelization and more options for chains seeking to optimize the use of block space. 

Existing MEV solutions on Ethereum like Flashbots’ are off-chain markets, however, it lacks 

 transparency. Interchain Scheduler brings MEV markets on-chain, facilitating a fairer and more transparent system. 

The Cosmos Hub used ATOM to fund the development of Cosmos' core components to reach the success that it has today. Funding is key during the initial phases of any ecosystem. Thus, when the next 

 begins, the Cosmos ecosystem may have many new chains appearing. In order to sustain and see the full impacts of the rapid growth, the current approach to on-chain monetary coordination may not be efficient enough to facilitate the needs of these new chains. 

Hence the Interchain Allocator was created. It is a platform for allocating capital to delegated parties to incentivize long-term alignment by bootstrapping users and 

for new chains. Essentially it attempts to create more 'symbiosis' where the more 'Coin A' that Cosmos Hub holds in its treasury, and the more ATOM that 'Chain A' holds in its treasury, the more aligned they are in incentives and goals.   

The Allocator provides two tools that enable incentive-aligned communities to develop strategies for economic coordination on behalf of the Cosmos Hub: 

and use the Interchain Allocator to achieve its goals, which include: 

The ATOM token does not have a maximum supply and issues inflationary token rewards to incentivize a target supply of the amount of ATOM staked. 

For example, when many ATOMs are being staked and the ratio is above two-thirds of its total supply, it will reduce the inflation to a minimum of 7%, and if lesser ATOMs are being staked and the staking ratio is below two-thirds of the total supply, it will increase inflation as high as 20%. As of the time of writing, ATOM inflation rate is around 18% and a 

of 311.8 million tokens with a market cap of $3.6 billion.

The upcoming liquid staking feature will increase the capital efficiency of staked ATOM by allowing it to be utilized while still being staked. Thus, the current monetary policy is being modified as users do not have to choose between staking their ATOM or using it in other 

As such, a new monetary policy is proposed which involves a 

The transitory phase begins with a significant increase in issuance that lasts for 36 months (3 years) before reaching a steady issuance rate that lasts indefinitely. The issuance rate starts at 10 million ATOM per month before declining until an issuance rate of 300,000 ATOM per month. You can view the 

The goal is to gradually remove security subsidies, starting from the current rate and decreasing by 10% every month for 36 months. By the end of this period, it is hoped that revenue from Interchain Security will meet or exceed the original subsidy and that the small inflation of 300,000 ATOM per month is negligible. 

This initial heightened issuance is meant to bootstrap the new Cosmos Hub Treasury that will be used to support and expand the network for the next few years. 

However there are arguments that this new issuance will be detrimental to ATOM stakers as 2/3 of the inflation will go towards the treasury and only 1/3 of it will go to stakers, and during the steady phase, all of the issuances will go to the treasury and none to stakers. Not to mention, the existing treasury has at least $60 million according to their public wallets, and issuing 10 million ATOM at the current price is over $100 million in market cap which could cause investors to worry about dilution even though the bulk of it goes into the treasury and are not circulating. 

This has stirred up some debates which will hopefully be addressed down the line before the proposal gets implemented. 

Currently, Cosmos Hub’s transaction fees are sent to the distribution module and divided between the Community Pool, delegators, and validators. The implementation of Interchain Security will add another stream of revenue from each consumer chain to the distribution module, which will replace the current security subsidy. 

The Cosmos ecosystem has grown a lot and has come a long way from the initial phases of pre-IBC and individual chains unable to communicate with each other. There is now a vibrant ecosystem of cross-chain transactions and interoperability, and this composability will only increase as more cross-chain dapps are created. 

With the addition of interchain security, liquid staking, interchain scheduler, and allocator, there will be more value accrual towards ATOM stakers, although it would be difficult to predict how much value these features could generate and if it is enough to offset the inflation of ATOM. 

Cosmos ATOM 2.0 White Paper: The All-New Road Map Explained

Compete for 2,500 USDT USDT Every Week

Cosmos ATOM 2.0 White Paper: The All-New Road Map Explained

Grab Up to 5,000 USDT in Rewards

Compete for 2,500 USDT USDT Every Week

Grab Up to 5,000 USDT in Rewards