A former TON Foundation executive is launching Affluent – a cryptocurrency investment app on Telegram offering yields and lending. Affluent is a money market protocol built on Telegram-linked blockchain. Affluent is co-founded by ex-TON Foundation director Justin Hyun. It aims to introduce trustless crypto asset management to Telegram, allowing users to benefit from decentralized finance (DeFi) lending and yields without associated complexities. Built natively on TON, Affluent implements key features like Strategy Vault and the Vault Manager system, which are designed to automate asset allocation and yield strategies. By depositing assets into a vault, users let Affluent manage their assets via a combination of automated smart contracts and expert management. The user deposits are auto-spread across different lending markets for optimized returns.

The protocol enable users to interact with a clean and simple interface, while expert-managed vaults work in the background to optimize for long-term performance and safety. The app will deliver a unique combination of TradFi and DeFi experience. Affluent will allow users to earn interest in a manner as simple as depositing assets with a single click via Telegram. The crypto lending industry is known to be vulnerable to different issues, including the highly volatile nature of crypto assets. Affluent does not overlook this problem. The Affluent protocol has been audited by Trail of Bits, an industry-leading security audit firm. The Affluent’s design inherently embeds robust risk management via the implementation of its isolated lending pools. The isolated pool structure reduces the risk of bad debt for a specific lending pool if any arises, protecting the entire protocol from being affected. The Affluent’s Vault Managers are highly sophisticated institutions which constantly monitor utilization rates to optimize user deposits. Flash loans are also not a risk due to TON’s asynchronous design.