On Monday, Affluent, a new cryptocurrency investment application, announced its official launch as a next-generation decentralised finance (DeFi) protocol built natively on Telegram.
The platform is formerly known as Factorial Finance during its alpha phase and is built on The Open Network (TON) blockchain, which is closely integrated with Telegram’s ecosystem.
The company aims to tap into Telegram’s billion-user ecosystem to deliver a streamlined, one-tap gateway to sophisticated DeFi services.
Affluent brings DeFi access via Telegram
The project is led by co-founder Justin Hyun, a former director of the TON Foundation, who emphasises in an announcement with Cointelegraph the platform’s commitment to simplifying DeFi, bringing real and trustless asset management.
“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.
The platform is designed to eliminate the need for clunky wallets and fragmented apps, offering a unified interface within Telegram that aims to make DeFi investment as straightforward as a single tap.
The firm’s key innovations include Strategy Vault and the Vault Manager system, which are engineered to automate asset allocation and optimise yield strategies for users.
“By depositing assets into a vault, users let Affluent manage their assets via a combination of automated smart contracts and expert management,” the announcement stated.
This intelligent system automatically spreads user deposits across various lending markets, targeting optimised returns while maintaining a balance with human oversight. Additionally, the platform utilised a hybrid approach to combine adaptive human expertise in risk management with simplified yield generation and Proof-of-Reserve transparency.
The project co-founding team
The co-founding team includes Hyung Lee, who brings a wealth of experience in traditional finance (TradFi) options trading. Lee articulates Affluent’s approach as a blend of TradFi and DeFi, aiming to create a new mechanism for earning interest that is as simple as a single-click deposit through Telegram.
“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.
The platform views itself as more than just another DeFi startup. The team emphasises that it is a blueprint with code, capital, and conviction.
“A new financial engine is coming to Telegram. And Affluent is the protocol powering it all.”
This underscores their belief in the transformative potential of their platform within the financial space. To incentivise early adoption and engagement, Affluent is also launching a points program, with the first action being a deposit into the TON Multiply Vault.
This strategy aims to foster a community and reward users for their participation in the platform’s growth.
Why did the company choose Telegram?
The platform’s decision to launch on Telegram is essentially strategic and represents a game-changer for crypto investment. The messaging giant offers a massive global audience, potentially reaching over a billion users, providing an unparalleled distribution channel for the new platform.
By building Affluent as a Telegram Mini App, the company bypasses the need for separate downloads, offering seamless, one-tap access directly within the familiar Telegram interface.
This integration tackles common DeFi complexities, making institutional-grade yields accessible and intuitive.