The Late Night DeFi campaign has come to an end, leaving a lasting mark on TON’s decentralized finance (DeFi) landscape. Traditionally, DeFi has been the domain of whales, with everyday users left on the sidelines. TON set out to change that. With Late Night DeFi, our goal was to bring new users into the ecosystem by making DeFi more engaging, rewarding, and easy to navigate.

Launched in September 2024, TON Society, TBook, and top DeFi projects, including Tonstakers, bemo, STON.fi, DeDust, Storm Trade, and EVAA, collaborated on this initiative, powered by Soulbound Tokens (SBTs). Through livestreams, offline events, and AMAs, the campaign expanded DeFi education and engagement while delivering strong results.

Campaign by the numbers

By the end of 2024, Late Night DeFi generated over 1.9 million TON in total value locked (TVL), attracting 94,176 participants who collectively claimed over 40,000 SBTs.

• Tonstakers Strategist: 9,042 claims
• Bemo Strategist: 7,815 claims
• Storm Trader: 5,968 claims
• STON Herald: 5,852 claims
• DeDust Herald: 5,649 claims
• EVAA Pawnbroker: 5,706 claims

Notably, 13,594 participants (14.5%) held USDT, while 33,735 (35.98%) held at least one major TON memecoin, such as NOT, DOGS, CATI, WAT, HMSTR, or Durev. This overlap between DeFi players and gamers sets the stage for deeper GameFi-DeFi integration in 2025.

A major highlight: the ongoing airdrops airdrop distribution. Over $100,000 has been allocated so far in two phases—the first phase in October 2024 rewarded early contributors to Late Night DeFi TVL, while the second phase in early 2025 will honor those with exceptional engagement, further cementing TON DeFi’s growth. Project-specific rewards were also included, with Storm Trade offering 50,000 STORM tokens, bemo distributing $10,000 in stXP, and EVAA providing exclusive XP rewards, each strategically designed to enhance user participation and foster deeper engagement within the ecosystem. More airdrops are coming. You can follow the latest airdrop news on TON’s social channels.

What made Late Night DeFi a success?

1）SBTs: a driving force for community engagement

The Late Night DeFi campaign proved that SBTs can be a powerful lever to drive community contribution. Implementing Compressed SBTs (cSBTs) helped cut campaign costs by over 50%, allowing for larger-scale incentivization without the hefty price tag. Bundling minting proofs into a single daily transaction reduced gas fees, enabling projects to mint millions of tokens with minimal cost. Less cost, more reach, bigger impact.

Verifiable SBTs (vSBTs) took this a step further. Unlike standard SBTs, vSBTs validated real DeFi contributions, ensuring that genuine participants were rewarded. This approach directly contributed to the 1.9 million TON in TVL, showcasing how SBTs can drive engagement while building trust.

2）Late Night DeFi: bringing the TON community closer together

Late Night DeFi was a TON-wide collaboration, setting a new benchmark for DeFi initiatives. By pooling resources and expertise from TON Society, TBook, and leading DeFi projects, the campaign made DeFi more accessible, transparent, and rewarding.

What’s next for TON DeFi?

Now, it’s time to carry Late Night DeFi’s momentum into 2025. More users, more projects, more TVL, and more airdrops. The best of TON DeFi is yet to come.

As DeFi on TON continues to evolve, expect deeper integrations and expanded use cases that make DeFi even more accessible. Whether you’re a trader, liquidity provider, or just getting started, there’s never been a better time to dive into TON DeFi.