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Ethena Labs enters into strategic partnership with Trump’s World Liberty Financial
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The protocol for decentralized finance (DeFi) Ethena Labs announced a strategic partnership with World Liberty Financial (WLF)a company supported by donald trump. The collaboration aims to integrate the token sUSDea staked version of USDeto the WLF ecosystem. In this way, the partnership seeks to increase liquidity and offer double rewards to users.
Users of World Liberty Financial may deposit USDe and receive rewards simultaneously in sUSDe and in the native token WLF.
This integration will take place on WLF’s Aave instance, which promises to boost stablecoin liquidity and improve utilization rates within the protocol.
In a post on XEthena Labs highlighted that, if approved, this proposal will allow World Liberty Financial users enjoy the rewards in sUSDe and WLF.
Ethena: the formal proposal
THE Ethena Labs Research submitted an official proposal to the World Liberty Financial community on December 18, requesting approval to implement the sUSDe as the first collateral asset in the WLF market. The proposal emphasized that sUSDe has already gone through risk analyzes on Aave Core instance and Lido.
If approved, the Ethena Foundation committed to encouraging the offer of sUSDe through its points programcreating a double rewards stream for the participants.
The partnership comes at a challenging time for World Liberty Financial. The project is still struggling to consolidate itself among the major players in the sector. During its launch in October 16WLF sold only US$12.7 million in tokens, leaving 19.1 billion coins (evaluated in US$287 million) stranded.
The situation began to change in November 26thwhen the crypto entrepreneur Justin Sun became the largest single holder of WLF tokens by purchasing US$30 million in assets.
Days later, World Liberty Financial used the capital to acquire ETH, AAVE, ENA, ONDO, LINK and cbBTCtotaling US$30 million in purchases.
Ethena Labs enters into strategic partnership with Trump’s World Liberty Financial
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Ethena Labs enters into strategic partnership with Trump’s World Liberty Financial
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Ethena Labs enters into strategic partnership with Trump’s World Liberty Financial
