Ethena Labs (ENA), a synthetic dollar protocol backed by BitMEX founder Arthur Hayes, announces a partnership with newly elected President Donald Trump’s decentralized finance (DeFi) project.
In a new announcement on the social media platform X, Ethena Labs say it has entered into a strategic partnership with World Liberty Financial (WLFI).
According to Ethena Labs, the partnership will bring Ethena Staked USDe (sUSDe) – a revenue-bearing token that inventors can stake – to the DeFi platform.
“A board proposal has been submitted to add sUSDe to WLFI’s upcoming Aave instance as a core collateral,
If passed, this proposal will allow World Liberty Financial users to take advantage of sUSDe rewards and also WLFI token rewards. This integration will increase stablecoin liquidity and protocol utilization rates, as sUSDe’s integration has done on Aave’s Core instance.
However, the proposed changes must first go through Ethena’s governance process before being implemented.
“We propose the implementation of sUSDe as the first new collateral for the World Liberty Financial market…
Should this proposal be adopted and implemented, the Ethena Foundation is prepared to co-incentivize sUSDe’s offer to come to the agency through its points program, which will make World Liberty Financial users eligible for additional Ethena Rewards on top of sUSDe APY.”
World Liberty Financial was launched earlier this year. At the time, the project released a roadmap, noting that the goal was to spread stablecoins pegged to the US dollar and the concept of decentralized finance around the world, helping those disenfranchised by the banks.
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Generated image: Midjourney