Ethena, a decentralized finance (DeFi) protocol, announced a strategic partnership with Donald Trump-backed World Liberty Financial on December 18.
The partnership aims to integrate Ethena’s sUSDe token (a staked version of the USDe “synthetic dollar”) with World Liberty Financial’s Aave instance, allowing users to deposit USDe and receive rewards in both sUSDe and World Liberty’s WLF tokens. Let’s do it.
Ethena Labs announces partnership with X.com. source: Ethena Lab
According to an announcement posted on X.com:
“If this proposal passes, World Liberty Financial users will be able to benefit from sUSDe rewards and WLF token rewards. “Just as sUSDe’s integration into Aave’s core instance, this integration will increase the protocol’s stablecoin liquidity and utilization.”
sUSDe Onboard Offer
The Ethena Labs Research account submitted a formal proposal to the World Liberty Financial community on December 18, requesting approval to implement sUSDe as “the first new collateral asset in the World Liberty Financial market.”
According to a post on the community forum, sUSDe has already passed risk analysis for Aave Core and Lido instances. If this proposal goes through, the Ethena Foundation said it will “co-ordinately encourage the provision of sUSDe to instances through a points program” to support a dual reward stream for users.
relevant: Ethena’s USDe surpasses DAI to become the 3rd largest stablecoin.
Trump bump?
This partnership comes at a turbulent time for World Liberty Financial, where it has yet to find its footing among established industry players. As Cointelegraph reported, the president-elect’s cryptocurrency business efforts ended in failure upon launch.
In the first 24 hours after launch on October 16, only 848.63 million WLFI coins (equivalent to $12.7 million based on pre-sale price) were sold, and unsold coins amounted to 19.1 billion (equivalent to approximately $287 million).
On November 26, the company received an influx of cash when Justin Sun, a cryptocurrency entrepreneur and somewhat controversial figure in the community, became World Liberty’s largest single token holder after purchasing $30 million worth of WLF.
Less than a week after acquiring Sun, the company spent capital purchasing approximately $30 million worth of ETH, AAVE, ENA, ONDO, LINK, and cbBTC at the time of purchase.
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