The post How Ethena Partnership With Trump-Backed WLFI Aided ENA Price Surge? appeared on BitcoinEthereumNews.com.

Ethena Labs has announced a strategic partnership with World Liberty Financial (WLFI), a decentralized finance (DeFi) project supported by President-elect Donald Trump. This collaboration aims to improve stablecoin liquidity and enhance user rewards on WLFI’s platforms. A governance proposal has been submitted to integrate Ethena’s stablecoin, sUSDe, as core collateral on WLFI’s new Aave platform. However, the move is a strategic direction for both platforms as they seek to consolidate their place in the DeFi sector. WLFI users will be benefited with better funding. They would also have chances to be incentivized in sUSDe and WLFI tokens. This move comes after sUSDe posted $1.2 billion in assets on Aave Core in a single month. Key Details of the Collaboration The collaboration between Ethena and WLFI consists of getting sUSDe to be the first collateral asset added in WHFI’s Aave protocol. The proposal is likely to receive a vote by WLFI’s governance community during this week. If passed, sUSDe will act as a security that will be used by users to acquire other stablecoins such as USDC and USDT. According to Ethena Labs, this integration will significantly boost liquidity and utilization rates within WLFI’s ecosystem. The growing adoption of sUSDe in DeFi platforms aligns with Ethena’s goal to expand its market presence and user base. Ethena has entered into a strategic partnership with @worldlibertyfi A governance proposal has been submitted to add sUSDe to WLFI’s upcoming Aave instance as a core collateral asset pic.twitter.com/jgjd8QGWDS — Ethena Labs (@ethena_labs) December 18, 2024 “Introducing sUSDe into WLFI’s forthcoming Aave instance would enable the instance to benefit from the large TVL and user base of Ethena,” the two companies stated. Ethena also highlighted the report as forming a long-term partnership, implying more synergies are in the planning. Although the proposal has not been given…

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Filed under: News - @ December 23, 2024 8:21 am