Ethena Labs (ENA), a synthetic dollar protocol backed by BitMEX founder Arthur Hayes, is announcing a partnership with President-elect Donald Trump’s decentralized finance (DeFi) project.
In a new announcement on the social media platform X, Ethena Labs says it has entered into a strategic partnership with World Liberty Financial (WLFI).
[adinserter block="1"]According to Ethena Labs, the collaboration will bring over Ethena Staked USDe (sUSDe) – a yield-bearing token that inventors can stake – to the DeFi platform.
“A governance proposal has been submitted to add sUSDe to WLFI’s upcoming Aave instance as a core collateral asset,
Should it pass, this proposal will enable World Liberty Financial users to benefit from sUSDe rewards and also WLFI token rewards This integration will increase stablecoin liquidity and utilization rates on the protocol, as sUSDe’s integration has on Aave’s Core instance.”
However, the proposed changes must go through Ethena’s governance process before implementation.
“We propose the implementation of sUSDe as the first new collateral asset to the World Liberty Financial market…
Should this proposal pass and be implemented, the Ethena Foundation is willing to co-incentivize supply of sUSDe to come to the instance via its points program, making World Liberty Financial users eligible for additional Ethena Rewards on top of sUSDe APY.”
World Liberty Financial launched earlier this year. At the time, the project released a roadmap, noting that its goal was to spread stablecoins pegged to the US dollar and the concept of decentralized finance around the world, and help those disenfranchised by banks.
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