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Donald Trump’s WLFI Partners Ethena Labs, What’s Cooking?
In a surprising turn of events, World Liberty Financial (WLFI), a project backed by none other than former US President Donald Trump, has announced a strategic partnership with DeFi platform Ethena Labs. This alliance aims to enhance stablecoin utility and liquidity through the incorporation of Ethena’s staked USDe token into WLFI’s Aave-based platform.
As part of this collaboration, users will be able to stake their USDe tokens and earn dual rewards in both sUSDe and WLF tokens. The integration is expected to improve liquidity and stablecoin utilization on the protocol, mirroring Ethena’s success with Aave’s core instance.
WLFI’s recent proposal suggests that Ethena’s sUSDe token has already undergone rigorous risk evaluations on platforms like Aave Core and Lido. Should the proposal be approved, Ethena plans to incentivize the initiative through its points program, supporting dual rewards for participants.
It is worth noting that WLFI has not had an easy ride since its launch on October 16. The project saw a lackluster debut, with only $12.7 million worth of its WLF tokens sold during its initial sale. However, the tide appeared to turn when Justin Sun, a well-known figure in the crypto world, invested $30 million in WLF tokens on November 26. Following this investment, WLFI allocated around $30 million to acquire assets such as ETH, AAVE, and LINK, signaling efforts to strengthen its market position.
As this partnership with Ethena Labs is the latest development for WLFI, it remains to be seen whether this collaboration will mark a turning point for the project.
Source: www.cryptonewsz.com
