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Donald Trump’s WLFI Partners Ethena Labs, What’s Cooking?
In a surprising move, World Liberty Financial (WLFI), a project backed by none other than Donald Trump, has announced a partnership with decentralized finance (DeFi) platform Ethena Labs. The unexpected collaboration aims to boost stablecoin utility and liquidity on WLFI’s Aave-based protocol.
According to the announcement, users of WLFI will now be able to stake their USDe tokens and earn rewards in both sUSDe and WLF tokens. This innovative approach is expected to enhance liquidity and promote stablecoin usage within the platform, echoing Ethena Labs’ success with Aave’s core instance.
Ethena Labs has proposed staked USDe as a new collateral asset for WLFI’s market, citing its rigorous risk evaluations on platforms such as Aave Core and Lido. Incentivizing this initiative through its points program, Ethena plans to support dual rewards for participants who stake their tokens.
The partnership marks an important milestone in the development of WLFI, which has faced challenges since its launch on October 16. Despite a slow start, the project gained momentum after Justin Sun invested $30 million in WLF tokens on November 26. Following this significant investment, WLFI allocated $30 million to acquire assets such as ETH, AAVE, and LINK, signaling efforts to strengthen its market position.
As the partnership takes off, it remains to be seen whether this new collaboration with Ethena Labs will mark a turning point for WLFI.
Source: www.cryptonewsz.com
