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Ethena Labs Joins Forces with World Liberty Financial for sUSDe on Aave
In a groundbreaking move, Ethena Labs has partnered with World Liberty Financial (WLFI) to integrate its sUSDe stablecoin into WLFI’s Aave-based lending protocol. This collaborative effort aims to boost DeFi liquidity and user rewards, further solidifying the companies’ positions as major players in the decentralized finance space.
As per a recent tweet by Ethena Labs, the partnership will allow users to earn rewards in both sUSDe and WLFI tokens if approved by governance proposal. This development is expected to increase liquidity and optimize the utilization of funds within the Aave-based lending protocol.
Ethena Labs has recently introduced USDtb, a stablecoin backed by BlackRock’s BUIDL fund. This new offering holds over 90% of its reserves in tokenized U.S. government debt and cash equivalents, ensuring a stable value for users. The launch of this product alongside the integration of sUSDe highlights Ethena’s commitment to providing secure and reliable stablecoins within the DeFi space.
WLFI, associated with President-elect Donald Trump, has been actively shifting its stablecoin reserves into Ethereum (ETH), recently purchasing $50 million worth of ETH through decentralized exchanges like CoW Swap. This move positions ETH as WLFI’s largest reserve asset.
As a result of this partnership, both Ethena Labs and WLFI aim to strengthen their roles in DeFi by increasing liquidity and user rewards.
Source: http://www.crypto-news-flash.com
