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Ethena Labs (ENA), an artificial greenback protocol backed by BitMEX founder Arthur Hayes, is saying a partnership with President-elect Donald Trump’s decentralized finance (DeFi) mission.
In a brand new announcement on the social media platform X, Ethena Labs says it has entered right into a strategic partnership with World Liberty Monetary (WLFI).
In keeping with Ethena Labs, the collaboration will deliver over Ethena Staked USDe (sUSDe) – a yield-bearing token that inventors can stake – to the DeFi platform.
“A governance proposal has been submitted so as to add sUSDe to WLFI’s upcoming Aave occasion as a core collateral asset,
Ought to it cross, this proposal will allow World Liberty Monetary customers to profit from sUSDe rewards and in addition WLFI token rewards This integration will enhance stablecoin liquidity and utilization charges on the protocol, as sUSDe’s integration has on Aave’s Core occasion.”
Nevertheless, the proposed modifications should undergo Ethena’s governance course of earlier than implementation.
“We suggest the implementation of sUSDe as the primary new collateral asset to the World Liberty Monetary market…
Ought to this proposal cross and be applied, the Ethena Basis is keen to co-incentivize provide of sUSDe to return to the occasion by way of its factors program, making World Liberty Monetary customers eligible for extra Ethena Rewards on prime of sUSDe APY.”
World Liberty Monetary launched earlier this yr. On the time, the mission released a roadmap, noting that its objective was to unfold stablecoins pegged to the US greenback and the idea of decentralized finance all over the world, and assist these disenfranchised by banks.
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