As a seasoned crypto investor with a knack for spotting promising partnerships, I find myself intrigued by the recent alliance between Ethena and World Liberty Financial. The integration of Ethena’s sUSDe token into World Liberty’s Aave instance has the potential to revolutionize stablecoin liquidity and utilization rates.
On December 18th, the decentralized finance (DeFi) platform known as Ethena revealed a strategic alliance with World Liberty Financial, which has been endorsed by former President Donald Trump.
This collaboration intends to combine Ethena’s sUSDe token, a staked form of its “synthetic dollar” USDe, with World Liberty Financial’s Aave platform. By doing so, users will have the opportunity to deposit USDe and earn rewards in both sUSDe and World Liberty Financial’s WLF token.
Per an announcement posted to X.com:
“Should it pass, this proposal will enable World Liberty Financial users to benefit from sUSDe rewards and also WLF token rewards. This integration will increase stablecoin liquidity and utilization rates on the protocol, as sUSDe’s integration has on Aave’s Core instance.”
Proposal to onboard sUSDe
On December 18, the research account from Ethena Labs put forth a formal request to the World Liberty Financial group for permission to introduce sUSDe as the initial collateral asset in the World Liberty Financial market.
As per a post on the community forum, the risk analysis for Aave Core and Lido instances regarding sUSDe has been completed by sUSDe. If the proposal is accepted, the Ethena Foundation plans to motivate the supply of sUSDe to these instances through their points program, thereby enhancing the dual rewards system for users.
The Trump bump?
At a challenging moment in World Liberty Financial’s journey, this collaboration is taking place. The financial institution is still finding its stride amongst industry veterans, as per previous reports from CryptoMoon. Notably, the President-elect’s cryptocurrency venture experienced setbacks during its initial rollout.
During its initial 24-hour trading period following the launch on October 16, a total of $12.7 million worth of WLFI tokens, representing 848.63 million units, were sold. This left an extra 19.1 billion coins (equivalent to around $287 million) yet to be sold.
On November 26th, World Liberty experienced a significant surge in funds when Justin Sun, a well-known figure in the cryptocurrency world who’s had his fair share of community debate, acquired the most WLF tokens, valued at approximately $30 million.
In just a few days following Sun’s acquisition, the company promptly began utilizing its fresh funds by buying large quantities of Ethereum (ETH), Aave (AAVE), Enjin Coin (ENJ), Ontology Gas (ONO), Chainlink (LINK), and wrapped Bitcoin (cbBTC) for approximately $30 million at the time of purchase.
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2024-12-18 21:15