Donald Trump-backed World Liberty Financial and Ethena are warming to cooperation starting with the sUSDe implementation. WLF and Ethena are planning a ‘long-term co-operation’ starting with the implementation of the return-generating token sUSDe. World Liberty Financial’s management will be asked to decide on the implementation this week. ENA price reacted partially positively to this development. The token made a leap from its lows.
Donald Trump-backed DeFi project collaborates with Ethena!
World Liberty Financial, the new Donald Trump-backed DeFi project, is collaborating with Ethena this time. Thus, it continues to get closer to well-established crypto firms. The two firms said on Wednesday that they are looking for ‘long-term cooperation’ that will begin with the implementation of Ethena’s return-generating token sUSDe. In this context, they underlined the following points in the statement:
As a first step in the collaboration, Ethena and WLFI will explore the potential application of sUSDe as the first new token that can be used as collateral in the WLFI protocol powered by Aave. sUSDe’s inclusion in WLFI’s upcoming Aave instance… will enable this instance to capitalise on Ethena’s large TVL and user base.
What does the co-operation involve?
World Liberty Financial will ask its management to decide on the measure this week. ‘In the event that the WLFI Aave instance is not approved by management or sUSDe is not approved as a collateral asset, WLFI and Ethena will continue to explore opportunities to co-operate with the intention of finding integration points,’ the parties said regarding the development.
The DeFi platform has been gaining momentum since the former president prepared to return to the White House in November. Late last month, World Liberty Financial appointed Tron founder Justin Sun as an advisor. Meanwhile, as you follow from Kriptokoin.com, HTX, the crypto exchange linked to Justin Sun, invested $ 30 million in World Liberty. Sun’s consultancy also followed. World Liberty Financial and Ethena also made the following statement about cooperation:
sUSDe has seen strong growth in the Aave markets since joining Aave Core and Aave’s Lido instance in mid-November, reaching ~$1.2bn in assets on offer in less than a month. The integration will also help to simultaneously increase stablecoin deposits on the instance, driven by sUSDe’s popularity as a collateral asset for borrowing stablecoins such as USDC and USDT.
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