The U.S. president-elect Donald Trump, who once scoffed at cryptocurrencies, has not only significantly changed his stance but is now fully supporting decentralized finance (DeFi). The World Liberty Financial (WLFI) he endorses has recently stirred discussions by announcing a partnership with the stablecoin protocol Ethena, with the initial plan focusing on introducing Ethena's yield-bearing stablecoin sUSDe and further developing a long-term collaborative layout.
WLFI and Ethena pointed out in a statement that sUSDe, as Ethena's core yield-bearing stablecoin, has performed strongly since its launch on the Aave platform in mid-November this year, attracting over $1.2 billion in assets in less than a month. It has not only gained the trust of users but has also become a popular collateral asset for lending USDC and USDT.
WLFI noted that as the first step in the collaboration, both parties will explore introducing sUSDe into WLFI's upcoming Aave instance as the first token available as collateral on the WLFI protocol, and hope to attract more stablecoin deposits through Ethena's user activity and large-scale TVL.
WLFI co-founder Zak Folkman emphasized: "This collaboration marks an important step in our journey towards promoting global financial equality, and we look forward to providing more convenient and valuable financial services."
According to the joint statement, relevant proposals will be submitted to the WLFI community for a vote within this week. However, even if the proposal does not pass or sUSDe is not approved as a collateral asset, both parties will still explore other collaboration opportunities and continue to seek integration possibilities.
Wednesday's cooperation announcement was made after WLFI purchased $600,000 worth of ENA tokens.
In this regard, Chase Herro, co-founder of World Liberty Financial (WLFI), explained that the purchase of ENA tokens "is not directly related to this collaboration, but indicates WLFI's belief in the long-term viability and success of Ethena."
