PANews reported on October 22 that a proposal released by the ether.fi governance forum indicates that ether.fi plans to allocate up to 10 million ETHFI tokens to promote its staking product Wrapped eETH (weETH) as collateral for perpetual contracts on centralized exchanges (CEX). The proposal aims to incentivize CEX users through various promotional activities (such as trading competitions, deposit contests, and reward giveaways) to drive the growth and adoption of weETH.

The proposal states that the launch of weETH as collateral will expand its use cases in both the DeFi and CEX markets, enhancing the liquidity and utility of weETH. Additionally, by establishing partnerships with major CEXs, ether.fi hopes to further strengthen the market positioning of weETH and provide opportunities for arbitrage and basis trading to increase its liquidity. Furthermore, ether.fi plans to implement these incentives within the next 12 months and conduct promotional activities in collaboration with major CEXs. The voting for this proposal will last for 4 days until October 26.