PANews, October 22, reports that according to a proposal published on the ether.fi governance forum, 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 (CEXs). 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 indicates that the launch of weETH as collateral will expand its use cases in 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, increasing its liquidity. Furthermore, ether.fi plans to implement these incentives within the next 12 months and conduct promotional activities in collaboration with major CEXs. Voting on this proposal will last for 4 days until October 26.