Donald Trump, the President-elect of the United States, has partnered his decentralized finance (DeFi) project 'World Liberty Financial (WLFI)' with the DeFi project Ethena Labs.
On the 18th (local time), WLFI announced on X (formerly Twitter) that it will introduce the 'sUSDe' token of Ethena Labs to its lending platform. According to The Block, WLFI plans to expand the liquidity of stablecoins on the DeFi platform and strengthen rewards for users.
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sUSDe is used as collateral asset to borrow stablecoins such as USDT. It is the first token to be used as collateral in the WLFI protocol.
Meanwhile, DeFi platforms have been bustling since Trump's victory in the US presidential election last month. WLFI and Ethena said that sUSDe was onboarded to the DeFi platform Aave last month and recorded a total value locked (TVL) of about $1.2 billion in less than a month.
As of 3:48 pm on the 19th, sUSDe is trading at $1.13 on CoinMarketCap.
- Haeyeon Kang, Reporter
- haeyeon41@rni.kr
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