Ethena Taps LI.FI to Enable Cross-Chain Swaps on 14 Blockchains

Ethena, a prominent synthetic dollar protocol, has announced the integration of LI.FI, a well-known platform providing cross-chain swap infrastructure and bridging services. The collaboration aims to streamline the procedure of purchasing the Ethena’s flagship governance token $ENA and the synthetic dollar $USDe across multiple blockchains. The platform revealed this integration in a recent X post.

Ethena Integrates with LI.FI to Expand $ENA and $USDe’s Access Across Supported Chains

Formerly, the consumers seeking the conversion of assets like $DAI, $USDC, and $USDT into $ENA or $USDe had to go through a fragmented multi-step. This complicated procedure involved many bridges and applications. However, the latest integration of LI.FI makes this experience seamless. With the inclusion of the cross-chain swap tool of LI.FI lets Ethena users swap several stablecoins from fourteen supported chains with only one click. They include the notable players like Arbitrum, Optimism, and Solana.

This simplified functionality complements Ethena’s objective of establishing a scalable and decentralized economic solution. Its flagship product $USDe, operates as a synthetic dollar that leverages a delta-hedged strategy, taking into account $SOL, $ETH, and $BTC, as well as a reserve that includes liquid stablecoins such as $USDT and $USDC.

Establishing User-Friendly and Connected DeFi Landscape

As per Ethena, LI.FI’s integration is driven by its commitment to making crypto-native money widely accessible. This endeavor eliminates the onboarding complications to unlock a broader participation in Ethena’s ecosystem. Together, both the entities lead to a relatively consumer-friendly and connected DeFi sector.