weETH Expands Borrowing Capabilities on Ether.fi and SparkLend
weETH Expands Borrowing Capabilities on Ether.fi and SparkLend
🔓 weETH Breaks Free
Ether.fi launches new borrowing features for weETH holders:
- Deposit weETH as collateral in Borrow Mode
- Use for real-world spending via card payments
- Dynamic borrowing power tied to market movements
SparkLend removes weETH from isolation mode, enabling:
- Broader borrowing beyond just stablecoins
- Increased borrowing capacity at scale
- Access to ETH and other assets as loan options
Note: Crypto assets carry risk and borrowing limits fluctuate with market conditions.
EtherFi's Dine Different Campaign Generates $480K in First Week
EtherFi's **Dine Different campaign** reached $480,000 in spending during its first week, with new users earning cashback rewards. **Key details:** - New users collectively spent over $480K in the campaign's opening week - Participants earned thousands in cashback rewards - Referral program offers 10% cashback on friends' spending through April This follows EtherFi's previous Ride & Dine campaign, which distributed over $80K in USDC rewards to users. [Learn more about EtherFi](http://ether.fi)
Frax Finance Launches FRXUSD Stablecoin with Treasury Backing
**Frax Finance introduces FRXUSD**, a USD-pegged stablecoin maintaining a 1:1 dollar peg through overcollateralization. **Key features:** - Fully backed by tokenized U.S. Treasuries - Designed to share value with DeFi protocols rather than extract it - Aims to provide sustainable liquidity to partner platforms The protocol positions FRXUSD as a safer alternative to centralized stablecoins, emphasizing its treasury-backed structure and DeFi-friendly approach.
Developer Joins Open Gas Initiative Cohort
A developer announced their participation in the **initial Open Gas Initiative cohort**, expressing pride in being selected for this Ethereum-focused program. The Open Gas Initiative appears to be a new program aimed at addressing gas-related challenges on the Ethereum network. Being part of the initial cohort suggests this developer is among the first participants in what could be an important infrastructure development effort. This follows the developer's previous involvement in Ethereum-based projects, indicating continued commitment to the ecosystem's growth and optimization.
Ether.fi Launches Travel Booking Platform with 10% Cashback Rewards
**Ether.fi has expanded into travel booking** with a new platform at travel.ether.fi offering competitive rates for holiday destinations. **Key features:** - 10% cashback on bookings - Claims to offer the cheapest rates available - Research-backed pricing verification This builds on their existing hotel booking service that previously offered 5% cashback through their mobile app. Users could book directly through the Ether.fi app after joining their Club program. **The travel platform represents Ether.fi's continued expansion** beyond traditional DeFi services into consumer-facing products with crypto rewards integration.
Ether.fi Users Spend $2.21M in Single Day During Cashmas Promotion
**Ether.fi's cash spending reaches $2.21 million in one day** during their "Cashmas" promotion campaign. The platform is offering a **10% cashback referral program** where users can: - Refer friends to earn 10% back on their spending - Split 20% cashback between referrer and new user - Participate through their cash promotion portal The high spending volume demonstrates strong user engagement with the holiday-themed cashback incentive program. Users can access the promotion at [ether.fi/app/cash/promotion/cashmas](https://www.ether.fi/app/cash/promotion/cashmas). *Take advantage of the Cashmas promotion to earn cashback on referrals.*