According to Lido, the Snapshot vote on EarnETH’s first-loss protection mechanism below 1% threshold has been approved. User losses will be fully covered by Lido Earn’s first-loss mechanism, and the attacker’s held rsETH has been liquidated with proceeds transferred to the DeFi United rescue plan.
The EarnETH vault is expected to reopen shortly after Kelp protocol resumes operations, allowing users to resume deposits and withdrawals. Lido noted that both EarnETH and EarnUSD vaults have continued generating yield during the freeze period.
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