Gate News message, April 25 — Aave service providers have proposed a governance vote to contribute 25,000 ETH, valued at approximately $58 million, from the protocol’s DAO to DeFi United, a coordinated relief effort aimed at restoring backing for rsETH following last week’s Kelp DAO exploit. The proposed contribution would help close the remaining shortfall from the incident, where an attacker minted unbacked rsETH through a compromised LayerZero bridge and used it as collateral on Aave to borrow real assets, leaving the protocol with significant bad debt.
Other major ecosystem protocols have also committed support. Lido DAO and Ether.fi proposed contributions of 2,500 ETH and 5,000 ETH, respectively, on Thursday. Aave’s Senior Vice President of Engineering, Emilio Frangella, committed 500 ETH personally, while founder and CEO Stani Kulechov contributed 5,000 ETH. Separately, Mantle proposed a low-interest credit facility of up to 30,000 ETH to help Aave absorb any remaining bad debt.
Including contributions from Golem, BGD Labs, and individual users, the DeFi United fund now stands at approximately 69,534 ETH, or nearly $161 million. According to user DCF GOD, if all proposed contributions pass, the exploit hole may be filled, potentially reducing the amount Aave would need to borrow from Mantle. These coordinated relief efforts reflect ongoing concerns about DeFi security, as repeated exploits have weighed on institutional interest in the sector.
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