Lido proposes allocating up to $5.8 million in staked ETH to back Kelp exploit shortfall
The Block
Lido Labs has proposed contributing 2,500 staked ETH to help address the significant financial deficit caused by the recent $292 million Kelp exploit.Summary
Lido Labs is seeking DAO approval to allocate up to 2,500 stETH, valued at approximately $5.8 million, to mitigate the backing deficit for Kelp DAO's rsETH following a $292 million exploit. The proposal emphasizes that Lido’s contribution is conditional on a broader, fully funded recovery package involving multiple stakeholders. The initiative aims to prevent further contagion and minimize losses for users across DeFi venues, with other entities like the EtherFi Foundation also pledging support to address the estimated 100,000 ETH deficit.
(Source：The Block)