Mantle proposes up to 30,000 ETH loan to address Aave bad debt from Kelp exploit
The Block
Mantle has proposed a 30,000 ETH loan to Aave DAO to help mitigate bad debt resulting from the recent Kelp DAO exploit.Summary
The Mantle Core Contributor Team has introduced proposal MIP-34, offering a strategic credit facility of up to 30,000 ETH to Aave DAO. This loan aims to resolve significant bad debt created on Aave V3 following the $292 million Kelp DAO exploit. The initiative serves to strengthen the relationship between the two protocols while generating yield for the Mantle Treasury. The loan would be collateralized by Aave tokens and revenue, and it is part of a broader industry-wide recovery effort known as "DeFi United," which includes contributions from other major DeFi stakeholders.
(Source：The Block)