Aave DAO moves to commit 25,000 ETH as Kelp rsETH shortfall gets covered
Aave DAO has proposed a 25,000 ETH contribution to help cover the backing shortfall caused by the Kelp DAO exploit.Summary
Aave DAO service providers have initiated a proposal to commit 25,000 ETH toward rectifying the rsETH backing shortfall resulting from an April 18 bridge exploit of Kelp DAO. This contribution is part of a collaborative "DeFi United" recovery effort involving various industry protocols and individuals, including Lido DAO, Ether.fi, Golem, and individual pledges from Aave leadership.
Following the exploit, which left a significant gap in rsETH backing, the collective efforts of the DeFi community have effectively accounted for the shortfall. With the integration of Aave’s proposed contribution, additional pledges, and recovery mechanisms such as Mantle’s credit facility, the hole caused by the incident has been successfully filled.
(Source：Crypto Briefing)