DeFi United Rescue Progress: Raised 69,589 ETH, multiple parties collaborating to fill the rsETH gap

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BlockBeats News, April 25 — The DeFi United ecosystem rescue initiative led by Aave continues to advance. Currently, the designated donation address has raised a total of 69,589 ETH to address the collateral shortfall caused by the rsETH incident on April 18.

This plan aims to restore rsETH-backed assets through multi-party collaboration, stabilize the market, and prevent the spread of bad debt across protocols. The funds will be used to support the recovery of collateralization ratios and work with relevant protocols to gradually normalize the market.

The main commitments or participants include: Mantle proposing to contribute 30,000 ETH, AaveDAO proposing to contribute 25,000 ETH, Aave founder Stani Kulechov confirming to provide 5,000 ETH, EtherFi proposing to provide 5,000 ETH, Lido proposing to provide 2,500 stETH, Golem Foundation and related projects totaling 1,000 ETH, and others.

Additionally, LayerZero, Ethena, Frax Finance, Ink Foundation, and others have also confirmed participation, but specific amounts have not yet been disclosed.

It should be noted that the progress of this rescue still depends on several external key conditions, including KelpDAO restoring rsETH redemptions, the Arbitrum Security Council releasing frozen assets, etc. The overall recovery time and effectiveness remain uncertain.

ETH-0.43%
AAVE-0.75%
MNT1.06%
ZRO-2.76%
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