Lido proposes 2,500 stETH to the rsETH relief fund.


Total hole is 112,204 rsETH unbacked (~$258M at current ETH price).
So we have:
- Arbitrum froze 30,766 ETH from the exploiter (~$71M)
- Lido 2,500 stETH (~$5.75M)
- Aave has $181M treasury: $62M ETH correlated, $52M stablecoins, $54M in AAVE (probably won't use it as it dumps price). So ~$114M realistically deployable?
No number committed yet.
Even if Aave puts up the full $114M, you're at $191M covered. Gap still ~$67M.
Not great not terrible.
Kelp and LayerZero caused this (whatever has more fault) but Aave suffers the most. Lido, too.
Kelp and L0 are yet to publicly committed $$$ but Kelp keeps posting some vague posts saying nothing at all. ugh.
And Lido only deploys if the fund is fully raised! There's still a gap.
If it isn't, their stETH isn't used and EarnETH ends up exposed to 9k ETH in losses.
@justinsuntron got some $67M USD to spare?
STETH-1.54%
ETH-1.97%
ARB-0.31%
AAVE0.07%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin