MantleCore submits MIP-34 proposal, plans to provide AAVE DAO with a loan of 30k ETH.

CryptoWorld News reports that Wu has learned that mantlecore has submitted a draft proposal for MIP-34, proposing to authorize the mantle treasury to provide a maximum of 30k ETH loans to AAVE DAO, to address bad debt caused by the Rseth bridge vulnerability incident on April 18, 2026.
The loan term can be up to 36 months, with an interest rate of Lido + 1% annualized or determined through negotiation by the execution team, allowing for early repayment without penalty.
On April 18, the Rseth bridge of Kelp DAO was attacked; the attacker exploited a configuration vulnerability in the LayerZero bridge to mint 116.5k Rseth tokens, worth approximately $292 million, and collateralized 89,567 Rseth tokens to borrow about $190 million in assets.
LlamaRisk reports estimate that AAVE’s potential bad debt ranges from $123.7 million to $230.1 million.
The draft also proposes that AAVE will add 5% of protocol revenue and AAVE tokens with a fair market value of no less than $11 million as collateral, and mantle will be entrusted with 130k AAVE tokens to participate in governance.
This proposal is currently under discussion and has not yet entered formal voting.