Mantle proposes 30,000 ETH loan to help Aave cover Kelp exploit bad debt

Mantle proposed lending up to 30,000 ETH to Aave DAO to help absorb bad debt tied to last week’s $292 million Kelp DAO exploit. The MIP-34 draft would limit the facility to the rsETH shortfall on Aave V3 and set indicative pricing at Lido staking APR plus 1%, subject to negotiation. An Aave incident review projected about $124 million or $230 million in bad debt under two scenarios.

MNT0.84%
ETH-0.91%
AAVE0.3%
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