DeFi United latest rescue update: Over 100k ETH raised

BlockBeats news on April 26: The DeFi United ecosystem rescue initiative led by Aave continues to move forward. Arbitrum DAO has released 30,765 ETH that was frozen after the rsETH incident on April 18. The designated donation address has now accumulated a total of 100,360 ETH to address the collateral asset shortfall caused by the rsETH incident on April 18.

This plan aims to restore rsETH-backed assets through multi-party coordination, stabilize the market, and prevent the spread of cross-protocol bad debt. The funds will be used to support the recovery of collateralization ratios and, in conjunction with the relevant protocols, gradually advance the normalization of market operations.

Current main commitments or participants include: Arbitrum DAO releasing 30,765 ETH frozen after the rsETH incident on April 18; Mantle planning to contribute 30,000 ETH; AaveDAO planning to contribute 25,000 ETH; Aave founder Stani Kulechov has confirmed providing 5,000 ETH; EtherFi plans to provide 5,000 ETH; Lido plans to provide 2,500 stETH; GolemFoundation and related projects totaling 1,000 ETH; and others. In addition, LayerZero, Ethena, FraxFinance, InkFoundation, and others have also confirmed participation, but the specific amounts have not yet been disclosed.

It should be noted that the progress of this rescue still depends on multiple external key conditions, including KelpDAO restoring rsETH redemptions and the Arbitrum security committee releasing the frozen assets. The overall recovery timeline and effectiveness remain uncertain.

ETH0.59%
AAVE-0.35%
MNT0.84%
ENA-0.42%
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