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Kelp Fulfills Commitment to Recovery Fund Donations, Gradual Restoration of rsETH Reserves to Begin
On May 1, Kelp announced that it has fulfilled its commitment to donate to the recovery fund. The company stated that as donations from various parties led by Aave for DeFi United are received, the reserve support for rsETH will gradually be restored. Kelp made a one-time donation of 2,000 ETH from its treasury to DeFi United, aiming to restore the nominal exchange rate of rsETH and fully recover the system. The recovery plan for rsETH includes funding for the cross-chain lockbox, restoring oracle functionality, and clearing deficits in affected markets. Kelp expressed gratitude to its partners in the recovery fund, including Mantle, Consensys, Arbitrum, ether.fi, Lido Finance, LayerZero, and Compound, and committed to keeping the community updated on progress.