AAVE announces rsETH recovery technical plan, intending to simultaneously restore collateral support and damaged positions

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ChainCatcher message, AAVE announces the implementation plan for rsETH recovery technology, which aims to restore rsETH’s full collateral support and normal market operation through three phases: supplementing ETH collateral, clearing affected positions, and restoring market parameters.

The plan shows that DeFi United has coordinated to obtain the necessary ETH commitments for recovery, which will be restored by converting and injecting in batches into the bridging locked collateral contract to support rsETH; at the same time, a governance proposal is planned to clear affected positions on Aave and Compound, recover approximately 107k rsETH-related excess collateral, and gradually lift the asset freeze status.

AAVE-0.02%
ETH1.23%
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