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Arbitrum DAO proposes to transfer 30,766 ETH ($70 million) to recover from the KelpDAO hack.
Voting has begun on unlocking the 30,766 ETH that the Arbitrum Security Council previously froze after the attack on KelpDAO. After unlocking, the funds are proposed to be transferred to the DeFi United initiative.
DeFi United is an initiative created after the KelpDAO hack. The goal: raise funds and restore the collateral for rsETH, with participants already contributing or loaning more than $311m in ETH and stablecoins.
The vote will last until May 7. If the proposal is approved, Arbitrum DAO will become the largest participant in DeFi United.
#$ARB