Lido proposes to use up to $5.8 million worth of stETH to fill the Kelp funding gap.

robot
Abstract generation in progress
ME News, April 24 (UTC+8), Lido has submitted a proposal to allocate up to 2,500 stETH (approximately $5.8 million) from the DAO to cover the rsETH asset shortfall caused by the recent attack on Kelp DAO.
Lido noted that the LayerZero-based exploit has led to an insufficient rsETH reserve, triggering a chain reaction in the DeFi ecosystem, including increased interest rate pressure, strained lending markets, and the risk of forced liquidations for certain leveraged strategies.
The proposal emphasizes that these funds will only be used as part of a full recovery plan, provided that the overall shortfall can be fully covered.
Earlier, the approximately $292 million attack on Kelp DAO had already impacted Aave, causing bad debt issues, and its total value locked (TVL) once dropped by nearly $8 billion. (Source: ChainCatcher)
STETH0.07%
ZRO2.26%
AAVE-2.78%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
ShanDingMediaSiyu
· 2h ago
Just go for it 👊
View OriginalReply0
  • Pinned