Aave has updated regarding the Arbitrum DAO proposal, stating that the court modified the restraining order on May 8 to permit the Arbitrum DAO to conduct on-chain voting and to transfer the ETH frozen due to the rsETH incident to Aave LLC, after which the restraining order will apply to Aave LLC. The revised constitutional AIP retains the previously approved intent by the Arbitrum DAO to pursue recovery, and the related ETH will still be used for rsETH recovery. Aave also noted that, on May 1, plaintiffs in an unrelated case served the restraining order on the Arbitrum DAO, after which Aave LLC filed an emergency motion to vacate.
Court Allows Arbitrum DAO On-Chain Vote to Transfer Frozen ETH to Aave LLC
TechFlowShare
Summary
According to TechFlow, on May 8, a court amended a restraint order, permitting Arbitrum DAO to conduct an on-chain vote and transfer frozen ETH to Aave LLC in connection with the rsETH incident. The revised AIP maintains the original plan to recover rsETH, with ETH still designated for that purpose. Aave filed an emergency motion to vacate the restraint after a plaintiff served a CFTC-related restraint notice on May 1 in a separate case, underscoring heightened scrutiny of risk-on assets.
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