ChainCatcher reports that KelpDAO has fulfilled its committed contribution to the recovery fund, providing $2,000 ETH in treasury funds to the DeFi United Recovery Initiative, led by Aave, to restore rsETH’s peg and enable the system to return to normal operations. This one-time injection is intended to bring rsETH back to its par exchange rate. Following the event on April 18, DeFi United, in collaboration with multiple ecosystem participants—including Mantle, Consensys, Arbitrum, Lido Finance, and LayerZero—developed a recovery roadmap encompassing bridge treasury recapitalization, oracle functionality restoration, and addressing funding gaps in affected markets. Kelp stated that its contribution helps accelerate the overall recovery process. Kelp emphasized that its internal commitment prior to any public announcement was “rsETH holders will not be left behind,” and this contribution directly reflects that pledge. As funds from various parties are gradually deployed, rsETH’s collateral backing will be restored incrementally, and the company will continue to provide updates to the community.
KelpDAO contributes 2,000 ETH to DeFi United's Recovery Fund for rsETH
ChaincatcherShare
Summary
KelpDAO has contributed 2,000 ETH to DeFi United’s recovery fund to support the restoration of rsETH’s peg. Led by Aave, this initiative responds to the aftermath of a DeFi exploit on April 18. DeFi United, in collaboration with Mantle, Consensys, and others, is focusing on bridge vaults, oracles, and market gaps. KelpDAO’s ETH contribution underscores its commitment to rsETH holders. As funds are deployed, collateral support will normalize, with regular updates provided to the community.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.