Aave Announces DeFi United Relief Fund After Kelp Exploit Leaves rsETH Underbacked

Aave announced the DeFi United relief fund after the April 18 Kelp exploit left rsETH underbacked by more than 100,000 ETH. Lido Finance was named as the first public participant, and Lido contributors proposed up to 2,500 stETH, worth about $5.7 million, for the fund. Aave also paused rsETH reserves across Ethereum Core, Arbitrum, Base, Mantle, and Linea.

ETH-2.31%
STETH-2.27%
ARB-1.61%
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