DeFi United Rescue Progress: 69,589 ETH Raised, Multi-Party Collaboration to Fill rsETH Gap

On April 25, the DeFi United ecological rescue initiative, led by Aave, continues to advance. The designated donation address has raised a total of 69,589 ETH to address the collateral asset gap caused by the rsETH incident on April 18. The plan aims to restore the backing assets of rsETH through multi-party collaboration, stabilize the market, and prevent the spread of bad debts across protocols. The funds will be used to support the recovery of collateral rates and work with relevant protocols to gradually normalize the market. Current major commitments or participants include: Mantle proposing to contribute 30,000 ETH, AaveDAO proposing to contribute 25,000 ETH, Aave founder Stani Kulechov confirming a contribution of 5,000 ETH, EtherFi proposing to provide 5,000 ETH, Lido proposing to provide 2,500 stETH, and Golem Foundation and related projects totaling 1,000 ETH, among others. Additionally, LayerZero, Ethena, FraxFinance, InkFoundation, and others have confirmed their participation, though specific amounts have not yet been disclosed. It is important to note that the progress of this rescue still depends on several external key conditions, including KelpDAO’s restoration of rsETH redemptions and the Arbitrum security committee’s release of frozen assets, leading to uncertainty regarding the overall recovery time and effectiveness.