DeFi Protocols Unite in Response to Kelp Hack

DeFi protocols have joined forces in an effort to restore the backing of Restaked Ether (rsETH) following a significant hack on the Kelp restaking platform. The incident resulted in a loss of approximately $293 million, leading to a liquidity crunch that has prompted collaboration among various DeFi protocols.

The affected platforms, including Aave and Mantle, have initiated efforts to address the crisis by pledging Ether to restore the rsETH backing. As part of this initiative, known as 'DeFI United,' multiple strong indicative commitments have been made to join forces and achieve the strongest possible outcome for users.