KelpDAO Supports DeFi United Recovery Efforts with 2,000 ETH Contribution

KelpDAO has made a significant contribution to the DeFi United recovery plan, providing 2,000 ETH from its treasury funds to support the restoration of peg support for rsETH.

The decision to invest in the recovery fund is a direct result of KelpDAO's commitment to ensuring that rsETH holders are not left behind following the April 18 bridge exploit.

DeFi United has collaborated with multiple ecosystem participants, including Mantle, Consensys, Arbitrum, Lido Finance, and LayerZero, to formulate a recovery path. This plan includes recaptialization of the bridging treasury, restoration of oracle functionality, and addressing funding gaps in affected markets.

The coalition has successfully raised over $302 million to date, with significant contributions from Consensys, Joseph Lubin, Aave DAO, and LayerZero. The funds will be used to address the shortfall caused by the exploit and promote a return to normal operation for rsETH.