Consensys and Lubin Support DeFi Recovery Efforts with ETH Pledge

Consensys and Joseph Lubin have joined forces with DeFi United's recovery initiative, committing up to 30,000 ETH to help repair rsETH collateral. The Kelp DAO bridge exploit drained approximately $293 million from the ecosystem on April 18, causing significant damage to lending markets.

Aave has emphasized the importance of this backing in a governance update, stating that 'without this support, the current recovery process would be difficult to advance' given the remaining collateral shortfall. The DeFi United framework combines protocol donations, credit lines, and treasury support into a unified playbook for handling systemic collateral failures.

The coalition has already secured 14,570 ETH in pledges from ecosystem protocols, including EtherFi, Lido, and Ethena. Additionally, Mantle has extended a credit facility of up to 30,000 ETH, while Aave DAO is considering a proposal to contribute 25,000 ETH from its treasury.

Strategic advisory on the recovery architecture is being provided by Sharplink, which has helped design multi-tranche funding structures and collateral backstops in previous Ethereum ecosystem initiatives. Consensys is leveraging its position as a core Ethereum infrastructure provider to coordinate stakeholder communication and ensure a consistent roadmap for unlocking frozen positions.