LayerZero, the bridging protocol whose infrastructure was exploited in the April 18 rsETH attack, announced it is contributing 5,000 ETH to DeFi United's recovery effort. It is also supplying an additional 5,000 ETH to support Aave market liquidity, bringing its total commitment to 10,000 ETH. LayerZero had signaled its intent to contribute last week but withheld the amount until today's announcement.

DeFi United's total fundraise has surpassed 137,708 ETH, currently worth approximately $315 million. The Aave DAO leads contributions with 25,000 ETH, followed by EtherFi and Stani Kulechov personally. Compound Finance has pledged 3,000 ETH, Lido Finance 2,500 ETH, KelpDAO 2,000 ETH, and Golem 1,000 ETH.

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Consensys and Joseph Lubin have committed up to 30,000 ETH in financial support toward the DeFi United rsETH recovery effort. SharpLink is also participating in a strategic advisory capacity. The contribution is particularly significant given that the 30,765.67 ETH frozen by the Arbitrum Security Council will not be liquid for approximately 49 days pending governance approval.

The rsETH backing shortfall is now effectively covered by a combination of previously announced and newly confirmed commitments. These include contributions from Aave DAO, Lido, EtherFi, Ethena, Mantle, and Compound Finance, which committed 3,000 ETH. The Babylon Foundation is also depositing 3 million USDT into Aave, and Tron is depositing 20 million USDT into Aave to assist with liquidity. The stablecoin deposits have helped ease utilization rates slightly, allowing USDT lenders to begin withdrawing.

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Aave founder Stani Kulechov announced that the DeFi United initiative has secured sufficient funds to restore the full backing of rsETH following the April 18 LayerZero bridge exploit. Execution remains pending, subject to governance votes and the finalization of indicative agreements. Aave has also aligned with KelpDAO and LayerZero on the technical steps required to carry out the recovery plan.

Over the weekend, Aave submitted a governance proposal to the Arbitrum DAO requesting the release of 30,765.67 ETH frozen by the Arbitrum Security Council in connection with the exploit. If approved, the funds would be directed into a 2-of-3 Gnosis Safe controlled by Aave Labs, KelpDAO, and Certora, and applied solely toward restoring rsETH's backing. The full AIP governance process is estimated to take approximately 49 days to complete. Aave expects to release a detailed recovery plan and next steps for affected users in the coming days.

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Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.