• DeFi United secures sufficient funds.

• Consensys commits 30,000 ETH.

• Bitmine crosses 5m ETH in holdings.

• Hayden buys back hayden.eth.

EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn

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. Read more →

Consensys and Joseph Lubin committed up to 30,000 ETH in financial support toward the DeFi United rsETH recovery effort, with SharpLink joining 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 until the governance process is completed. The Babylon Foundation is also depositing 3M USDT and Tron is depositing 20M USDT into Aave to assist with liquidity. Read more →

Bitmine Immersion Technologies crossed 5 million ETH in holdings, announcing a total of 5,078,386 ETH valued at approximately $12 billion at current prices. The milestone maintains Bitmine as the largest Ethereum treasury in the world and represents 4.21% of total ETH supply. Bitmine has a stated goal of acquiring 5% of all ETH in circulation. Of the 5.078 million ETH held, 3,701,589 ETH (~73%) is currently staked, generating annualized staking revenues of $264 million at a yield of 3.033%. Read more →

• Protocol devs hangout

• Validator consolidation stats

• Hayden buys back hayden.eth

• Lido EarnETH close to resolution

• Sync Committee visualizer

• ObolClaw v0.8 release

• Privy releases actions

• Zerion integrates LIFI

• EtherFi next chapter meeting

• Litecoin chain reorg

• Monolith goes live

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

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.

EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn

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

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.

EarnUSD is a stablecoin vault by Lido for earning transparent, onchain USD-denominated rewards. Get started today at stake.lido.fi/earn

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