• DeFi United relief vehicle for rsETH.

• Mantle extends 30,000 ETH loan to Aave.

• Lido pledges 2,500 stETH to relief fund.

• Ethereum Security QF round goes live.

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

Aave service providers launched DeFi United, a deficit relief initiative designed to fully cover the under-backed rsETH liquid staking token from KelpDAO. EtherFi committed 5,000 ETH, Lido 2,500 ETH, and Golem 1,000 ETH, while Aave founder Stani Kulechov personally pledged 5,000 ETH (~$11.6M). The rsETH shortfall is estimated at 118,000 ETH, with Arbitrum's recovered 30,000 ETH potentially directed toward the fund. Kulechov also called on THORChain to contribute the ~$450,000 in swap fees generated from the DPRK's 75,700 ETH in laundering activity. Read more →

Lido DAO introduced a governance proposal to allocate 2,500 stETH to the Aave-led relief vehicle covering the rsETH shortfall. Lido's EarnETH vault has direct exposure to rsETH, and depositors would face an estimated 9% loss if the deficit is not resolved, partially covered by Lido's first-loss protection program. Read more →

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Mantle published a governance proposal offering Aave DAO a loan of up to 30,000 ETH to address bad debt from the KelpDAO LayerZero exploit. The loan carries a variable rate equal to the Lido staking yield plus 1% APR, with a 36-month maturity and no early repayment penalty. Mantle would also be delegated 130,000 AAVE tokens for governance participation, with proceeds directed toward MNT burns or ecosystem funding. The proposal is open for community discussion ahead of a formal Snapshot vote. Read more →

The $1 million Ethereum Security quadratic funding round is live on Giveth, featuring roughly 100 projects improving Ethereum and L2 security. TheDAO Security Fund is allocating a 500 ETH matching pool. The round is the largest QF round hosted on Giveth to date. Read more →

• ACDE #235 minutes

• EtherFi security hardening

• Lido update for EarnETH

• Succinct launches ZCAM

• Safe quarterly report

• EIP-8141 explainer

• EIP-8182 for private transfers

• MEGA TGE on April 30

• Op-geth deprecates May 31st

• ZKsync Lite shuts down May 4th

• Local ENS gateway stack

• Fluid Lite limited instant withdrawals

• Bitwarden identified a malicious package

• Tether freezes $344m USDT

• Blockchain Association letter to SBC

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

Mantle, an Ethereum L2, published a governance proposal offering a loan of up to 30,000 ETH to Aave DAO to help address bad debt from the KelpDAO LayerZero exploit. The loan would carry a variable interest rate of the Lido staking yield rate plus 1% APR, with a maturity of up to 36 months and early repayment permitted without penalty.

The loan allows the Mantle Treasury to receive yield to generate a positive risk-adjusted return on unallocated treasury assets, with proceeds directed toward MNT burns or ecosystem funding. Mantle would also be delegated 130,000 AAVE tokens for governance participation during the loan period. The proposal is currently open for community discussion ahead of a formal Snapshot vote. The Aave v3 Mantle WETH market currently faces the largest estimated bad debt among all impacted markets.

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 service providers have launched a deficit relief initiative called DeFi United, designed to fully cover the underbacked rsETH liquid staking token from KelpDAO. The initiative includes contribution pledges from several ecosystem projects: EtherFi has committed 5,000 ETH, Lido 2,500 ETH, and Golem 1,000 ETH.

Aave founder Stani Kulechov also personally pledged 5,000 ETH (approximately $11.6 million), emphasizing that Aave represents his life's work. Additional participants, including Ethena, Ink Foundation, Tydro, and LayerZero, have announced participation, though have not specified their contribution amounts.

The rsETH asset is facing an estimated shortfall of 118,000 ETH following the KelpDAO exploit executed by the DPRK. Arbitrum also recovered 30,000 ETH connected to the exploit, which could be directed toward DeFi United. 75,700 ETH has already been swapped by the DPRK via THORChain. Kulechov called for THORChain to contribute the roughly $450,000 in swap fees generated from those transactions to support DeFi United.

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.