DeFi United Raises $303 Million to Address Kelp DAO Exploit
- DeFi United has raised approximately $303 million, equivalent to 132,650 Ethereum (ETH), to potentially restore rsETH after the Kelp DAO exploit.
- Contributions include a significant donation of 30,000 ETH from Consensys and support from the Avalanche Foundation.
- The relief effort is contingent on governance proposals across various projects, including one on Arbitrum, expected to take around 49 days.
- Aave’s liquidity was severely affected by the exploit, with efforts like Tron DAO and HTX contributing $20 million in Tether’s USDT stablecoin to ease the strain.
- The utilization rate for markets related to USDT and Circle’s USDC stablecoin is around 92%, showing a slight improvement from previous weeks.
