DeFi Protocols Unite to Restore rsETH Backing
- Eight crypto protocols, including DeFi entities like Lido DAO and LayerZero, pledged a total of 43,000 ETH.
- The initiative aims to support the recovery of rsETH following recent market disruptions.
- Participants in the pledge include Mantle, EtherFi Foundation, Golem Foundation, Ethena, Ink Foundation, and Tyrdo.
- This collaborative effort highlights the commitment of multiple organizations to stabilize the Ethereum ecosystem.
The collective action from these protocols underscores a significant response to recent challenges faced by the DeFi sector. By pooling resources together, they aim to reinforce confidence in the backing of rsETH.
With a combined contribution of over $80 million worth of ETH, this initiative marks a pivotal moment for DeFi recovery efforts. (Source)
