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Latest Progress on DeFi United Rescue: Over 100,000 ETH Raised

On April 26, the DeFi United ecological rescue initiative led by Aave continues to advance. The Arbitrum DAO has released 30,765 ETH that was frozen after the rsETH incident on April 18. The designated donation address has now raised a total of 100,360 ETH to address the collateral asset gap caused by the rsETH incident. The plan aims to restore the backing assets of rsETH through multi-party collaboration, stabilize the market, and prevent the spread of bad debts across protocols. The funds will be used to support the restoration of collateral ratios and to gradually normalize the market in coordination with relevant protocols. Current major contributors or participants include: Arbitrum DAO releasing 30,765 ETH, Mantle proposing to contribute 30,000 ETH, AaveDAO proposing to contribute 25,000 ETH, Aave founder Stani Kulechov confirming a contribution of 5,000 ETH, EtherFi proposing to provide 5,000 ETH, Lido proposing to provide 2,500 stETH, and Golem Foundation and related projects totaling 1,000 ETH, among others. Additionally, LayerZero, Ethena, FraxFinance, and InkFoundation have also confirmed their participation, though specific amounts have not yet been disclosed. It is important to note that the progress of this rescue still depends on several external key conditions, including KelpDAO's restoration of rsETH redemptions and the Arbitrum Security Council's release of frozen assets, leading to uncertainty regarding the overall recovery time and effectiveness.

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