Summary
- Bybit said it would back Mantle (MNT)'s proposal to support Aave as its largest holder and supporter.
- Mantle proposed a loan of as much as 30,000 Ether (ETH) to support Aave after losses from the rsETH hack.
- Mantle said the Ether loan would carry interest and include risk controls such as collateral and partial Aave governance participation rights.
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Bybit, which has close ties to Mantle, voiced strong support for Mantle's proposal to assist Aave after the rsETH hack.
Bybit Chief Executive Officer Ben Zhou wrote on X on April 24 that the exchange would vote in favor of the proposal as Mantle's largest holder and supporter. When Bybit was hacked, the industry came together to help, he wrote, adding that it is right to support one another in difficult times.
Mantle earlier proposed a loan package to support Aave, which is facing a liquidity crunch following the KelpDAO hack.
Specifically, Mantle proposed lending Aave as much as 30,000 Ether. The funds would be used to help cover losses stemming from the rsETH hack, under an arrangement that would pay interest.
The proposal also includes risk controls, including collateral and the securing of partial rights to participate in Aave governance.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
