Summary
- Compound has proposed providing up to 3,000 ETH for the rsETH recovery effort.
- The funds will be deployed through DeFi United to help restore rsETH's collateral value and compensate affected users.
- With participation from the Avalanche Foundation, Renzo and other crypto projects, the total fundraising amount has exceeded $300 million.
Forecast Trend Report by Period
The decentralized finance ecosystem is mounting a joint response to restore rsETH after the Kelp DAO incident.
Compound has proposed providing up to 3,000 ETH for the rsETH recovery effort, Wu Blockchain reported on April 27. The final amount will be determined by a governance vote and the terms of the recovery plan.
The funds are set to be deployed through DeFi United, a joint DeFi recovery initiative. Multiple protocols are participating in the project, which aims to restore rsETH's collateral value and compensate affected users.
The Avalanche Foundation has also expressed support for the initiative. Renzo joined the effort by supplying more than $10 million of liquidity to the Aave V3 stablecoin market.
Multiple crypto projects have contributed funds to DeFi United, bringing the total amount raised to more than $300 million, the report said.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
