Kelp rsETH Recovery Makes Progress, Remaining Gap Around 89,500 ETH

ETH1,64%
AAVE2,09%
ARB1,53%
MNT-0,03%

Gate News message, April 24 — KelpDAO announced progress on rsETH holder recovery efforts since April 18, working with Aave and ecosystem partners. The initial shortfall was 163,200 ETH; Kelp has recovered 40,300 rsETH (approximately 43,000 ETH equivalent), while the Arbitrum Security Council secured an additional 30,700 ETH, leaving a remaining gap of approximately 89,500 ETH.

Mantle, Stani Kulechov, EtherFi, Lido, and Golem have publicly committed to contributing a combined 43,500 ETH toward closing the gap. Kelp is working with these partners to formalize their contributions.

The protocol emphasized that rsETH holders remain the priority throughout the recovery process.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

Aave, Kelp, LayerZero Seek $71M Frozen ETH Release on Arbitrum

A coalition of major DeFi protocols including Aave Labs, Kelp DAO, LayerZero, EtherFi, and Compound filed a Constitutional AIP on the Arbitrum forum Saturday requesting the network's DAO release approximately $71 million in frozen ETH for the rsETH recovery effort known as DeFi United. The Arbitrum

CryptoFrontier1h ago

Aave, Kelp, LayerZero Propose Releasing $71M in Frozen ETH to Support rsETH Recovery

Gate News message, April 26 — A coalition of major DeFi protocols led by Aave Labs, joined by Kelp DAO, LayerZero, EtherFi, and Compound, filed a Constitutional AIP on Saturday morning asking the Arbitrum DAO to release approximately $71 million in frozen ETH to support DeFi United, a cross-protocol

GateNews3h ago

Ethereum Foundation Sells 10K ETH To Bitmine OTC Deal

Ethereum Foundation sells 10K ETH through OTC to fund research, development, and ecosystem grants under treasury strategy. Bitmine expands holdings through direct deals, nearing target to control about 5% of Ethereum total supply. OTC transactions enable large crypto transfers with

CryptoFrontNews6h ago

ETH Liquidation Cascade: $635M Long Positions at Risk Below $2,217, $504M Shorts Exposed Above $2,430

Gate News message, April 26 — According to Coinglass data, if Ethereum falls below $2,217, cumulative long liquidations across major CEX platforms would reach $635 million. Conversely, if ETH surges above $2,430, cumulative short liquidations would total $504 million.

GateNews7h ago

Whale Liquidates 1,351 ETH and Opens $50.6M Bitcoin Short on Hyperliquid

Gate News message, April 26 — A whale address beginning with 0x310 opened a 16x leveraged Bitcoin short position on Hyperliquid over the past 30 minutes, with a notional value of $50.6 million across 653 BTC at an average price of $77,470. The liquidation price stands at $81,308, making it the

GateNews8h ago

Aave, Kelp, LayerZero Seek $71M Frozen ETH Release from Arbitrum DAO

Aave Labs, Kelp DAO, LayerZero, EtherFi, and Compound filed a Constitutional AIP on the Arbitrum forum Saturday morning requesting the network's DAO release approximately $71 million in frozen ETH to support rsETH recovery efforts following last week's $292 million Kelp DAO exploit. The proposal

CryptoFrontier9h ago
Comment
0/400
No comments