Aave Joins Multi-Directional Arbitrum DAO Proposal to Request Release of Frozen ETH to Restore rsETH Support
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Aave Joins Multi-Directional Arbitrum DAO Proposal to Request Release of Frozen ETH to Restore rsETH Support
According to an official Aave announcement, Aave service providers—alongside protocols including EtherFi, KelpDAO, LayerZero, and Compound—have jointly submitted a governance proposal to the Arbitrum DAO requesting the release of ETH frozen by the Arbitrum Security Council following the rsETH incident on April 18. If approved, the related funds will be channeled into the cross-protocol joint recovery initiative DeFi United, aimed at restoring rsETH reserve backing and compensating affected users. Concurrently, the Aave DAO has separately proposed contributing 25,000 ETH to this recovery initiative to stabilize market conditions as quickly as possible. The proposal is now open for community discussion and voting.
Navigating Web3 tides with focused insightsTechFlow reports that on April 25, Aave officially announced that Aave service providers, in collaboration with EtherFi, KelpDAO, LayerZero, Compound, and other protocols, submitted a governance proposal to the Arbitrum DAO requesting the release of ETH frozen by the Arbitrum Security Council following the rsETH incident on April 18. If approved, the relevant funds will be channeled into the cross-protocol joint recovery initiative DeFi United to restore rsETH reserve backing and compensate affected users. Concurrently, the Aave DAO has separately proposed contributing 25,000 ETH to this recovery initiative to stabilize market conditions as soon as possible. The proposal is currently open for community discussion and voting.
