More than $21 million in contributions has been made to the “DeFi United” relief effort so far, with another $215 million to be potentially allocated if certain governance proposals succeed.
Aave Labs has proposed that the decentralized autonomous organization behind Arbitrum unfreeze $73.5 million in Ether tied to the Kelp DAO attack and to direct those funds to “DeFi United,” a fund aimed at restoring rsETH and compensating its holders.
Last week, the Arbitrum Security Council moved to freeze 30,765 Ether (ETH) held in a wallet connected to the $293 million Kelp exploit.
In a proposal posted Saturday on the Arbitrum governance forum, Aave Labs said directing those funds to a planned remediation effort would “restore normal conditions for Arbitrum users” and the wider ecosystem and that the Ether on Arbitrum “represents a material contribution” toward restoring the Kelp DAO restaked ETH (rsETH) token.
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