Aave
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Aave
@aave
The most trusted financial network. Earn, borrow, save, and swap.
rsETH withdrawals are now live. Bridging and claims are active too, as part of the coordinated restart plan. Exchange rates will be updated around 4:30pm CET on May 15th, along with eigen claims. This should reflect all staking rewards accrued to rsETH holders during the pause. What’s next? - Deposits will reopen shortly after a brief stabilization window. - The remaining tranches of rsETH will be sent over the next two weeks by @aave and Kelp to fully refill the lockbox. rsETH remains fully backed across mainnet and L2s.
Aave’s bug bounty program has been updated to better align payouts with the risk profile of each part of the ecosystem and to simplify review paths. Payout caps for critical bugs are now five times larger for Aave V4 and Core Aave V3. Details below.
Quick update: The first tranche of rsETH has been transferred by @aave into the LayerZero OFT Adapter per the coordinated restart plan agreed with Kelp. Bridging is now resumed. Users can move rsETH in and out of L2s from mainnet freely now. 1. rsETH contracts will be unpaused for withdrawals within the next 24h. 2. Deposits will reopen, and exchange rates will update within 48 hours. This will accrue the staking rewards from the pause period to all the rsETH holders. Remaining tranches from Aave's recovery guardian and Kelp will be sent over the next 2 weeks to fully refill the lockbox. Transaction: etherscan.io/tx/0xd6b29a3ab…
Kelp and Aave have successfully completed a series of steps for rsETH backing, including burning the exploiter’s rsETH on Arbitrum. 117,132 rsETH will be progressively refilled from Aave Recovery Guardian and Kelp Recovery Safe into the LayerZero OFT adapter on mainnet over the next two weeks. rsETH on Mainnet and L2s remains fully backed at all times. Kelp will unpause withdrawals, tentatively within 24 hours, after the first tranche to the LayerZero OFT adapter. All rsETH operations - deposits, redemptions, bridging, and claims - will resume as usual after contracts are unpaused. Last week, we completed a security hardening pass across all LayerZero bridging configurations: verification now requires 4 independent attestors, block confirmations have been raised from 42 to 64, and all L2-to-L2 routes have been deprecated. These changes have been audited by BailSec. We are in the process of migrating to CCIP for further strengthened cross-chain bridging. Thanks to the @aave team and our DeFi United partners for being the cornerstone of this recovery.
