Amit

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.

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Making right by every rsETH holder is our goal, and this plan is how we get there. The technical implementation plan is now public. It covers restoring rsETH backing, clearing affected positions across @aave and @compoundfinance, and resuming normal market operations across all affected markets. The plan is designed to restore full backing without socializing losses. Execution depends on governance approvals and finalizing agreements, and we will share progress publicly as each step moves forward. Thank you for staying with us through this.

Leading Ethereum stewards @Consensys and @ethereumJoseph have joined DeFi United with up to 30,000 ETH in financial support for the rsETH recovery effort, with ongoing strategic advisory from @Sharplink. Their contributions are a substantial component of the broader DeFi United effort to restore rsETH's backing and normalize market conditions, and the recovery would not be progressing as it is without them. DeFi United.

Leading Ethereum stewards @Consensys and @ethereumJoseph have joined DeFi United with up to 30,000 ETH in financial support for the rsETH recovery effort, with ongoing strategic advisory from @Sharplink. Their contributions are a substantial component of the broader DeFi United effort to restore rsETH's backing and normalize market conditions, and the recovery would not be progressing as it is without them. DeFi United.

We have been working closely with Aave to protect rsETH holders and stabilize the broader DeFi ecosystem. We are glad to share that we have reached a clear path forward. The above two mission statements have been the only things on our minds this week. As part of that commitment, we are contributing 2,000 ETH from our treasury directly to DeFi United. 71,700+ users stood up apart from DeFi partners across the board. Thank you to @aave, @EtherFi, @ethena, @Mantle_Official, @bgdlabs, @LidoFinance, @arbitrum, @inkonchain, @StaniKulechov, @The3D_, @eboadom, and everyone else who showed up. We are genuinely humbled. @aave and us are aligned on execution of the next steps. The final recovery plan, user instructions, and timing will follow shortly. DeFi United.

Kelp, alongside @aave, @ether_fi, @LayerZero_Core, @Compound_xyz, and others, has submitted a proposal to @arbitrum to release the ETH frozen after the April 18 incident into DeFi United, our coordinated recovery initiative. Every ETH released moves rsETH holders closer to whole. The proposal is live and open for the Arbitrum community's feedback.

Kelp and @aave have been working closely with ecosystem partners since April 18 to coordinate a recovery effort for rsETH holders. We want to share some factual statements about where we are, progress made, and the next steps. @ether_fi @ethena @LidoFinance @golemproject @inkfndhq @tydrohq @Mantle_Official @fraxfinance and layerzero have each committed in best capacity. We greatly appreciate their contributions. More announcements to follow. The initial shortfall from the incident was 163,200 ETH. Kelp recovered 40,300 rsETH (~43,000 ETH), while the @arbitrum Security Council secured another 30,700 ETH. Following these recoveries, the remaining shortfall stands at approximately 89,500 ETH. Of that remaining gap, confirmed public commitments from Mantle, Stani, EtherFi, Lido, Golem total 43,500 ETH. Kelp has been in direct conversations with partners in this effort to formalize the contributions. rsETH holders come first, and that’s been our priority since day 1. We will continue sharing updates as further commitments are confirmed. DeFi United.

Following this week's rsETH incident involving @KelpDAO and @LayerZero_Core, a proposal has been put forward for Mantle to contribute a loan facility to @aave's coordinated relief effort. The loan would form part of a wider coordinated framework, structured to minimize disruption across the broader ecosystem and contribute to a measured path forward for users affected. DeFi United, as one. Full details below: forum.mantle.xyz/t/discussion-m…

Golem Foundation and Golem Factory are contributing a combined 1000 ETH from our treasuries to @aave's coordinated DeFi relief effort following the rsETH incident. We've been working closely with the Aave team this week in a supporting capacity. Our contribution will go toward restoring rsETH backing and enabling an orderly resolution for affected stakeholders. Glad to stand with @aave and the rest of the ecosystem responding here. DeFi United.

The Ink Foundation is contributing to the coordinated DeFi relief effort around the rsETH incident, alongside @aave @tydroHQ and other ecosystem participants. Our contribution supports restoration of the rsETH backing as part of an orderly resolution across the ecosystem. Further detail will follow through official channels.