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LayerZero commits over 10,000 ETH to DeFi United's recovery fund

LayerZero Labs (@LayerZero_Core) said it has committed more than 10,000 ETH to the DeFi United coalition spearheading the recovery tied to Aave/Kelp and ethereum:0xa1290d69c65a6fe4df752f95823fae25cb99e5a7. The package includes 5,000 ethereum:native donated directly to DeFi United, another 5,000 ETH deposited to bolster Aave market liquidity, plus a separate pledge aimed at deepening liquidity for the GHO stablecoin. The announcement came as @aave released a technical implementation plan detailing how rsETH backing would be restored via the Kelp lockbox and how eight impacted positions would be liquidated in a controlled manner across Ethereum and Arbitrum markets. Aave said LayerZero has been engaged since the incident occurred. DeFi United has now secured commitments from LayerZero, Mantle (30,000 ETH credit facility), Aave DAO (25,000 ETH proposed), Avalanche Foundation, Stani Kulechov (5,000 ETH), (5,000 ETH), Lido (2,500 stETH), and Golem (1,000 ETH), among others.
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AAVE-0.14%
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