Aave Labs has completed liquidating the remaining rsETH-backed positions tied to the April Kelp DAO exploit, moving the DeFi United recovery effort closer to fully backing the restaked Ether token. The liquidation recovered collateral was transferred to a multisignature wallet controlled by DeFi United, with no impact on user funds or activation of Aave’s Umbrella protection. However, DeFi United still needs additional support from stablecoin issuers Circle, Ethena, Frax, and Kraken-backed Ink to fully recapitalize rsETH. Meanwhile, $71 million in frozen Ether linked to the exploit remains in legal limbo after a restraining notice was filed, though over 90% of Arbitrum DAO voters support releasing these funds for recovery. The incident follows hackers draining 116,500 rsETH from Kelp DAO’s bridge, causing over $190 million in bad debt and widespread DeFi market disruption.
Aave has deployed its V4 lending platform on the Avalanche blockchain, marking its first expansion beyond Ethereum. This upgrade introduces a Hub & Spoke framework allowing decentralized liquidity sharing with independent risk management, aimed at su...
Aave DAO has proposed an innovative mobile app that integrates fiat currency deposits, self-custody, and decentralized finance (DeFi) lending in one platform. This app allows users to convert fiat to stablecoins and earn yields without needing extern...
Monad has increased its weekly incentives to $75,000 to support liquidity for Agora's AUSD stablecoin on its blockchain. AUSD is a US dollar-backed stablecoin managed by VanEck, with reserves in cash and US Treasury bills. This move follows Monad's r...
Aave has deployed its V4 lending protocol on Avalanche, marking its first expansion outside Ethereum. This launch focuses on institutional lending backed by tokenized real-world assets, using a new Hub and Spoke architecture to enable specialized cre...
Aave V4 has launched on Avalanche, marking its first expansion beyond Ethereum and introducing specialized lending markets for tokenized real-world assets like US Treasuries and corporate bonds. This new Hub-and-Spoke architecture allows institutions...
