Kelp DAO has finalized its recovery plan after a $292 million exploit that compromised rsETH tokens on its Ethereum bridge. The final batch of 20,373.72 rsETH was sent to the LayerZero OFT adapter, restoring normal operations including minting, redemptions, and staking rewards. The exploit involved a forged LayerZero packet that allowed the attacker to release tokens and use them as collateral on Aave, causing wider DeFi lending issues. With the recovery complete, Kelp now monitors the system and provides transparency via a public dashboard.
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...
