DeFi United Raises Over $300 Million

Odaily Planet Daily News: Circle Ventures, Consensys, and Joseph Lubin have announced their support for the DeFi United initiative, aimed at mitigating losses caused by the Kelp DAO vulnerability. Circle Ventures is supporting the ecosystem by purchasing AAVE tokens. Consensys and Ethereum co-founder Joseph Lubin have confirmed a contribution of 30,000 ETH to DeFi United. Currently, DeFi United has raised over 132,000 ETH, with a total value exceeding $300 million. The funds will be used to cover bad debts resulting from attackers minting uncollateralized rsETH via the LayerZero bridge and borrowing assets on Aave. Previously, Aave proposed a donation of 25,000 ETH, while Lido DAO, Ether.fi, and Kelp have respectively proposed or committed to donating 2,500 ETH, 5,000 ETH, and 2,000 ETH.