DEFI JUST WROTE ITS FIRST INDUSTRY-LEVEL BAILOUT PLAYBOOK.
Aave's DeFi United coalition released the technical recovery plan to restore rsETH backing after the April 18 KelpDAO exploit drained 116,500 rsETH.
$AAVE founder Stani: "The sequences of execution start in the following days."
This is the first time a major DeFi exploit gets resolved by industry coordination instead of acceptance.
The structure:
Aave anchors the coalition with balance sheet credibility. TRON and HTX already supplied $20M USDT in solidarity capital. Arbitrum holds $73.5M in frozen $ETH up for redirection. The execution sequence will rebackfill rsETH, compensate affected users, and restore confidence.
DeFi is building its own version of the FDIC in real time.
No regulator forced this. No insurance company underwrote it. Just protocols recognizing that the ecosystem only wins when the ecosystem survives.
The next exploit will hit. Whether the response is this coordinated decides whether DeFi keeps maturing or starts unwinding.
Will this become the standard response to future DeFi exploits?
- by AltcoinBuzz
$TRX
Aave's DeFi United coalition released the technical recovery plan to restore rsETH backing after the April 18 KelpDAO exploit drained 116,500 rsETH.
$AAVE founder Stani: "The sequences of execution start in the following days."
This is the first time a major DeFi exploit gets resolved by industry coordination instead of acceptance.
The structure:
Aave anchors the coalition with balance sheet credibility. TRON and HTX already supplied $20M USDT in solidarity capital. Arbitrum holds $73.5M in frozen $ETH up for redirection. The execution sequence will rebackfill rsETH, compensate affected users, and restore confidence.
DeFi is building its own version of the FDIC in real time.
No regulator forced this. No insurance company underwrote it. Just protocols recognizing that the ecosystem only wins when the ecosystem survives.
The next exploit will hit. Whether the response is this coordinated decides whether DeFi keeps maturing or starts unwinding.
Will this become the standard response to future DeFi exploits?
- by AltcoinBuzz
$TRX