Aave establishes a recovery fund to promote full redemption of rsETH, launching an execution plan in collaboration with KelpDAO and LayerZero

Odaily reported that Aave announced that its ecosystem partners and service providers will establish a recovery fund to restore full asset backing for rsETH. This plan has taken into account the pending Aave DAO governance vote (including the Arbitrum governance vote), indicative protocols, and subsequent successful execution. Aave stated that it has reached an agreement with KelpDAO and LayerZero on the technical steps required to implement the recovery plan, and related work is underway. Addressing the issues of affected users and maintaining the stability of the broader DeFi ecosystem is the current top priority. The final recovery plan, user action steps, and further updates will be announced soon.