Aave Unveils rsETH Recovery Plan, DeFi United Successfully Raises Sufficient ETH

BlockBeats News, April 28th, Aave officially announced on social media the technical implementation plan for restoring support for rsETH.

Aave stated that DeFi United has successfully raised enough ETH, which was deposited in batches into a cross-chain locking box to mint rsETH in proportion, filling the gap. This ultimately makes rsETH fully backed by the underlying ETH asset, allowing the cross-chain bridge to safely resume operation.

Regarding specific steps, through Aave and Compound's governance proposals, the rsETH oracle price will be temporarily adjusted to trigger controlled liquidation; the recovered rsETH will be redeemed for ETH through the official Kelp process to cover deficits in Aave and various chain markets; Compound will conduct similar operations, with an estimated recovery of approximately 16,776 ETH. All temporary configurations will revert to their original state immediately upon completion.