Consensys and Ethereum co-founder Joe Lubin committed up to 30,000 ETH to DeFi United to help restore rsETH backing after the April 18 bridge incident.
Crypto market cap rose 1.3% to $2.28T, with Fear & Greed Index back to 27. ENS proposed delegating 5M tokens; TeraWulf inked a 20-year AI data center pact; BonkDAO suffered a $20M governance attack; Trump administration reviewed legal basis for a strategic Bitcoin reserve; Summer.fi paused vaults after a $6M exploit.
Aave Labs and four DeFi protocols have submitted a constitutional proposal to Arbitrum DAO to unfreeze 30,765 ETH and route it into the DeFi United recovery fund aimed at covering more than $190 million in bad debt tied to the Kelp incident.
April 24 crypto market cap holds at $2.7T, BTC edges up to $78,170 while ETH slips 1.71%. Fear and Greed Index rebounds to 39 but below yesterday's 46. KAT gains 58.29% and MOVR 59.07%. KelpDAO rescue efforts expand, 3F raises $4M.
TokenLogic submits an ARFC proposal for Aave DAO to allocate 25,000 ETH to the cross-protocol DeFi United rescue plan, covering the remaining 75,081 ETH gap after KelpDAO’s hack. Mantle offers 30,000 ETH credit but demands 130,000 AAVE governance delegation rights.
Base exits Superchain, triggering a 28% drop in OP token in 48 hours and 89.8% crash from its all-time high to $0.12. Morgan Stanley estimates a Base token could add $34B equity value to Coinbase. Open-source success becomes Optimism's undoing.
Arbitrum governance has moved forward a proposal to release 30,765 ETH to support recovery efforts tied to the Kelp DAO incident, with the plan now heading through DAO approval steps.
KelpDAO said rsETH is back to normal operations, with deposits and withdrawals reopened across Ethereum mainnet and Layer 2 networks. Staking rewards and EIGEN incentives accrued during the pause are now claimable.
