Aave is leading a coordinated recovery effort following the Kelp DAO exploit, with more than $300 million in pledged support from across the decentralised finance sector.
The initiative, informally called “DeFi United,” includes contributions from firms such as Consensys, Lido and EtherFi, though much of the capital remains subject to governance approval.
“There’s a shared priority around supporting users and restoring normal market conditions,”
An Aave Labs spokesperson said.
The recovery plan includes a proposal for Aave’s DAO to allocate up to 250,000 ETH, alongside personal and ecosystem contributions, as the protocol works to stabilise lending markets impacted by the exploit.
Support is coming in multiple forms, including donations, deposits, and credit facilities, while Aave is also seeking to unlock more than 30,000 ETH frozen on Arbitrum to reimburse affected rsETH holders.
The response highlights rare coordination across DeFi, with additional participation from entities including Avalanche Foundation, Solana Foundation and investor Justin Sun.
The effort underscores growing interdependence within DeFi, as protocols and investors collaborate to manage systemic risks and maintain confidence following major exploits.
At the time of reporting, Aave price was $97.33.