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Mantle DAO Approves 30,000 ETH Credit Line for Aave to Address rsETH Attack Fallout

GateNews
Project Progressethereum news
MNT-1.78%
ETH-0.15%
AAVE1.71%

According to ChainCatcher, Mantle token holders have passed the MIP-34 proposal, approving a credit line of up to 30,000 ETH (approximately $68 million) to Aave DAO. The measure aims to help address potential bad debt in Aave V3 resulting from the April rsETH attack, which caused an estimated $123.7 million to $230.1 million in losses. The proposal passed a seven-day Snapshot vote, authorizing the Mantle Foundation to negotiate and execute a final loan agreement with Aave DAO. The credit facility is contingent on Aave implementing its recovery plan and finalizing specific terms.

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