Mantle’s 30,000 ETH Loan for Aave’s $314M DeFi United Rescue Hits Vote

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Mantle’s 30,000 <a href="https://pricpr.com/eth-usd/">ETH</a> loan for Aave enters vote as DeFi United tops $314m

Mantle is proposing to loan up to 30,000 ETH to help rescue rsETH on Aave. This proposal is now being voted on via Snapshot and would contribute to a combined fund of $314 million from multiple decentralized autonomous organizations (DAOs).

Summary

  • Mantle Network says its rsETH relief credit facility proposal for Aave has moved into the governance voting stage on Snapshot, with MNT holders required to delegate before they can vote.
  • The proposal would let Mantle’s treasury lend up to 30,000 ETH to Aave’s DeFi United recovery effort, giving users more orderly ways to exit or restructure positions impacted by the April 18 rsETH exploit.
  • DeFi United, the multi‑DAO rescue initiative led by Aave, has now raised 1,137,714.633 ETH—about $314.57 million at current prices—from commitments across at least six DAOs and multiple major protocols.

Mantle Network announced that its plan to provide financial support for Aave’s rsETH recovery effort is now up for a vote by its community.

Mantle’s rsETH rescue loan hits Snapshot

Mantle announced that a new proposal, called MIP-34, is now available for voting on Snapshot. To participate, those who hold MNT tokens must first delegate their voting rights.

If passed, the plan would allow Mantle Treasury to loan up to 30,000 ETH to Aave DAO as part of a broader effort to address the recent rsETH bridge hack. These funds would be used to cover losses and make up for missing collateral caused by the exploit on April 18th.

How the Mantle–Aave facility is structured

The proposed Mantle loan, detailed in draft MIP-34, would last up to 36 months. It would offer a variable interest rate based on the returns from staking stETH on Lido, plus an additional 1% fee. This would allow the treasury’s ETH to earn ongoing returns instead of being used for a single grant.

Aave DAO has suggested supporting the project by dedicating 5% of its earnings and at least $11 million in AAVE tokens. They also propose giving Mantle some control over approximately 130,000 AAVE tokens to ensure both parties are motivated to succeed.

Loans would be secured using a multi-signature wallet. Borrowers can repay early without any fees, and safeguards are in place to protect Mantle from potential losses if the rsETH recovery doesn’t go as planned.

Stani Kulechov, the founder of Aave, calls the DeFi United initiative the biggest collaborative effort he’s been involved in as a decentralized autonomous organization (DAO). He highlights that similar governance processes are happening simultaneously at projects like Arbitrum, Aave, EtherFi, Lido, Compound, and Mantle.

DeFi United’s ETH war chest tops $314m

This new credit line adds to a significant amount of Ethereum (ETH) and stETH already collected through DeFi United. According to Phemex and other sources, the donation addresses for this effort now hold 1,137,714.633 ETH, currently valued at approximately $314.57 million.

Recent reports from KuCoin and WEEX indicate that the total amount of Ethereum being gathered has significantly increased, jumping from an initial 13,500 ETH to over 100,000 ETH. This growth is largely due to substantial contributions from several sources, including 30,765 ETH from Arbitrum DAO (funds that were previously held), a planned 30,000 ETH loan from Mantle, a proposed 25,000 ETH from AaveDAO, 5,000 ETH from EtherFi, 2,500 stETH from Lido, and commitments from individuals like Stani and the Golem Foundation.

We aim to cover an estimated loss of 68,900 to 118,000 ETH from the recent KelpDAO bridge attack. This will help restore proper security levels for rsETH and ensure stability across Aave and other connected lending platforms.

Legal experts at firms like Travers Smith are calling the DeFi United situation a key example of how multiple DAOs can work together to intervene on the blockchain. Specifically, the loan from Mantle to Aave is being watched to see if formal lending can effectively supplement donations during major rescues in the DeFi space.

People affected by the rsETH issue will have more ways to recover or close their positions thanks to a combination of direct ETH contributions, approved loans, and technical improvements to the system. This approach offers a better solution than simply selling off assets and accepting a loss.

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2026-05-01 21:04