"Compound's proposal seeks approval from the community for a contribution of 1,900 to 3,000 ETH, which is valued at approximately $6.9 million. This contribution is part of a broader coalition effort to recover funds lost in the exploit."
"The technical implementation plan aims to recover around 16,776 ETH from exploiter positions on Compound, alongside a recovery of 13,000 ETH from Aave, ensuring a coordinated response across protocols."
"Conditions for releasing funds include the full restoration of rsETH collateral, equal treatment of all affected parties, and a transparent execution plan with regular governance updates."
Fourteen protocols have committed over $161 million to Defi United's rsETH recovery effort following an exploit on April 18. Compound proposed contributing between 1,900 and 3,000 ETH, pending community governance approval. The initiative aims to restore approximately 16,776 ETH from exploiter positions on Compound and 13,000 ETH from Aave. Conditions for fund release include full restoration of rsETH collateral and equal treatment of affected parties. The DAO can adjust support based on recovery success.
Read at news.bitcoin.com
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