Wu said that MantleCore has learned that MantleCore submitted a draft MIP-34 plan, proposing to authorize Mantle Treasury to provide Aave DAO with up to 30,000 ETH loans, specifically to handle and resolve the bad-debt impact on Aave V3 caused by the rsETH bridge vulnerability incident on April 18, 2026. The draft shows that the loan term can be up to 36 months, with an interest rate of LIDO+1% annualized or ultimately determined through negotiation by the execution team, and that early repayment is allowed without penalties. The disclosure states that on April 18, Kelp DAO’s rsETH bridge was attacked. The attacker exploited a LayerZero bridge configuration vulnerability to mint 116,500 rsETH without authorization, worth approximately $292 million, and lent out 89,567 rsETH as collateral on Aave V3 to borrow about $190 million in assets. A LlamaRisk report estimates that Aave’s potential bad-debt size will range from $123.7 million to $230.1 million. The draft also proposes that Aave will add as collateral Aave tokens including 5% of protocol revenue with a fair market value of no less than $11 million, and that Mantle will be entrusted with 130,000 Aave tokens to participate in governance. The proposal is currently in the discussion stage and has not yet started a formal vote.

ETH-0.54%
AAVE2.02%
MNT2.11%
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