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3 months ago

Version History

2 additional sources confirmed this story

Version 73 months ago

What changed: Total funding increased from $300M to $320M following Aave's participation and its ETH to rsETH conversion strategy.

Version 63 months ago

What changed: Added technical details regarding the use of the OFT standard to mitigate liquidity fragmentation and enhance interoperability.

Version 53 months ago

What changed: LayerZero joined the initiative with a 10,000 ETH pledge and the Kelp DAO exploit cause was identified as LayerZero default DVN configurations.

Version 43 months ago

What changed: Updated to include Compound protocol's contribution proposal and the confirmation of 14 participating protocols in the coalition.

Version 33 months ago

What changed: Kelp DAO was identified as the specific protocol affected by the security exploit leading to rsETH losses.

Version 23 months ago

What changed: The story was updated to clarify that the 30,000 ETH injection is dedicated to recovery efforts following a security incident involving rsETH backing.

Version 13 months ago

What changed: Confirmed the specific baseline funding amount of $235M in ETH prior to the milestone achievement.

CryptoMediumUpdated×7•Originally published 27 April 2026•Updated 29 April 2026•

1 min read

DeFi United Initiative Hits $320M Milestone as Aave Joins the Coalition

Key Facts

1The DeFi United initiative had raised roughly $235 million worth of Ethereum as of Monday.

2Consensys and Joseph Lubin contributed 30,000 ETH to the DeFi United push.

The DeFi United industry initiative has reached a new funding milestone of $320 million, bolstered by strategic backing from Consensys and Joseph Lubin. In the latest expansion, Aave has joined the coalition with a specialized plan to convert ETH into rsETH to restore collateral backing. This follows LayerZero's commitment of 10,000 ETH aimed at mitigating liquidity fragmentation through the Omnichain Fungible Token (OFT) standard. With Aave's entry, the total number of participating protocols has risen to 16, further strengthening the recovery efforts initiated in April 2026. This growth is complemented by Compound’s 3,000 ETH proposal to address security vulnerabilities linked to default DVN configurations. Such substantial institutional support underscores a unified commitment to safeguarding decentralized infrastructure and enhancing interoperability across the ecosystem.

Sources:

theblock.co

news.bitcoin.com