Mantle has proposed lending up to 30,000 ETH to Aave DAO to help address bad debt linked to the Kelp DAO exploit.
Summary
- Mantle proposed a 30,000 ETH loan to help Aave cover bad debt from Kelp’s exploit.
- The loan would use Mantle Treasury funds and carry yield based on Lido staking APR.
- Aave would secure the facility with revenue and at least $11M worth of AAVE tokens.
The proposal, named MIP-34, was published by the Mantle Core Contributor Team on Thursday. The loan would come from the Mantle Treasury and would only be used to resolve rsETH bad debt on Aave V3. If approved, the facility would give Aave extra liquidity as it works through losses caused by the…