finance
DeFi Platforms Commit Over $300 Million to Recovery Fund After Kelp DAO Exploit
Aave is leading a coordinated effort to recover from the Kelp DAO exploit on April 18, 2026, with commitments totaling about $303 million from entities including Consensys, Lido and EtherFi. The initiative aims to support affected users and restore market stability. Much of the funding awaits governance approval.
Apr 27, 5:40 PM·2m read1 source
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Aave is spearheading a coordinated DeFi recovery effort following the Kelp DAO exploit that occurred on April 18, 2026, and impacted rsETH markets. The exploit created risk across lending positions on Aave. CoinDesk reported that the effort, known as DeFi United, has raised about $303 million in commitments as of April 27, 2026.
More than $300 million in pledged support for the Aave recovery effort has come from major players including Consensys, Lido and EtherFi. Aave DAO governance proposal outlines allocation of up to 250,000 ETH for the recovery. Founder Stani Kulechov has separately indicated he would donate 5,000 ETH personally.
Other contributors within Aave’s orbit are also stepping in, including Aave’s (500 ETH), BGD Labs’ (100 ETH), BGD Labs (250 ETH), and KPK’s (100 ETH). Stani Kulechov reached out to Consensys and other ecosystem participants early after the April 18, 2026, bridge hack to coordinate a response. Consensys and Joseph Lubin agreed to commit up to 30,000 ETH in financial support for the recovery.
A strategic advisory role in those discussions, the spokesperson said. “The Ethereum ecosystem has always been at its best when it moves together,” Lubin said in a statement. “DeFi United is exactly that, a broad, coordinated response to protect users and strengthen the infrastructure we’ve all helped build. Consensys is proud to contribute alongside other stewards in the ecosystem.”
Lido has put forward a proposal to allocate up to 2,500 stETH.
EtherFi is discussing a 5,000 ETH plan aimed at supporting users and limiting bad debt across DeFi. Mantle has proposed a 30,000 ETH credit facility loan. Compound also put forward a proposal to give up to 3000 ETH to the fund.
