Aave leads joint proposal from five major protocols: requesting Arbitrum DAO to unfreeze 30K ETH and deposit it into "DeFi United" to restore rsETH collateral

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Aave Labs has joined forces with four major DeFi protocols to submit a Constitutional AIP to the Arbitrum DAO, requesting the unfreezing of 30,765 ETH (approximately $71.5 million) left behind by hackers. The funds are to be transferred to the DeFi United recovery fund, with the goal of covering over $190 million in bad debt from the Kelp incident within 49 days. (Context: $290 million stolen, parties pointing fingers—who should foot the bill for the KelpDAO incident?) (Background: The biggest DeFi accident of 2026: Kelp hacked for $292 million, Aave faces nearly $200 million in bad debt, rsETH peg collapses) The batch of ETH, frozen last week by the Arbitrum Security Council in a 9-3 vote, is now being targeted by five major DeFi protocols—not for theft, but for rescue. In the Arbitrum governance forum proposal, Aave Labs stated that this is a Constitutional AIP—the highest level of proposal in Arbitrum governance, requiring a temperature check, a 14-day on-chain vote, L2/L1 message confirmation, and a final waiting period, totaling approximately 49 days. Aave explained in an official X announcement that the proposal requests the transfer of 30,765 ETH into a 2-of-3 Gnosis Safe co-managed by Aave, Kelp DAO, and Certora, before being funneled into the "DeFi United" recovery plan. This batch of ETH is the exact hacker fund frozen by the Arbitrum Security Council last week and represents the last remaining recoverable on-chain asset from the $293 million attack. Co-signers of this proposal include Aave Labs, Kelp DAO, LayerZero, Ether.fi, and Compound. Such a joint endorsement by five major protocols is rare in the history of DeFi governance. According to the Dune Analytics tracking dashboard, as of the proposal submission, DeFi United has confirmed approximately $21 million in received funds. Contributors include Aave Labs CEO Stani Kulechov, Head of Engineering Emilio Frangella, Kelp DAO itself, Golem Foundation, BGD Labs, and Babylon. The Babylon Foundation expressed its support on X, stating it has joined the contributors. Additionally, LayerZero, Ethena, Ink Foundation, and Frax Finance have publicly announced their participation. A larger portion, approximately $215 million, is contingent upon governance approval and will come from institutions including Arbitrum, Mantle, Ether.fi, and Lido—with the Arbitrum portion being the 30K ETH from this unfreezing proposal. If fully realized, the total size of the DeFi United recovery fund will exceed $236 million. Aave Labs included a safety clause in the proposal: if the recovery plan fails, all funds will be returned to their original sources; even a partial recovery would "significantly reduce the gap." To understand the motivation behind this collective rescue, one must look at Aave's own wounds. Within a week of the Kelp DAO incident, Aave's TVL plummeted by nearly $12 billion, triggered by a massive wave of liquidity withdrawals from users reacting to the shock. More critically, there is over $190 million in bad debt. After the attacker succeeded, they used the stolen rsETH as collateral on Aave to borrow large amounts of wETH. When the rsETH peg failed and its price collapsed, these positions became unliquidatable bad debt for Aave. Aave Labs leading the proposal is driven by brand responsibility on the surface, but in reality, it is a direct act of self-preservation: only if DeFi United can fill this gap can Aave rebuild trust and attract TVL back. The Arbitrum Security Council's 9-3 vote to freeze the ETH has sparked a philosophical debate in the DeFi community that continues to this day. Supporters of the freeze, represented by Ethereum security researcher Taylor Monahan, describe it as a collective DeFi effort to "snatch $70 million" from North Korea. She noted that the hackers are suspected to be the North Korean Lazarus Group / TraderTraitor, and once money laundering is complete, the funds would be nearly impossible to recover. Renowned security researcher samczsun also called it "rare good news for Kelp victims." The logic of the opposition is quite different: if 9 out of 12 members of a Security Council can freeze user assets, this is simply a centralized mechanism wearing a decentralized mask. Critics argue that once this precedent is set, any future freeze with "sufficient justification" could be invoked—making the "censorship resistance" of Layer 2 just empty talk. There is no simple answer to this debate. In the context of ETFs or banks,

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