•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Mantle Network has confirmed that its strategic credit facility proposal to support Aave’s rsETH relief effort has advanced to a governance vote. The measure, known as MIP-34, is now live on Snapshot, where MNT token holders must delegate voting power before they can participate.
If approved, the proposal would authorize Mantle Treasury to lend up to 30,000 ETH to Aave DAO as part of the “DeFi United” rescue plan. The funds would be earmarked for clearing bad debt and collateral shortfalls created by the April 18 rsETH bridge exploit.
Under the MIP-34 draft, the Mantle loan would run for up to 36 months and pay a floating yield benchmarked to the staking return on Lido’s stETH plus a 1% spread. The structure is intended to put idle treasury ETH into a yield-bearing position rather than a one-off grant.
On the Aave DAO side, the proposal includes backing the facility with 5% of protocol revenue and at least $11 million worth of AAVE tokens. Aave DAO would also grant Mantle delegated governance rights over roughly 130,000 AAVE to align incentives.
Collateral would be held in a multisig wallet. The draft also calls for no penalty for early repayment and includes default protections designed to limit Mantle’s downside if the broader rsETH recovery falls short of expectations.
Aave founder Stani Kulechov described DeFi United as the largest DAO coordination he has participated in, citing parallel governance processes at Arbitrum, Aave, EtherFi, Lido, Compound, and Mantle.
The credit facility is part of a wider pool of pledged ETH and stETH gathered under the DeFi United banner. According to trackers referenced in the article, the designated donation and relief addresses associated with the initiative have accumulated 1,137,714.633 ETH, worth approximately $314.57 million at current prices.
Earlier updates cited in the article showed the total rising from 13,500 ETH in early donations to more than 100,000 ETH. Named contributions include:
The initiative aims to address an estimated 68,900–118,000 ETH shortfall in rsETH’s backing after the KelpDAO bridge exploit and to restore healthier collateralization ratios across Aave and other integrated lending markets.
Legal analysis referenced in the article, including from Travers Smith and other firms monitoring the case, has characterized DeFi United as a landmark example of coordinated on-chain intervention across multiple DAOs. The Mantle–Aave loan is presented as a test of whether structured credit facilities can complement donations in large DeFi rescues.
For users affected by the rsETH incident, the combination of direct ETH contributions, governance-approved credit lines, and protocol-level technical fixes—if fully executed—should provide more options to exit or rehabilitate positions than a process limited to liquidation and write-offs.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
