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Solana Foundation Chair Lily Liu said the foundation has extended a USDT-denominated loan to Aave as part of a broader DeFi recovery effort following the April KelpDAO exploit. Liu also confirmed that the $AAVE token will be integrated into the Solana network this weekend, highlighting a rare cross-chain alignment between the two ecosystems.
Liu said the foundation’s USDT lending is intended to help stabilize Aave’s liquidity after the KelpDAO incident, which affected markets across Ethereum, Arbitrum, and Mantle. “This is the first time we are lending USDT to @Aave to aid their recovery efforts,” Liu wrote on X, adding that “economies do not operate in isolation” and that Solana’s health depends on “the health of all DeFi.”
In the same post, Liu said the foundation will “be introducing $AAVE to Solana this weekend,” confirming that Aave’s governance token is set to go live on the Solana network. She noted that the foundation has invested its treasury into Solana’s DeFi projects for several years, but said that during “challenging times, it’s essential to extend our support to the wider ecosystem.”
The intervention comes after the April 18 exploit linked to KelpDAO and LayerZero infrastructure. According to the article, attackers minted unbacked rsETH and used it as collateral on Aave to drain nearly $190–$293 million in real assets. The protocol was left with an estimated $124–$195 million in potential bad debt.
Aave founder Stani Kulechov said “restoring stability and protecting users is the immediate priority” as the protocol coordinates with other service providers on a “DeFi United” recovery fund. The fund has attracted more than 69,000 ETH, roughly $161 million, in pledged support.
The USDT loan is described as a way to shore up Aave’s dollar liquidity amid redemptions, deleveraging, and higher borrowing costs—factors that test whether users keep capital in DeFi. Intellectia.ai characterized the move as a “notable cross‑ecosystem intervention,” arguing that “DeFi stability concerns can transcend ecosystem boundaries when liquidity conditions deteriorate.”
In the hours leading up to the announcement, SOL traded in the mid‑80s with a tight intraday range and modest negative drift. Gate quoted SOL at about $84.22, down 2.66% over 24 hours, while KuCoin showed about $84.21 with a 2.72% drop over the past hour at the snapshot time. Coinbase and CoinMarketCap clustered current levels around $85–$86, with roughly 1% intraday moves, suggesting a choppy, range‑bound market rather than a breakout.
Prediction-market odds for Solana reclaiming triple-digit levels this week were described as low single-digit, with bands above $90 offered at only a few percent—implying expectations of consolidation rather than a rapid upside move.
Market commentators focused on the symbolism of a Solana nonprofit supporting an Ethereum-native DeFi blue chip. CoinMarketCap described the loan and upcoming $AAVE integration as “bullish for AAVE,” saying it signals “strong institutional and cross‑chain confidence in the protocol’s fundamental value.”
For Solana, deploying USDT into Aave continues a pattern of using its treasury to backstop protocols during stress, including Tether’s recovery plan for Drift. In this case, the support extends to a major protocol on “foreign turf,” underscoring how interconnected DeFi’s largest players have become.
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