Aave Labs leads proposal to unfreeze Arbitrum ETH for rsETH collateral

Aave Labs, Kelp DAO, LayerZero, EtherFi, and Compound have publicly proposed that Arbitrum governance unfreeze 30,765.67 ETH. The funds were frozen by the Arbitrum Security Council on April 21. According to the proposal, the assets would be managed in a 2-of-3 Gnosis Safe (SAFE) address jointly controlled by Aave Labs, Kelp DAO, and Certora. The funds are to be used exclusively for stabilizing rsETH collateral, with any unused assets ultimately returned to the Arbitrum DAO.