Proposal to unfreeze $71M in Kelp DAO funds nears approval

A joint proposal to unfreeze approximately $71 million in ETH is expected to pass today, CoinDesk reported. The funds were frozen by the Arbitrum (ARB) Security Council following an exploit of Kelp DAO. The proposal's passage is anticipated to accelerate the recovery of rsETH collateral. Submitted jointly by Aave (AAVE) Labs, Kelp DAO, and LayerZero (ZRO), the measure would allow the DeFi United recovery project to restore a portion of the rsETH collateral. Upon approval, the proposal will advance to the final on-chain governance stage.