DEFIUNITED.ETH Tops $302M as Circle Ventures Buys $AAVE
DEFIUNITED.ETH, the community rescue fund formed in response to the Kelp DAO bridge exploit, has vaulted past the $300 million threshold and reached $302.61 million, according to its official dashboard. The rapid surge, fueled by protocols, DAOs and prominent DeFi figures, ranks among the fastest large-scale coordinated capital mobilizations in the sector.
Dashboard snapshot (DEFIUNITED.ETH):
- Total raised: $302.61 million
- ETH contributed: 132,649.552 ETH
- Total transfers: 126,000+
- Unique wallets: 116,000+
- Contribution address: defiunited.eth
- Onchain address: 0x0fCa5194baA59a362a835031d9C4A25970effE68
Circle Ventures disclosed it is buying $AAVE in support of the DEFI United effort. Circle, the issuer of USDC, said it views resilient DeFi infrastructure as a cornerstone for the future of onchain finance and is allocating capital to Aave's governance token to back both the ecosystem and its community. Circle CEO Jeremy Allaire also amplified the announcement.
The DEFIUNITED dashboard shows contributions and pledged support from a widening set of ecosystem participants. Confirmed supporters cited include Golem Foundation, Circle Ventures, BGD Labs, LayerZero, Ethena, and Frax Finance, with additional DAO votes still pending.
The campaign traces back to the April 18, 2026 exploit of the Kelp DAO bridge, in which 116,500 rsETH (about $292 million) was stolen. Security researchers and LayerZero have preliminarily attributed the attack to the Lazarus Group, including the TraderTraitor subunit. Because rsETH is used as collateral across multiple Aave markets, the resulting under-collateralization raised systemic risk for DeFi lending venues.
DEFIUNITED.ETH was created to restore collateral backing, stabilize liquidity and reduce user losses. The fund remains open, and additional governance actions are expected. Pending votes referenced include Arbitrum, Mantle, Aave DAO and Ether.Fi. The update also notes Consensys' Joseph Lubin has committed 30,000 ETH.
FAQ highlights:
- DEFIUNITED.ETH: a community-led rescue fund launched after the April 18 Kelp DAO bridge exploit.
- Purpose: coordinate cross-protocol recovery, shore up rsETH backing and mitigate bad-debt risk in lending markets such as Aave.
- Circle Ventures' rationale for buying $AAVE: support Aave as core DeFi infrastructure and signal long-term conviction in onchain finance, alongside Circle's governance engagement around USDC on Aave.
